GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more
Using the Congressional Review Act, the Senate has voted to nullify a CFPB final rule that would subject large cash apps to the bureau’s supervision....more
In the waning days of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) on Jan. 10, 2025, issued a proposed interpretive rule that would provide a framework for determining when the Electronic Fund...more
On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") proposed a new rule, to be codified at 12 C.F.R. § 1090.109, that would bring general-use digital payment processors who process more than five million...more
On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more
One of the biggest developments in payroll in recent years is the rise of “on-demand pay”, also often called “earned wage access”. Earned wage access programs, which are built on the premise that workers should have access...more
Key developments of interest over the last month include: Queen's Speech 2022 announces forthcoming Financial Services and Markets Bill; European Commission consultations and calls for evidence on PSD2 review and open...more
Continuing the FinTech University series, join Nelson Mullins attorneys Richard Levin and Kevin Tran for this one-hour session on payment processing that will include 10 minutes for Q&A at the end. Technological advances...more
House Financial Services Committee Sets Fintech Priorities for a New Administration - House Financial Services Committee Chairwoman Maxine Waters sent a letter to the incoming administration with nearly 50 pages of...more
Two separate legal regimes currently govern Taiwan’s payment institution and electronic money industries: On electronic money, the Act Governing Issuance of Electronic Stored Value Cards (電子票證發行管理條例), promulgated in January...more
On 18 July 2019 the European Banking Authority (EBA) published a report on the EU regulatory perimeter, national regulatory status and EU national regulators' (NCAs') authorisation approaches for FinTech firms conducting...more
Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the...more
This survey reports on developments in the law relating to electronic payments. Part II addresses legal challenges to federal and state regulation of e-payments products. Part III discusses the amendment (again) of federal...more
DEVELOPMENTS IN THE PHILIPPINE FINTECH SECTOR - The combination of low levels of financial inclusion, a steadily growing GDP and high smart phone usage has resulted in the Philippines becoming a key market in Asia for...more
Earlier this month, the Electronic Transactions Association (ETA) hosted its annual TRANSACT conference to connect and educate the various branches of the payments industry. Industry leaders spoke on technology, security,...more