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CFPB’s Delay in Announcing Further Delay of the Prepaid Card Rule

December 28, 2017

Authors

Stan Koppel

CFPB’s Delay in Announcing Further Delay of the Prepaid Card Rule

December 28, 2017

by: Stan Koppel

The Consumer Financial Protection Bureau has issued a brief press announcement that the Prepaid Card Rule would be further revised and that the effective date for compliance will be further postponed from the current deadline in April 2018.

The announcement creates more worry than relief – it’s just a tease. The announcement did not say what changes would be made or when the new deadline will be. It only said that amendments to “certain aspects” of the rule would be coming “soon after

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Two Recent Card Payment Developments

August 18, 2017

Authors

Robert Klingler and Stan Koppel

Two Recent Card Payment Developments

August 18, 2017

by: Robert Klingler and Stan Koppel

Our Bryan Cave-affiliated sister site, the BC Retail Law Blog, recently published two posts that may be of interest to our banking, fintech and payments clients.

In “Bans on Credit Card Surcharges Face First Amendment Challenges,” the Retail Law Blog looks at how state laws that prohibit retailers from charging customers a surcharge for using a credit card are being challenged on First Amendment grounds.

For more than four decades, California’s Song-Beverly Credit Card Act of 1971 prohibited retailers from

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Thoughts on Payment Systems for Banks

April 14, 2017

Authors

Robert Klingler

Thoughts on Payment Systems for Banks

April 14, 2017

by: Robert Klingler

the-bank-accountJonathan and I sat down with our colleague, Stan Koppel, on Thursday, April 13th to discuss the intersection of payment systems and banks.   Stan joined Bryan Cave LLP following a 28-year stint with VISA, where he was originally the third lawyer employed.  In this episode of The Bank Account, Stan shares his background and touches on what’s working now and what’s ahead in the payments world for financial institutions.

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U.S. Supreme Court Rules NY Surcharge Law Regulates Speech

April 3, 2017

Authors

Stan Koppel

U.S. Supreme Court Rules NY Surcharge Law Regulates Speech

April 3, 2017

by: Stan Koppel

What the U.S. Supreme Court Did

The U.S. Supreme Court ruled last week that New York’s statutory ban on merchant’s surcharging customers who choose to pay with credit cards is a regulation of speech and is not merely a regulation of pricing conduct, as the lower court had ruled. New York’s statute, N. Y. Gen. Bus. Law Ann. §518, makes it a misdemeanor punishable by a fine or imprisonment for a merchant to “impose a surcharge on a holder who elects to use

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