Antitrust Group

Payments News Update – August 6, 2020

Legal and Regulatory Developments SPOTLIGHT: Exclusive: China's Central Bank Urges Antitrust Probe Into Alipay, WeChat Pay Reuters – August 6, 2020 China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions to quash competition, sources with knowledge of the matter...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.

Facebook sues EU antitrust regulator for excessive data requests.  Facebook is suing EU antitrust regulators for seeking information beyond what is necessary, including highly personal details, for their investigations into the company’s data and marketplace, the U.S. social media group said. Facebook...

Payments News Update – July 30, 2020

Legal and Regulatory Developments SPOTLIGHT: Durbin Asks Fed Chairman for ‘Appropriate Enforcement Action’ Involving Debit Card Transaction Routing Digital Transactions News – July 28, 2020 (click here for Sen. Durbin's letter) U.S. Sen. Richard Durbin and a Vermont Congressman want the Federal Reserve to look into what they say are efforts by debit card issuers “aided by the dominant card networks”...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.

House panel reschedules Big Tech CEO hearing for Wednesday.  A congressional hearing on digital marketplace competition featuring the chief executives of four of the largest American tech companies has been rescheduled for Wednesday, a House subcommittee said on Saturday.  The CEOs of Facebook,...

Payments News Update – July 23, 2020

Legal and Regulatory Developments SPOTLIGHT: Open Banking for the Unbanked: How the Pandemic Is Affecting Innovation in LatAm PYMNTS – July 22, 2020 With nearly 50 percent of the Latin American population unbanked, there’s a growing appetite for mobile banking services. And the ongoing pandemic is only accelerating this trend, says Paula Arregui, chief operating officer for Mercado Pago. In the latest...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.

FTC considering deposing top Facebook executives in antitrust probe: WSJ.  The U.S. Federal Trade Commission is considering taking sworn testimony from Facebook Inc.’s top executives Mark Zuckerberg and Sheryl Sandberg as a part of its probe into whether the company has engaged in unlawful monopolistic...

Payments News Update – July 16, 2020

Legal and Regulatory Developments SPOTLIGHT: UK Tightens Rules on Payments Firms in Wake of Wirecard Debacle PYMNTS – July 9, 2020 The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. The Financial Conduct Authority (FCA) said Thursday (July 9) it...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.

Uber, Postmates deal would dominate Los Angeles, Miami markets.  Uber Technologies Inc.’s plan to buy Postmates Inc. could pose problems in Miami and Los Angeles where the two dominate the food delivery market, according to antitrust experts who said it would be difficult to set up an asset sale to...

Payments News Update – July 9, 2020

Legal and Regulatory Developments SPOTLIGHT: Bipartisan Senate Bill Would Punish Retailers for Refusing Cash Payments CNBC – July 2, 2020 Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D., have introduced a bill prohibiting retailers from declining cash payments from customers, as businesses promote “contactless” digital payment as they grapple with the coronavirus pandemic. Retailers and mall owners,...