2015 Rule Changes Add New Codes, Enhance NACHA’s Authority
Topics: Payments Compliance
As the digital financial marketplace grows, NACHA continues to define and refine the operating rules in order to close existing gaps or accommodate evolving industry activities. Since September 2015, new…
CFPB: Oral recordings may qualify as electronic signatures
Topics: Payments Compliance
On November 23, 2015, the Consumer Financial Protection Bureau issued Compliance Bulletin 2015-06, which sought to clarify the role of oral recordings used in the process of obtaining consumer authorization…
Commentary: CFPB Supervisory Highlights Report (Fall 2015, Issue 9)
Topics: Merchant Payment Processing
On November 3, 2015, the Consumer Financial Protection Bureau released their Fall 2015 Supervisory Highlights Report. The report highlights supervision work generally completed between May 2015 and August 2015. The…
How to Understand Convenience Fees
Topics: Merchant Payment Processing
Perhaps the key to understanding what convenience fees are is to understand what they are not. Convenience fees are not surcharges, which are costs added simply for the privilege of…
