Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Davis Wright Tremaine

Posts by Davis Wright Tremaine

Credit Card Data Breaches: Protecting Against Surprises

Posted in Privacy and Data Security
For retailers, the costs involved with a credit card data breach go well beyond the immediate needs of retaining a privileged forensic investigator, hiring outside counsel and public relations and crisis management advisors, and notifying customers of the breach and offering credit protection services to them. DWT PrivSec and Payments team member Cou… Read the rest

Webinar: Legal Issues in the Mobile Landscape

Posted in Deals and Technology, Privacy and Data Security
The days of swiping a credit card on a card reader are over. Companies are increasingly exploring new and creative ways to allow their customers to pay for items using smartphones, computers, and mobile technologies. In a webinar scheduled for 12 PM EDT on Thursday, May 12, DWT Privacy and Security and Payments team member Courtney Stout, along with David Ze… Read the rest

Women in Housing and Finance’s Annual Symposium on FinTech Issues

Posted in Deals and Technology
DWT Consumer Financial Services team members Adam Maarec and Allison May attended last week’s Annual Symposium of Women in Housing and Finance, which focused on the impact of financial technology. A few of the most notable comments are summarized below. Blythe Masters, CEO of Digital Asset Holdings, explained how blockchain technology has the potent… Read the rest

U.S. Consumer Financial Services Regulation: What to Expect in 2016

Posted in Regulatory and Compliance
At the 2016 Digital Payments Intensive in London, DWT Emerging Payments and Prepaid team leader Andy Lorentz offered attendees insight into some major recent and upcoming developments with respect to regulation of consumer financial services activities in the United States this year.  Such developments include everything from pending rules on pre… Read the rest

“Abusive” Practices Under the UDAAP Prohibition

Posted in Regulatory Compliance/Federal Agencies Resources
In an effort to help companies better understand the implications of the Consumer Financial Protection Bureau’s enforcement actions involving allegations of abusive conduct taken under the authority of the Consumer Financial Protection Act of 2010, DWT Payments team member Adam Maarec, along with Laurie Lucas (associate professo… Read the rest

Webinar: How to Improve Data Security in Payment Systems

Posted in Privacy and Data Security
How to Improve Data Security in Payment Systems: Changing Risks and Changing Technology for In-House Counsel  Thursday, March 31st, 2016 12:00 PM EDT Davis Wright Tremaine presents this audio web cast through Celesq® Attorneys Ed Center in partnership with West LegalEdcenter, a Thomson Reuters business. With new technology behind how credit card tr… Read the rest

FinTech Regulations: What You Need to Know

Posted in Deals and Technology, Regulatory and Compliance
The intersection of technology and financial services innovation raises a host of regulatory questions for new participants, and that’s before thinking about how those regulations are evolving to keep pace with new developments. DWT’s Emerging Payments and Prepaid practice leader Andy Lorentz joined Tommy Nicholas (Co-Founder, Alloy.co), Wre… Read the rest

CARD Act Report Webinar: A Deep Dive Into Key Issues

Posted in Deals and Technology, Regulatory and Compliance
DWT and the Financial Services Roundtable jointly presented a webinar on the CFPB’s latest CARD Act Report and its potential impact on the credit card market in January 2015. In case you missed it (or want to listen again), a recording of the webinar is now available by clicking here. DWT Payments team members Andy Owens and Adam Maarec were joined by Rich Fo… Read the rest

Simplification of Privacy Disclosures: An Experimental Test

Posted in Privacy and Data Security, Regulatory and Compliance
PLA today posts “Simplification of Privacy Disclosures: An Experimental Test,” in which Omri Ben-Shahar and Adam Chilton, both of the University of Chicago School of Law, having studied the consumer impact of such disclosures, conclude: “Our results reveal that none of the simplification techniques help inform respondents or affect their beha… Read the rest

CFSC Roundup: From Issuing Credit Online to UDAAP Compliance Management

Posted in Credit/Debit Payments Resources, Financial Services Litigation and Enforcement
DWT’s Payments Team participated in the ABA Consumer Financial Services Committee’s Winter Meeting in Park City, Utah last week. Andrew Owens delivered a presentation on advertising and issuing credit online during the program’s kick-off event, and Adam Maarec participated in a panel on how to integrate unfair, deceptive, or abusive act or prac… Read the rest

Recent Actions Added To UDAAP Database

Posted in Financial Services Litigation and Enforcement
PLA today updates the UDAAP database with a series of enforcement actions from the CFPB and, notably, the prudential regulators. The majority of enforcement actions involving allegedly unfair, deceptive, and abusive acts and practices (UDAAP) over the last six months have been filed by the Consumer Financial Protection Bureau (CFPB) using its UDAAP po… Read the rest

Foreign Vendor Due Diligence

Posted in Global Insights
Innovation outside of banks is driving sharp increases in outsourcing and partnerships, making foreign vendor due diligence an even more essential component of operating in the FinTech space. At ACI’s recent Advanced Legal, Regulatory and Compliance Forum on Cross-Border & Global Payments and Technologies in New York, DWT Payment team member ARead the rest

Recent Actions Added To UDAAP Database

Posted in Financial Services Litigation and Enforcement
The CFPB and FDIC have issued new enforcement actions that include allegations of unfair, deceptive, and/or abusive acts and practices (UDAAP) in connection with consumer financial products. We’ve updated our UDAAP Database with the most recent actions to facilitate understanding of the themes and patterns in UDAAP enforcement actions. In addit… Read the rest

The Interplay Amongst Prepaid Cards, New Technologies, and Emerging Payment Systems

Posted in Deals and Technology
On October 1, DWT Payments team member and Financial Services Practice Group Chair Claude Goetz joined a panel at ACI’s Prepaid Card Compliance Forum in Chicago to discuss “The Interplay Amongst Prepaid Cards, New Technologies, and Emerging Payment Systems, Including Mobile Wallets, Virtual Currencies, and EMV Cards: Exploring New Opportunitie… Read the rest

Evolution of the Mobile Payment Market

Posted in Deals and Technology
The payments industry stands on the edge of unparalleled payment innovation:  mobile wallets, wearables, cloud-based payment cards, tokens and digital cash.  What do they all mean and which ones are likely to actually change the way we pay for things? The banks remain key players in the deployment of major mobile payment solutions and the operation of t… Read the rest