PYMNTS

DECEMBER 30, 2020

22, according to legal documents filed in the U.S. Legal counsel for those named in the suit — Ripple Labs, CEO Bradley Garlinghouse and Executive Chairman and Co-founder Christian Larsen — were called to appear in an online pretrial conference with Judge Analisa Torres. . There are clear rules of the road for using XRP in the U.K.,

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PYMNTS

JULY 5, 2020

In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. It’s intended to “enhance the availability of financial services and the financial transparency of hemp-related businesses in compliance with federal law,” the notice said.

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Treasury Office of the Comptroller of the Currency Fincen Financial Crimes 140

Stax

AUGUST 1, 2024

However, card brand rules and state and federal laws have been established to prevent merchants from abusing this privilege. In this article, we’ll explore Visa’s rules around credit card surcharging and what merchants need to know about them. Per the latest reports, Visa wants to enforce its surcharging rules more seriously.

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Rules Credit Cards Caps Processors 88

Fintech Finance

JULY 19, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. When the paycheck advance product is no-fee and truly free to the employee, many requirements would not apply.

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CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 105

PYMNTS

JANUARY 23, 2019

3 Super Bowl approaches — heaven for football fans and gamblers, including bettors who make wagers via online channels — federal authorities have brought a new level of uncertainty into the prospect of those legal bets. Now, at least eight states have some form of legal online sports betting, with more states moving toward that goal.

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PYMNTS

NOVEMBER 17, 2016

merchants are calling on Visa to provide steps to remedy what they say is violation of rules regarding EMV. The group said the Federal Reserve declared no payment card network can directly or indirectly force retailers to deploy technology or enforce rules that inhibit merchants’ routing choice.

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EMV Rules Federal Reserve Federal Trade Commission 73

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). See our previous Sidley Update on that review.

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Rules Payments Institute Authorization Reconciliation 88

Nanonets

MAY 10, 2023

From court documents being moved to digital formats to the advent of AI in legal research, a lot has changed. What does it mean for legal professionals? And how can you use AI to make legal work more efficient? Court dates, client meetings, legal research, paperwork – the list goes on for legal professionals.

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PYMNTS

DECEMBER 19, 2019

The effect is perhaps most pronounced in the legal profession, where payments have been done a certain way for time immemorial, and where there are also serious matters of compliance. ‘I Law & Order IPU (Instant Payments Unquestionably). Law firms face more daunting hurdles than some when adopting instant disbursements.

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Neopay

APRIL 22, 2024

The UK’s company law landscape underwent significant changes with the enactment of the Economic Crime and Corporate Transparency Act, effective from 4th March 2024. The post Changes to UK company law appeared first on Neopay. Here is a summary of what you need to know about the new measures.

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Laws Crime Due Diligence Law Enforcement 52

VISTA InfoSec

SEPTEMBER 15, 2023

This Act, which supersedes Section 43A of the IT Act, 2000 and the SPDI Rules, 2011, brings about considerable changes to the norms of data protection. The DPDP Act is lean and principle-based, with details around implementation to be set out in future rules. For minors , consent must be procured from the parent or legal guardian.

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PYMNTS

JANUARY 10, 2019

A court in Germany handed down a harsh ruling about Amazon’s Dash buttons on Thursday (Jan. According to German law, a transaction must provide info on price and characteristics or delivery details. Daniel Widmann, a technology law expert at Pinsent Masons, said in 2016 that this could cause trouble for the company.

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Laws Consumer Consumer Protection Rules 57

PYMNTS

FEBRUARY 14, 2020

There’s a saying in jurisprudence: Hard cases make bad law. Early this week, a judge denied a request from Uber and Postmates to halt the enforcement of a new California labor law — known as AB5 , which was voted into law last year — that would place new restrictions on gig economy workers. New Economy and Old Laws.

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Rules Laws Economy Governance 64

Segpay

MARCH 24, 2025

By comparing the Australian legal e-gaming and e-gambling landscape with that of the USA, we want to make it easier to understand for our readers who are familiar with US regulations. This article will help you gain a better understanding of gaming and gambling laws in Down Under. billion by 2034.

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Compliance Suspicious Activity Report (SAR) Fincen AML 71

PYMNTS

JUNE 17, 2020

In the United Kingdom, and for the payment network giants in the decades-long legal battle over interchange fees — next stop, trial court? Sainsbury’s will now be seeking to recover the full amount of the unlawful charges it has incurred,” Murphy said, in the wake of the ruling. ruling on Wednesday was not a final one.

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Segpay

OCTOBER 23, 2024

Heightened Scrutiny from Financial Institutions and Regulators: As adult content platforms are more closely monitored, businesses must take proactive measures to ensure that they’re following all legal requirements. Evolving Regulatory Landscape: Laws and regulations are constantly changing, and what was compliant yesterday may not be today.

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PYMNTS

FEBRUARY 11, 2020

The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a new ruling on the reporting of currency transactions for sole proprietorships and legal entities operating under a “Doing Business As” (DBA) name, according to a Monday (Feb. Those rules were based on FinCEN Form 104, which is now obsolete.

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EBizCharge

JUNE 28, 2024

The question “Is it legal to charge a credit card fee?” This article will explore the legality of charging such fees as well as the pros and cons associated with them. Surcharging is legal in many states and is regulated at the state and federal levels. is a legitimate inquiry for merchants seeking ways to offset these expenses.

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Fintech News

JUNE 12, 2024

To make multilateral payment platforms work well, there need to be clear rules and ways for different systems to work together. As multilateral platforms scale, the governance framework must evolve to keep up with changes in board participation, voting rules, regional representation, and economic models.

