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Google Checking: a Bill-Pay Move? Shift Benefits Priority’s Results; FTC Probes Debit Routing
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FTC Probes Debit Routing and other Digital Transactions News briefs from 11/14/19
The Federal Trade Commission has started a preliminary inquiry into whether Visa Inc., Mastercard Inc., and large debit card issuers are blocking merchants from routing transactions over PIN-debit networks, the Bloomberg Law news service reported, citing anonymous sources. FTC investigators reportedly have contacted merchants and their trade groups, Bloomberg Law said. Spokespersons for …
Read More »Clearing up CBD Merchants; Splitit Offers B2B POS Credit; FTC Action Involves Merchant Accounts
FTC Action Involves Merchant Accounts and other Digital Transactions News briefs from 9/23/19
The Federal Trade Commission announced settlements with the two principals of Apex Capital Group, an Internet marketer of dietary supplements and personal-care products the FTC accused of using deceptive free-trial offers and negative-option billing in the U.S. and United Kingdom. The defendants must surrender assets valued at $3 million or more and are barred …
Read More »Allied Wallet Settles With the FTC and other Digital Transactions News briefs from 7/19/19
The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.The two-day Amazon Prime Day event this week sold more than 175 …
Read More »Small Bank Adds TCH Real-Time Payments; Remote Checks Part of FTC Enforcement Action; Plus Weekly Recap
Settlements End What the FTC Calls a Massive Robocalling Scheme
A federal judge has ordered the two main perpetrators of what the Federal Trade Commission calls the “massive Pointbreak Media robocall scheme,” part of which involved remotely created checks, to pay $3.37 million to the FTC, the agency announced this week. U.S. District Court Judge Cecilia M. Altonaga in Miami …
Read More »Payment Processor Banned Following Violation of FTC Settlement
A federal judge has banned payments provider Priority Payout Corp. and its owner Thomas Wells from ever directly or indirectly working in the payment-processing industry following a violation of a 2009 settlement with the Federal Trade Commission. Announced last week, the ban, ordered by U.S. District Court Judge James C. …
Read More »Enticing Acquirers Abroad; P2P Dominates Banking Apps; $6 Million Settlement in FTC Merchant Case
With a Green Light From the CFTC, Three Trading Houses Get Set for Bitcoin Futures
CME Group Inc. said on Friday it will launch a futures contract for Bitcoin on Dec. 18, a move some expect will lend considerable stability to the market for the 8-year-old digital currency. Also on Friday, Chicago-based CME’s crosstown rival, Cboe Global Markets Inc., said it will announce “shortly” an …
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