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Deep Dive into Consumer Finance

Deep Dive into Payments: Emerging Issues in Payments Webinar

Read Time: 1 min

Join us to hear McGlinchey attorneys discuss innovations in the payments environment and developing payments applications. Aaron Kouhoupt, David Tallman, Rachael Aspery, and Heidi Urness will explore issues ranging from error resolution responsibilities, money movement and challenges entering the payment networks, as well as cannabis business challenges.

date & time
Tuesday, July 25, 2023
11 am PT / 1 pm CT / 2 pm ET

This webinar was recorded and is available for those who were unable to attend.

Please fill out the form below to view the recording.

Insights

Consumer Financial Services Alert

Understanding Payment Authorizations: Regulation E vs. NACHA Rules

May 1, 2024

Consumers often are able to effect transactions by providing payment authorization ahead of time. How often a consumer may authorize a prescheduled transaction differs slightly under Regulation E and the National Automated Clearing House Association (NACHA) Operating Rules and Guidelines (NACHA Rules).

Published Article

FinCEN Issues Updated Beneficial Ownership Information FAQs

December 1, 2023

On November 16, 2023, the United States Department of the Treasury Financial Crimes Enforcement Network (FinCEN) updated the Beneficial Ownership Information (BOI) FAQs in response to inquiries received relating to the BOI Reporting Rule.

Presentation

Regulations & Licensing

December 3, 2023

Member Heidi Urness (Seattle) will moderate a "Regulations & Licensing" panel, and Of Counsel, David Waxman (Cleveland) and Associate Daniel Shortt (Seattle) will join as panelists at the second National Interdisciplinary Cannabis Symposium in Portland, Oregon, on December 3, 2023.

Published Article

FinCEN Proposes Deadline to File Beneficial Ownership Information (BOI) Reports

November 2, 2023

On September 27, 2023, the Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (“NPRM”) in order to extend the deadline for reporting companies that were created or registered in 2024 to file the initial beneficial ownership information (“BOI”) reports.

Presentation

CrossTech World 2023

November 14-15, 2023

Member Amy Greenwood-Field (Washington, DC) will participate in three panels during CrossTech World 2023 in Miami, Florida, November 14-15, 2023.

Published Article

FinCEN Releases Beneficial Owner Reporting Compliance Guide

October 2, 2023

On September 18, 2023, the United States Department of the Treasury Financial Crimes Enforcement Network (FinCEN) announced and published a Small Entity Compliance Guide aimed to assist the small business community in complying with the beneficial ownership information reporting rule.

Presentation

CRB Due Diligence for Banking Executives

September 21, 2023

Complementary to compliance, due diligence is an extremely important part of cannabis banking. Beneficial ownership and layered legal entity structures are two hot topics; what else should an FI look for when onboarding a CRB? What about ongoing due diligence after a CRB is onboarded? On Thursday, September 21, 2023, Co-Chair of McGlinchey’s Cannabis industry group, Heidi Urness (Seattle), will join a panel, "CRB Due Diligence for Banking Executives," during the PBC Conference in Washington, DC.

Deep Dive into Consumer Finance

Podcast: Deep Dive Into Payments: Impacts of Money Transmission Laws

August 25, 2023

Today we're going to be talking about money transmission and how money transmission laws can impact people that are in the payments space and find themselves in the flow of funds or providing any kind of payment services to third parties.

Event

Deep Dive into Payments Clients-Only CLE

October 3, 2023

The final installment in McGlinchey’s Deep Dive Series covering all things payments is a client-only CLE webinar featuring attorneys from McGlinchey’s Financial Institutions Compliance team.

Published Article

The Fuss About Junk Fees, Pt. 2: Recent Regulatory, Enforcement, and Private Actions Challenging Fees

July 27, 2023

In this three-part series, we first reviewed the Biden Administration’s collaborative efforts with the CFPB and the FTC to regulate “junk fees.” In this second piece, we will highlight recent regulatory, enforcement, and private actions and trends. Third and finally, we will outline a few considerations for financial services companies to consider when navigating the new normal when it comes to challenges to so-called “junk fees” by consumers and regulatory agencies.

Alert

The Fuss About Junk Fees, Pt. 1: Biden, CFPB, and FTC Collaborate

July 19, 2023

This three-part series will first review the Biden Administration’s collaborative efforts with the CFPB and the FTC to regulate “junk fees.” Second, we will highlight recent regulatory, enforcement, and private action trends. Third and finally, we will outline a few considerations for financial services companies to consider when navigating the new normal when it comes to challenges to so-called “junk fees” by consumers and regulatory agencies.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into Payments

July 17, 2023

In this introductory video, Members of our Financial Institutions Compliance Team, Aaron Kouhoupt (Cleveland) and David Tallman (Dallas/Houston), will discuss this fascinating and vibrant subject matter while giving you a breakdown of the content you can expect in the coming weeks.

Podcasts

Podcast: Cannabis and Bankruptcy, Ep. 3: Considerations for Lenders

June 30, 2023

This is the third installment in our three-part series: “Exploring Issues in Cannabis and Bankruptcy.” In this final episode, we'll explore what the two recent decisions in Blumsack and Hacienda mean for creditors in the cannabis industry and also what rights are available to lenders and marijuana financiers in the bankruptcy context.

Alert

Marijuana & Banking: What’s the Hold Up? Pt. 1 – Conflicting Legal Landscapes

March 27, 2023

Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize recreational adult-use marijuana. However, the possession, distribution, and sale of marijuana remains illegal under federal law, which means any contact with money that can be traced back to state-legal marijuana operations could still be considered money laundering and expose a bank to significant legal, operational, and regulatory risk.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into Privacy

January 27, 2023

The world of cybersecurity and privacy have grown exponentially in recent years, both on the federal and state level. A pandemic-driven shift to remote has increased social media interaction, and electronic communication with state and federal governments increasingly focused on big data and the use and sharing of consumer information.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into DeFi Decentralized Finance

August 9, 2022

The world of decentralized finance, blockchains, virtual and cryptocurrency have grown exponentially in recent years. Many financial institutions are looking to enter or expand their operations in the digital economy, but the regulatory environment gives many pause.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into the Bank Secrecy Act

September 2, 2021

The Bank Secrecy Act (BSA) is the United States' most important anti-money laundering (AML) regulation that requires banks, money services businesses, FinTechs, and other financial institutions to assist U.S. government agencies to detect and prevent money laundering.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into the Fair Credit Reporting Act

April 21, 2021

The Fair Credit Reporting Act (FCRA) impacts every aspect of a U.S. consumer’s life. Consumer reports are obtained by lenders, employers, landlords, and even utility companies, impacting the cost of credit and everyday services, as well as the ability to obtain employment or access housing.