Search for: "Kristian Soltes"
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21 Jan 2021, 9:06 am
Legal and Regulatory Developments SPOTLIGHT: CFPB Under Chopra Will Be Aggressive Consumer Watchdog, Experts SayCompliance Week – January 19, 2021 Rohit Chopra, currently a Democratic commissioner on the Federal Trade Commission, has been nominated by President-elect Joe Biden to lead the Consumer Financial Protection Bureau (CFPB). [read post]
18 Mar 2022, 8:56 am
Legal and Regulatory Developments SPOTLIGHT: CFPB’s Chopra Blasts Potential Card HikesPayments Dive – March 14, 2022 The director of the Consumer Financial Protection Bureau said fee hikes by the card companies would add “insult to injury” at a time of inflation. [read post]
18 Feb 2022, 9:23 am
Legal and Regulatory Developments SPOTLIGHT: Visa Had a Monopoly on Payments at the Olympics for 36 Years. [read post]
29 Oct 2021, 9:01 am
Legal and Regulatory Developments SPOTLIGHT: Report: Apple ‘Very Likely’ to Face Antitrust Lawsuit From US Department of Justice9to5Mac – October 25, 2021 A new report from The Information today indicates that Apple is “very likely” to face an antitrust lawsuit from the Department of Justice in the United States. [read post]
12 Nov 2021, 10:36 am
Legal and Regulatory Developments SPOTLIGHT: If You Use Venmo, PayPal or Other Payment Apps This Tax Rule Change May Affect YouCNN – November 9, 2021 If you’re among the millions of people who use payment apps like PayPal, Venmo, Square, and other third-party electronic payment networks, you could be affected by a tax reporting change that goes into effect in January. [read post]
6 May 2022, 9:14 am
Legal and Regulatory Developments SPOTLIGHT: Senators Grill Visa, Mastercard Execs Over Swipe FeesThe Hill – May 4, 2022 Senators on Wednesday scrutinized Visa and Mastercard for raising swipe fees on merchants, costs that they say will be passed down to consumers amid surging inflation. [read post]
27 May 2021, 9:15 am
Legal and Regulatory Developments SPOTLIGHT: European Commission Plans to Hit Facebook With Official Antitrust ProbePYMNTS – May 26, 2021 The European Commission (EC) is launching an official investigation into allegations that Facebook engaged in anti-competitive behaviors, the Financial Times reported on Wednesday (May 26). [read post]
21 May 2020, 8:47 am
Legal and Regulatory Developments SPOTLIGHT: Retailers and Wholesalers Call for Urgent Amendment of Card Fees RegulationFinextra – May 18, 2020 EuroCommerce Director-General Christian Verschueren today pressed the European Commission to act on the growing problems facing retailers and wholesalers resulting from the limited scope of the Interchange Fee Regulation (IFR). [read post]
24 Dec 2020, 7:21 am
DEEPER DIVE: The DOJ Is Right in Suing to Stop Visa’s Deal for Plaid. [read post]
29 Apr 2021, 8:26 am
Legal and Regulatory Developments SPOTLIGHT: Visa, Mastercard Face Biggest Challenges in a DecadeBanking Dive – April 22, 2021 Regulatory, legislative and court confrontations over the card networks’ fees are ratcheting up pressure again for reform of the behemoths’ practices. [read post]
15 Oct 2021, 9:17 am
Legal and Regulatory Developments SPOTLIGHT: European Banks Debate Rival to US Payment GiantsPolitico EU – September 30, 2021 Europe’s biggest banks will decide if it’s in their interests to take on the U.S. payment duopoly of Mastercard and Visa as soon as next month, as political pressure grows to break American dominance in this space. [read post]
6 May 2021, 8:24 am
Legal and Regulatory Developments SPOTLIGHT: Retail Organizations Sue Fed Over Debit Law EnforcementRetail Dive – April 30, 2021 Two retail associations sued the Federal Reserve Board of Governors April 29 over what they claim is a failure by the federal agency to properly enforce a federal law that caps the fees that can be charged on debit transactions. [read post]
12 Jun 2020, 7:44 am
Legal and Regulatory Developments SPOTLIGHT: ‘Fraud’ Lawsuit Slams Plaid on Eve of Historic $5.3-Billion PaydayRIABiz – June 9, 2020 As Plaid nears the date when it banks a $5.3 billion dollar check from Visa, it may face a final hurdle from a class action alleging its value proposition depends on a “massive invasion” of the privacy of over 200 million bank and brokerage accounts. [read post]
25 Jun 2021, 8:52 am
Legal and Regulatory Developments SPOTLIGHT: Federal Reserve Board Extends Comment Period on Proposed Changes to Regulation IIFederal Reserve Board – June 22, 2021 (click here for the Board’s Federal Register notice) The Federal Reserve Board announced on Tuesday that it will extend until August 11, 2021, the comment period for its proposed changes to Regulation II (Debit Card Interchange Fees and Routing) that would clarify that debit card issuers should enable, and allow… [read post]
18 Jun 2020, 7:26 am
Legal and Regulatory Developments SPOTLIGHT: With a Loss Before Britain’s High Court, Visa and Mastercard Face an Interchange ReckoningDigital Transactions News – June 17, 2020 Merchants in the United Kingdom won an important battle against interchange fees on Wednesday but it remains uncertain just how much that will mean to them in terms of remuneration from Visa Inc. and Mastercard Inc. [read post]
12 Nov 2021, 10:36 am
Legal and Regulatory Developments SPOTLIGHT: If You Use Venmo, PayPal or Other Payment Apps This Tax Rule Change May Affect YouCNN – November 9, 2021 If you’re among the millions of people who use payment apps like PayPal, Venmo, Square, and other third-party electronic payment networks, you could be affected by a tax reporting change that goes into effect in January. [read post]
24 Jun 2022, 7:23 am
Legal and Regulatory Developments SPOTLIGHT: UK Watchdog to Review Post-Brexit Visa and Mastercard FeesReuters – June 21, 2022 Britain’s payment systems regulator (PSR) will conduct two market reviews of card fees charged by Visa and Mastercard, the U.S. companies that account for 99% of debit and credit card payments in the UK. [read post]
28 Jan 2021, 9:34 am
Legal and Regulatory Developments SPOTLIGHT: UK Merchants to Face Post-Brexit Fee Increase From MastercardBusiness Insider – January 26, 2021 In response to Brexit, Mastercard is reportedly planning to increase fees for UK online card purchases. [read post]
30 Jul 2021, 7:58 am
Legal and Regulatory Developments SPOTLIGHT: Why Biden’s Executive Order Is a Green Light for Us Open BankingFinextra – July 28, 2021 On July 9 2021, President Biden didn’t just throw a bone to US open banking, he underwrote the mortgage, laid the welcome mat, and set the table to officially welcome open banking to the neighbourhood. [read post]
25 Mar 2021, 8:06 am
Legal and Regulatory Developments SPOTLIGHT: A DOJ Investigation of Visa Is the Latest Chapter in a Long History of Probes Into Network PoliciesDigital Transactions News – March 22, 2021 The news that the U.S. [read post]
