Payment Processing + Cards

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In this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, explore the dynamic landscape of partnerships between financial institutions and digital asset firms. They discuss the increasing demand for payment enablement, highlighting how these institutions facilitate fiat currency transactions through strategic collaborations with digital asset providers.

In this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, explore the dynamic landscape of partnerships between financial institutions and digital asset firms. They discuss the increasing demand for payment enablement, highlighting how these institutions facilitate fiat currency transactions through strategic collaborations with digital asset providers.

In this insightful crossover episode of The Consumer Finance Podcast and Payments Pros, host Jason Cover is joined by Mark Furletti and Jeremy Sairsingh to delve into the intricate world of credit card rewards programs. Discover the various types of rewards, from points-based systems to cashback and travel miles, and learn how these programs are funded. The episode also explores regulatory perspectives, including recent CFPB guidance and state-specific laws affecting rewards programs.

In this crossover episode of The Consumer Finance Podcast and Payments Pros, Jason Cover is joined by Mark Furletti, Taylor Gess, and Jeremy Sairsingh to discuss the intricate world of credit cards. Whether plastic, metal, or digital, credit cards have significantly evolved over time, along with their regulations. This episode examines the historical roots, modern functionalities, and the regulatory landscape that governs credit cards. Discover how innovations like buy now, pay later models are reshaping consumer credit, and gain insights into the future of credit card regulation.

In this episode of Payments Pros, hosts Keith Barnett and Carlin McCrory examine the recent $5 million settlement between the Federal Trade Commission (FTC) and Paddle.com, a UK-based payment processor. The discussion centers on the FTC’s allegations against Paddle for violating the Restore Online Shoppers’ Confidence Act (ROSCA) and the Telemarketing Sales Rule (TSR). Paddle’s practice of aggregating merchant transactions under its own name led to significant compliance issues with card network rules and masked chargeback levels and disputes. The settlement imposes strict prohibitions on Paddle, including barring it from processing payments for tech support merchants and requiring enhanced client screening and monitoring.

In this episode of Payments Pros, Carlin McCrory is joined by Pete Jeydel, a partner in the firm’s White Collar Litigation + Investigations Practice Group, to discuss the new Department of Justice (DOJ) Data Security Program (DSP), which took effect earlier this year. The DSP, administered by the DOJ’s National Security Division, aims to enhance protection for sensitive personal data linked to U.S. persons for activity involving countries of concern like China and Russia. Pete explains that this regulatory framework is distinct from traditional data privacy laws, emphasizing national security over individual consent and contractual protections. The program emerged rapidly following an executive order from President Biden in February 2024, reflecting long-standing concerns about foreign data access.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Jason Cover to introduce an upcoming special series focused on point-of-sale finance, a rapidly evolving sector in consumer financial services. This teaser provides a sneak peek into increasingly popular topics that will be discussed throughout the series, including innovative point-of-sale finance solutions such as payment methods beyond traditional credit and debit cards, in addition to a diverse range of products and the dynamic interactions between fintech lenders, financial institutions, and merchants. The series will also explore foundational concepts and specific models across various industries, such as home improvements and medical financing, setting the stage for a deep dive into the transformative impact of point-of-sale finance on consumer transactions.

In this episode of Payments Pros, host Carlin McCrory discusses a recent consent order between Patriot Bank and the Office of the Comptroller of the Currency (OCC) following a $27 million loss. The order addresses unsafe practices and legal violations, focusing on prepaid card program oversight. Key areas of concern include the need for a strategic plan, evaluation of internal operations, and staffing requirements. The bank must also enhance its Customer Identification Program (CIP) and ensure adequate monitoring of third-party program managers.