Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Brant Rockney

Posts by Brant Rockney

California Near to Enacting Nation’s First Commercial Finance Disclosure Law

Posted in Regulatory and Compliance
In the final days of its 2018 session, the California legislature sent a flurry of bills to Governor Jerry Brown’s desk on topics as diverse as net neutrality, school start times, and clean energy. But it is SB 1235, “Commercial financing; disclosures,” that may be of particular note for commercial lenders.  The bill is designed to give small busine… Read the rest

Court of Appeals Ruling May Broaden Bank Liability for Unauthorized Internet Funds Transfers

Posted in Regulatory and Compliance
On July 3, the  U.S. Court of Appeals for the First Circuit overturned a district court ruling and allowed a lawsuit by Patco Construction Co. (“Patco”) to proceed against Peoples United Bank (the “Bank”) over $345,000 that was stolen from Patco’s bank accounts through internet fraud in 2009.  The district court for the district of Maine had… Read the rest

Consumer Financial Protection Bureau Gives important Guidance on Supervisory Jurisdiction

Posted in Regulatory and Compliance
On February 17, 2012, the Bureau of Consumer Financial Protection (the “Bureau”) published a proposed rule (the “Rule”) regarding “Defining Larger Participants in Certain Consumer Financial Product and Service Markets.” The Rule is authorized by Sec. 1024 of the Consumer Financial Protection Act of 2010 (Title X of the Dodd-Frank Act) an… Read the rest

Consumer Financial Protection Bureau Seeks Comments on Streamlining Regulation

Posted in Regulatory and Compliance
On December 5, 2011, the Bureau of Consumer Financial Protection (the “Bureau”) announced a project to streamline the regulations it has inherited from other federal agencies by “updating, modifying, or eliminating outdated, unduly burdensome, or unnecessary provisions.” The Bureau seeks public comment regarding the “highest priority… Read the rest

Square Updates Its “Register” and “Card Case” Apps for Loyalty

Posted in Deals and Technology
Mobile payments company Square has released updates to its “Register” and “Card Case” apps. Square’s original market solution is a small, square credit card reader that plugs into a merchant’s iPhone, iPad, or Android-based phone and, using Square’s Register app, turns the merchant’s iPad or smartphone  into a point of sale system t… Read the rest