Payment Systems

Payment SystemsSupport Services for a Variety of Industries

The Payment Systems practice area provides transactional, regulatory, compliance, and operations support services to a wide variety of clients, including financial institutions, transaction processors, auto dealers, finance companies, retailers and others in connection with various aspects of payment systems matters. We assist clients with a variety of payment products and issues, including drafting payment authorization forms and scripts, customer agreements and disclosures, as well as drafting and negotiating vendor agreements and outsourcing arrangements. We advise clients with questions concerning (for example):

  • Automated Clearing House payments and NACHA Rules
  • Bank Secrecy Act/anti-money laundering issues
  • Bill payment services
  • Check transactions
  • Electronic contracting
  • Electronic Fund Transfer Act (EFTA) and CFPB Regulation E
  • Expedited Funds Availability Act (EFAA) and Federal Reserve Board Regulation CC
  • Internet, telephone and mobile payments
  • Laws and card association rules governing credit cards, debit cards, payroll cards, prepaid value, and gift cards
  • Payment network rules
  • Truth in Savings Act (TISA) and CFPB Regulation DD
  • Wire transfers and Uniform Commercial Code (UCC) Article 4A (Funds Transfer) concerns