On October 26, 2016 HIMSS, the leading organization in the US for health information technology and data management, issued a Call to Action for the healthcare industry to work together with cybersecurity experts from different sectors to enhance the preparedness of the healthcare industry to the imminent threat of cyber-attacks. The Call to Action reinforces
CFPB Issues Final Prepaid Card Rule
On October 5, the Consumer Financial Protection Bureau issued its much anticipated final rules regulating prepaid card accounts. The final rules follow the proposed rules that the Bureau issued in December 2014, and are mostly unchanged from the proposed rules. The new rules apply to “prepaid accounts,” which the Bureau defines as accounts that are
Getting Your Legal House in Order: Key Considerations for Selling Your Payment Processing Business
Current mergers and acquisitions (M&A) activity in the payment processing and broader fintech sectors is robust. Private equity sponsors and other financial investors are often attracted to payment processing companies with recurring cash flow streams and relatively low overhead. Strategic buyers in this industry are usually interested in acquiring new customer relationships and complementary product
District Court Dismisses FDCPA Action Upon Finding of Proper Validation Notice
On August 23, the U.S. District Court for the District of New Jersey dismissed an action against a collection agency on issues related to a validation notice. In Rosa v. Encore Receivable Management, Inc. et al., No. 15-cv-02311, the plaintiff alleged that the collection agency sent letters to at least 50 people in New
Eleventh Circuit Dismisses FDCPA Case Against Debt Collector Based on Failure to Allege Consumer Transaction
On July 28, in a decision favorable for the collection industry, the United States Court of Appeals for the Eleventh Circuit affirmed a district court’s dismissal of an action against defendant Seattle Service Bureau, Inc., a debt collector, for claims alleged under the Fair Debt Collection Practices Act (“FDCPA”) and the Florida Consumer Collection
Payment Processor Group Files Amicus Brief in CFPB v. Intercept Case
On August 15, the Third Party Payment Processors Association (“TPPPA”), a national, not-for-profit organization of payment processors, payroll processors, and banks, this week filed a brief, amicus curiae, in support of the defendants’ motion to dismiss in the Consumer Financial Protection Bureau’s lawsuit against Intercept. The TPPPA filed the amicus brief in the United States
Federal Judge Rejects Challenge to CFPB Director’s Recess Appointment
On July 13, a federal judge tossed out a challenge to the recess appointment of Consumer Financial Protection Bureau Director Richard Cordray.
In State National Bank of Big Spring et al. v. Lew et al., the State National Bank of Big Spring, Texas, joined by conservative advocacy groups The Competitive Enterprise Institute and
Ransomware in Healthcare – A Clear and Present Danger
Health care entities and their business associates with access to electronic Protected Health Information (ePHI) are subject to the HIPAA Privacy & Security Rules. New guidance was just released regarding the requirements of the HIPAA Security Rule in the event of a ransomware attack. Additional information regarding the requirements of the HIPAA Privacy & Security
Arkansas Attorney General Announces Settlement with Online Payday Lender
On June 24, 2016, Arkansas Attorney General Leslie Rutledge announced a settlement agreement with payday lender, Western Sky Financial LLC, and loan servicer, CashCall Inc., to resolve allegations that the companies conspired to offer illegal online loans to Arkansas consumers while claiming to be shielded by tribal sovereign immunity.
According to the Arkansas Attorney General,
California Federal Court Tentatively Approves $5.7 Million Deal to Settle Class Action Alleging FCRA Violations Based on Background Checks
On May 23, a California federal judge issued a written tentative ruling indicating that she would likely approve AutoZone, Inc.’s agreement to pay $5.7 million to settle claims that the company illegally ran credit checks on 200,000 prospective employees.
In September 2014, two individuals filed suit on behalf of a class against AutoZone in the