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Cross-Border Payments Cross-Border Interoperability Payments 122

The Fintech Times

FEBRUARY 28, 2025

Charles Nerko , team leader for data security litigation in Barclay Damon LLP , the law firm, explains how this is not the case, and why firms need to be proactive in managing the risk in a compliant manner. “AI brings significant legal challenges to the fintech sector. “Keeping pace with evolving laws is another challenge.

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PYMNTS

JUNE 7, 2019

19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. The CFPB is also correcting several errors in the rule. The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug. Compliance is being delayed 15 months, to Nov.

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PYMNTS

JANUARY 14, 2020

Why are checks holding on so powerfully in the world of legal payouts? The answer is complicated, Edwards noted, because legal payouts are more complex and varied than most people realize. When most people think of legal disbursements, Edwards noted, they tend to think about what he calls “large life event” payments.

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Legal Instant Payments Checks Settlement 52

VISTA InfoSec

SEPTEMBER 28, 2023

Now, this individual could be anyone, but there are a couple of special cases to consider: If the individual is a child, then the ‘Data Principal’ also includes the child’s parents or their lawful guardian. If the individual has a disability, then the ‘Data Principal’ includes their lawful guardian who is acting on their behalf.

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Laws Privacy Authentication Authorization 130

Payments Source

APRIL 11, 2018

A Cambridge professor has found how an 1816 legal ruling can be used to trace stolen bitcoins, thus potentially making it easier for governments to legislate bitcoin exchanges.

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Fintech Finance

JULY 16, 2024

These reports take forward priority actions under the G20 Roadmap to address legal, supervisory and regulatory frictions in cross-border payments to help achieve the quantitative targets in 2027. In response to these changes, legal, regulatory and supervisory frameworks that govern PSPs have had to rapidly adapt and evolve.

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PYMNTS

DECEMBER 11, 2020

Following a landmark ruling by the Supreme Court, former financial ombudsman Walter Merricks can now bring a suit against Mastercard on behalf of millions of U.K. Merricks alleges Mastercard is in violation of the European Union’s competition law because of the “interchange” fees charged to retailers for card use.

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Visa Laws Rules Debit Card 86

PYMNTS

DECEMBER 3, 2019

The statement provides FIs with federal data that defines the legal status of hemp, as well as the U.S. Department of Agriculture’s (USDA) interim final rule on hemp production. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance.

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Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

PYMNTS

DECEMBER 23, 2019

One such area in which instant payments remain out of reach is the legal system, as claimants still largely receive their settlements or disbursements via check. These paper-based payment methods can inconvenience customers and cause frictions, but law firms and their supporting partners are often hamstrung when it comes to replacing them.

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Legal Instant Payments Checks Settlement 52

PYMNTS

SEPTEMBER 10, 2019

An open letter to Congress asking for a consumer data privacy law was signed by 51 CEOs across tech and other industries, CNBC reported on Tuesday (Sept. Executives from the Business Roundtable said in the letter that putting a federal law in place is important and necessary to protect American consumers while also ensuring that the U.S.

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EBizCharge

MARCH 14, 2025

Depending on the companys rules, this period can range from a few days to weeks. Customers should be able to grasp the terms without needing a legal background. Use a template: Templates provide a structured framework that ensures clarity, consistency, and legal compliance. Can you get around a no-refund policy?

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PYMNTS

NOVEMBER 26, 2018

Passed in 2008 in Illinois, the Biometric Information Privacy Act is the toughest standard for biometric privacy in the nation, imposing strict rules on how companies can collect data like fingerprints from a person, requiring consent before obtaining the information. This isn’t the first lawsuit surrounding the use of biometrics.

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Laws Privacy Rules Procedures 55

PYMNTS

OCTOBER 29, 2020

The European Union’s (EU) second-highest court ruled that Facebook can’t be forced to turn over sensitive information without a review. The ruling follows Facebook’s complaint in July that EU regulators were making excessive demands for sensitive data, beyond what was necessary. “The billion.

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Rules Federal Trade Commission FTC Legal 56

PYMNTS

FEBRUARY 11, 2020

A judge has rejected the request from Uber and Postmates to put a stop to a new California law that would place new restrictions on gig economy workers, according to Reuters. The rule, passed last year, places more specific restrictions on who can be classified as a contractor. She simply refused to outright dismiss the law as a whole.

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Laws Economy Procedures Legal 52

PYMNTS

MARCH 8, 2020

A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The result of the ruling could lead to more activity in the French bitcoin market. This ruling could encourage more activity in the French Bitcoin market.

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Bitcoin Law Enforcement Cryptocurrency Rules 112

PYMNTS

OCTOBER 11, 2020

Epic sued Apple in August, accusing the technology giant of violating laws that restrict anti-competitive behavior. Friday's ruling by U.S. WSJ quoted David Hoppe, a technology and media lawyer at Gamma Law in San Francisco who is not involved in the case, as having said the ruling hurts Epic. “The

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Rules Laws Processors Breach 104

PYMNTS

NOVEMBER 11, 2020

The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. percent drop in its stock on the Hong Kong Stock Exchange.

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Regs NOV Law Enforcement Economy 95

The Payments Association

OCTOBER 22, 2024

Nonetheless, the interaction of segregation requirements and insolvency law is often a key focus on insolvencies and has been subject to significant consideration by the courts, including by the Supreme Court concerning the insolvency of Lehman Brothers International (Europe). Who is impacted?

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