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Experience Connections Knowledge

May 6, 2019 | Nicole Meisner

Legislative Watch: New Merchant Agreement Requirements

The Maryland legislature has passed legislation that, if signed by the Governor, will require merchant acquirers to revise their merchant applications and agreements. Under the proposed law, merchant services providers, financial institutions, independent sales organization (ISO’s), or any subsidiary or affiliate of those entities (“Credit Card Processors”) will be required to provide merchants with specific …

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February 20, 2019 | Jaffe Law

AML Program Tips

Developing an anti-money laundering program (AML) can prove challenging for card processing companies. While not an exhaustive list, here are 9 areas that an AML program should be sure to include: Firm Policy – A general written AML policy reflecting the fulfillment of the obligations set forth in the AML program. AML Compliance Person – …

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January 18, 2019 | Holli Targan

The Surcharge Muddle: NY Ban Law Survives Lawsuit

The legality of surcharging keeps getting more confusing. Recent reports seem to indicate that New York’s law prohibiting surcharging was overturned. Unfortunately, that overstatement confuses the actual status of the statute. As you may recall, the card brand rules allow merchants to add a fee on top of the regular price for goods and services, …

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January 2, 2019 | Holli Targan

GDPR Applicability to U.S. Merchants, Processors and Acquirers

The EU General Data Privacy Regulation (GDPR) was adopted in 2016 and went into effect on May 25, 2018. The GDPR is a framework regulation that is designed to provide a uniform regime to protect the privacy of an individual of the European Union (“data subject”) whose personal data is collected, stored, or processed. The …

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October 15, 2018 | Daniel Ungar

The California Consumer Privacy Act

Following closely on the heels of the EU’s General Data Protection Regulation (GDPR), California recently enacted its own consumer privacy law called the California Consumer Privacy Act of 2018 (CCPA). The law, which requires protection of personal information of California residents, was passed in June and then amended in late September. Merchants and payment processors …

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October 9, 2018 | Daniel Ungar

Texas Latest State to have Surcharge Ban Declared Unenforceable by Federal Courts

In March 2017, the United States Supreme Court issued its opinion in Expressions Hair Design v. Schneiderman, on a challenge to New York’s law prohibiting credit card surcharges. The Supreme Court held that the law restricts merchants’ speech by banning surcharges while allowing cash discounts—two similar business models that differ only by how a merchant’s …

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