Understanding the Basics of Payments Law
Read Time: 1 minUnderstanding the fundamentals of payment laws and regulations is crucial to understanding how payments work. So is having a clear understanding of how laws and regulations interact. Which law applies to a payment transaction depends on who the end users are, which institution acts as an intermediary, and the form of transaction used to move the money. The introduction of new payment service providers and completely new forms of currency and payments is raising questions about which laws apply to FinTech. With so many agencies overseeing overlapping aspects of the payments industry, different agencies may take contradictory views on emerging issues.
Aaron Kouhoupt (Cleveland) will present a session on “Understanding the Basics of Payments Law” during the Nacha Payments Legal & Compliance Summit on Wednesday, December 3, 2025. Aaron will provide an overview of the most significant laws and regulations governing payments, including Uniform Commercial Code Articles 3, 4, and 4A, the Expedited Funds Availability Act and Regulation CC, the Electronic Funds Transfer Act and Regulation E, the CFPB’s authority to act against unfair deceptive, and abusive acts or practices, and recent updates to Regulation J in relation to FedNow. He will touch on the rules that structure the Federal Reserve’s payments services, including Regulation J and the Fed’s Operating Circulars. Aaron will also discuss the OFAC/Bank Secrecy Act compliance regime that applies to all payments in the United States.
Nacha’s Payments Legal & Compliance Summit is a virtual event designed for legal professionals in the industry and those overseeing risk or compliance within their organizations. The Summit offers advanced-level education to keep you up to date on the latest compliance and regulatory developments across all payment networks. Learn more.