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Discover, FDIC reach consent agreement

Payments Dive

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

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Industry Statements on on Merchant, Payment Network Lawsuit Agreement

Electronic Payments Coalition

EPC STATEMENT: WASHINGTON – Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued the following statement regarding the impact the interchange lawsuit agreement between U.S. Congress should put an end to the ill-advised Durbin-Marshall mandates and let the agreement merchants reached stand on its own.”

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TCH Gives Banks An Open Banking Template

PYMNTS

Known officially as the Model Data Access Agreement, Fortney said this sets forth a common foundation of generally accepted contractual terms as a starting point for these bilateral data agreements. The use of the agreement is voluntary, and parties can negotiate elements independently as they deem appropriate.

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Small Business Borrower Sues Kabbage

PYMNTS

A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. Usury laws regulate how much interest can be charged on a loan.

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Mississippi AG Preps Antitrust Suit Against Google

PYMNTS

We attorneys general have authority under consumer protection acts to do both,” said Mississippi Attorney General Jim Hood, according to CNBC , on Monday (March 18). “So So it’ll be a multifaceted suit or, hopefully, we can get a settlement if we can get some agreement with them.”.

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Uber CEO: Gig Work Needs An Upgrade, But A Forced Switch To Employees Isn’t It

PYMNTS

California Assembly Bill 5 ( AB5 ) — and its now famed (and feared) three-part test as to whether a worker could be classified as an independent contractor or must by law be classified as an employee — has been a magnet for controversy almost since day one. The fact that gig workers need benefits is increasingly a point of agreement.

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Uber CEO’s 900,000 Reasons Why AB5 Shouldn’t Fly

PYMNTS

California Assembly Bill 5 ( AB5 ) — and its now famed (and feared) three-part test as to whether a worker could be classified as an independent contractor or must by law be classified as an employee — has been a magnet for controversy almost since day one. The fact that gig workers need benefits is increasingly a point of agreement.

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