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Fintech
Insights
Mar 15, 2023
Mar 15, 2023
U.S. Supreme Court Re-routes Escheatment of Payment Products
Insights
Feb 09, 2023
Feb 09, 2023
Does Your Current Use of AI in Financial Services Align with the U.S. “AI Bill of Rights”?
As OpenAI’s release of ChatGPT in late 2022 and expected release of GPT-4 in 2023 continues to garner widespread attention, there is renewed focus on both opportunities and risks presented by the use…
Insights
Nov 15, 2022
Nov 15, 2022
New federal anti-crime rule requires millions of businesses to report true ownership
Insights
Oct 19, 2022
Oct 19, 2022
FRB Action Brings Lower Costs to Merchants for Online Debit Card Transactions
The purpose of the Durbin Amendment was to lower merchants’ costs of accepting debit cards for customer payments. Up to now, because of technology limitations, online merchants were not provided lower…
Insights
Aug 24, 2022
Aug 24, 2022
Deceptive and unfair -- multiple NSF fees on representments of the same transaction
In guidance issued recently, the Federal Deposit Insurance Corporation (“FDIC”) advised that charging multiple non-sufficient funds (“NSF”) fees constitute “violations of law” when customer…
Insights
Aug 19, 2022
Aug 19, 2022
CFPB guidance on pay-to-pay fees impacts consumer loan agreements
Consumer debt collectors may not be permitted to charge consumers “convenience fees” for card payments, which the Consumer Financial Protection Board (the “CFPB”) calls “pay-to-pay” fees, unless the…
BankBCLP
Jun 21, 2022
Jun 21, 2022
This edition of Banking Bites provides updates on:
New High Court case considers nature and scope of the Quincecare duty
More UK firms to provide confirmation of payee services
UK to bring critical…
BankBCLP
May 30, 2022
May 30, 2022
This edition of Banking Bites provides updates on:
Privy Council rules against extension of the Quincecare duty
No privilege protection for the identity of the person communicating with…
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