News & Analysis as of

Payment Processors Anti-Money Laundering

Carey Olsen

British Virgin Islands Fintech Guide (Chambers)

Carey Olsen on

This chapter provides the latest legal information on the British Virgin Islands' fintech market and regulation, including regulatory jurisdiction, sandboxes, AML rules and FATF standards; robo-advisers, online lenders and...more

Troutman Pepper Locke

Suit Against Cannabis Giant Trulieve Underscores Cashless ATM Risks and the Need for Banking Reforms

Troutman Pepper Locke on

In a February 19 complaint filed in Arizona state court, Texas-based payment processer Switch Commerce LLC argued that multistate cannabis operator Trulieve Cannabis Corp. and its affiliates should be responsible for a...more

Venable LLP

Maximizing the Benefits (and Minimizing the Risks) of Payment Orchestration

Venable LLP on

The payments industry continues to evolve in response to the demand for flexible, fast, and secure payment options. Innovations have included payment facilitation, push-to-card services, and real time payments, among others....more

Harris Beach Murtha PLLC

[Webinar] Third Party Risk is Your Risk - January 24th, 11:00 am - 12:00 pm EST

• Highlights of recent joint agency guidance on Third-Party Risk Management (3PRM) • How 3PRM considerations have increased in importance in BSA/AML compliance programs and enforcement actions • Lessons learned from...more

Hogan Lovells

Italian register of central contact points, payment services agents and e-money distributors

Hogan Lovells on

The Italian Ministry of Economy and Finance issued the long-awaited decree regarding the Italian register of payment services agents, e-money distributors and central contact points for AML supervision....more

Troutman Pepper Locke

A Conversation with Third Party Payment Processors Association President Marsha Jones - The Crypto Exchange Podcast

Troutman Pepper Locke on

In this episode of The Crypto Exchange, Troutman Pepper attorneys Keith Barnett and Carlin McCrory welcome Marsha Jones from the Third Party Payment Processors Association to discuss a portion the ENABLERS Act, which proposes...more

Fox Rothschild LLP

Two Businessmen Convicted Of Bank Fraud Conspiracy For Assisting Cannabis Company With Transactions

Fox Rothschild LLP on

Two businessmen have been convicted in U.S. District Court for the Southern District of New York of helping a California-based cannabis company avoid bank flags for illegal cannabis-related transactions. A New York jury found...more

Goodwin

Federal Reserve Proposes Rules To Modernize Regulations That Implement CRA

Goodwin on

In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more

Ballard Spahr LLP

Westpac Banking Corporation Faces Money Laundering Scandal in the Land Down Under

Ballard Spahr LLP on

Bank Accused of Being Asleep at the AML-CTF Switch - On November 20, 2019, AUSTRAC, Australia’s anti money-laundering (“AML”) and counter-terrorism financing (“CTF”) regulator, initiated an action in the Federal Court of...more

White & Case LLP

Consumer financial services: The road ahead: Payment processing

White & Case LLP on

The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

In January 2017, Alibaba co-founder Jack Ma was proudly promising to create 1 million jobs in America—a heady promise but one not unthinkable given Alibaba’s massive scale. Fast forward 20 months and a growing Sino-American...more

Ballard Spahr LLP

Banking and Marijuana, Redux: Utah Department of Financial Institutions Commissioner Declares Opposite Position to New York’s...

Ballard Spahr LLP on

As we just blogged, the New York State Department of Financial Services (“NYDFS”) has published guidance to “clarify the regulatory landscape and encourage” New York, state-chartered banks and credit unions to “offer banking...more

Troutman Pepper

Sleeping Giant? OCC Wakes Up to New Focus on Merchant Processing

Troutman Pepper on

Following hard on the heels of recent risk management actions taken by other federal agencies, the Office of the Comptroller of the Currency (OCC) has issued a thoroughly updated booklet on Merchant Processing, which forms a...more

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