Payment Systems
BuckleySandler advises traditional and technology-based financial institutions on all aspects of payment systems matters, including risk management and compliance, loss allocation, new and emerging payment systems, and consumer protection statutes and regulations. Our practice includes advising on issues specific to:
- Credit cards and other charge cards
- Prepaid Debit Cards and other Stored Value Products
- ACH single entry and recurring transfers
- Money transmitters (state and federal)
- Electronic Equivalents of Negotiable Instruments (eNotes)
- Other types of electronic loan transactions
- Letters of Credit
- ATMs
- Wire transfers
- ACH WEB and TEL transactions
- Home banking
- Other electronic funds transfers
Our attorneys have extensive experience handling matters involving:
- Uniform Commercial Code
- ESIGN and UETA
- Unfair and deceptive acts and practices
- State money transmitter laws
- Federal money services business requirements
- Federal laws affecting payment systems
- Credit CARD Act
- Electronic Funds Transfer Act
- Check 21 Act
- National Automated Clearing House Association (NACHA) rules
Additionally, BuckleySandler advises clients regarding the development and implementation of innovative products and services, such as hybrid credit/debit/stored-value cards and electronic loan transactions.