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Financial Institutions › Payment Systems › Electronic Payment Transactions

Troutman Pepper Locke

Texas Senate Bill 1736 Proposes Allowing Convenience Fees for Electronic Motor Vehicle Payments

Troutman Pepper Locke on

On February 27, Texas State Senator José Menéndez (D) introduced Senate Bill 1736, a piece of legislation aimed at regulating convenience fees associated with electronic payments for motor vehicles. SB 1736 would allow such...more

A&O Shearman

How to protect your customers from payment fraud: recommendations from the Polish regulator

A&O Shearman on

Payment service providers (PSPs) face a constant challenge to ensure the security of transactions carried out by their customers. The PSD2 Directive introduced standard rules and criteria for this purpose, but there is a...more

Hudson Cook, LLP

GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule

Hudson Cook, LLP on

Businesses using ACH will soon have to comply with a new rule, the WEB Debit Account Validation Rule, related to account validation. The effort – meant to help combat fraud and protect users – has also been a source of...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2019

Nutter McClennen & Fish LLP on

Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more

Latham & Watkins LLP

Let’s Settle This Immediately: The Fed Joins the Global Faster-Payments Trend

Latham & Watkins LLP on

The Federal Reserve is finally stepping into the real-time payments arena. On August 5, 2019, the Board of Governors of the US Federal Reserve System (the Fed) announced that it plans to roll out a real-time payment and...more

A&O Shearman

U.S. Board of Governors of the Federal Reserve System Commission Study Regarding Payments Fraud and Security Vulnerabilities

A&O Shearman on

The U.S. Board of Governors of the Federal Reserve System announced that it is undertaking a study that will begin this month with respect to fraud in the U.S. payments system. The study will identify causes and contributing...more

Davis Wright Tremaine LLP

NACHA Adopts Same-Day ACH Rule

Davis Wright Tremaine LLP on

On May 19, NACHA adopted a rule enabling the same-day processing and settlement of most types of ACH payments (same-day rule). In 2012, NACHA had proposed an Expedited Processing and Settlement (EPS) rule providing for a...more

K&L Gates LLP

Taiwan Act Governing Electronic Payment Institutions

K&L Gates LLP on

On February 4, 2015, Taiwan promulgated the Act Governing Electronic Payment Institutions, and pursuant to the Act, the Financial Supervisory Commission on April 27, 2015 announced a series of enforcement rules of the Act,...more

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