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Hassan Elhais | United Arab Emirates | 19 Jul 2023
Credit card litigation as a merchant in the UAE
With increase in availability of credit facilities provided by the banks, consumers have replaced currency with credit cards with pre-approved credit…
Arnon, Tadmor-Levy | Israel | 11 Jul 2023
Bank of Israel to allow fintech companies to connect to supervised payment systems
The Bank of Israel recently took a proactive step by issuing the Payment Systems Access Guide. This guide aims to provide information to fintech companies, both local and international, as well as other non-banking entities interested in participating in the core supervised payment systems alongside traditional banks. Its purpose is to present these entities with a comprehensive overview of......
Mintz | USA | 30 Jun 2023
Telephone and Texting Compliance News: Third Circuit Affirms $286,000 Fraud Counterclaim Arbitration Award
With a statutory damages provision, and no fee-shifting language, TCPA claims might seem like a one-way street as far as exposure goes. Not so, if…
Obhan & Associates | India | 24 May 2023
New Rule for Overseas Use of International Credit Card
On May 16, 2023, the Ministry of Finance (“MoF”) notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023…
Fried Frank Harris Shriver & Jacobson LLP | USA | 23 May 2023
Bank Settles CFPB Charges for Failure to Address Credit Card Disputes
A bank settled CFPB charges for failing to respond to customers’ credit card disputes and fraud claims. In a Stipulated Final Judgment and Order…
Arnon, Tadmor-Levy | Israel | 9 May 2023
Israeli government publishes bill on payment services and payment initiation
The Israeli government recently published a bill of law regarding the Regulation of Engagement in Payment Services and Payment Initiation. This bill serves as an update to the previous Memorandum of Law, released in January 2022. As a supplement to the Israeli Payment Services Law, the bill focuses on the licensing aspects pertaining to payment service providers and sets forth provisions with......
Fried Frank Harris Shriver & Jacobson LLP | USA | 19 Apr 2023
CRS Reviews Proposed CFPB Regulation on Credit Card Late Fees
The Congressional Research Service ("CRS") reviewed competing arguments on a proposed CFPB regulation on credit card fees. The proposed rule would…
Fried Frank Harris Shriver & Jacobson LLP | USA | 29 Mar 2023
CFPB Sets Comment Deadline on Proposed Changes to Credit Card Late Fee Regs
Comments on a CFPB proposal to amend Regulation Z, which implements the Truth in Lending Act ("TILA"), are due by May 3, 2023. The proposal requires…
Gordon Feinblatt LLC | USA | 21 Feb 2023
Maryland Legal Alert - February 2023
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to alter credit card late fee safe harbor amounts…
Hunton Andrews Kurth LLP | USA | 2 Feb 2023
Retailers Must Be Careful With Private Label Credit Card Advertising
The FTC unanimously approved a consent order this week requiring Credit Karma, LLC to pay $3 million dollars for allegedly advertising to consumers…
