Antitrust Group

Payments News Update – January 5, 2024

Legal and Regulatory Developments SPOTLIGHT: NY Governor Pursues BNPL Regulation Payments Dive – January 3, 2024 New York Gov. Kathy Hochul announced Tuesday she’s pursuing buy now, pay later-related legislation that would require BNPL providers to obtain a license to operate in the state. The bill would also permit the state’s financial services department to propose and issue regulations for the...

Payments News Update – December 22, 2023

Legal and Regulatory Developments SPOTLIGHT: The Justice Department Takes Aim at Microtransactions Fraud Digital Transactions News – December 19, 2023 The U.S. Department of Justice announced late Friday it is filing cases against several fraud rings that use so-called microtransactions to mask their fraudulent activity from victims and card issuers. The lawsuits are being brought as part of efforts by the...

Payments News Update – December 15, 2023

Legal and Regulatory Developments SPOTLIGHT: Governor Hochul Signs Four New Laws to Protect Consumers from Price Gouging, Medical Debt and Unfair Business Practices New York State Press Release – December 13, 2023 Governor Hochul today signed legislation . . . that will curb predatory subscription services, and confusion over the price of many goods and services. . . . Legislation S.5941B/A.3245D requires...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.   Smaller Airlines Seek Mergers to Compete With Industry Giants.  Smaller airlines that operate in the shadow of the nation’s four dominant air carriers are increasingly feeling pressure to merge with others to gain access to more planes and airport gates. Those dynamics were on display in a federal...

Payments News Update – December 8, 2023

Legal and Regulatory Developments SPOTLIGHT: Lower Credit Card Transaction Fees Coming to Small Business as Canadian Agreement Reached Daily Hive – December 5, 2023 Canada has reached an agreement with Visa and Mastercard to lower credit card transaction fees for small businesses. This comes after businesses were allowed to pass the cost of credit card fees onto the consumer in October 2022. Now, The...

Payments News Update – December 1, 2023

Legal and Regulatory Developments SPOTLIGHT: UK Payment Sector Urged to Develop System to Bypass Dominant Card Networks Financial Times – November 22, 2023 (subscription required) The UK should develop ways to challenge the dominance of the big card networks and is “at risk of falling behind” other countries unless it builds an alternative to its “clunky” Faster Payment Service, according to a...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following.   NCAA faces new lawsuit over athletes' drive for compensation.  The National Collegiate Athletic Association has been sued in Colorado federal court for allegedly depriving student players of billions of dollars in compensation from televised broadcasts of college athletics. Former University of...

The Antitrust Week In Review

Here are some of the developments in antitrust news this past week that we found interesting and are following. Tesla beats lawsuit claiming it monopolizes repairs, parts.  A U.S. judge dismissed an antitrust lawsuit accusing Elon Musk's electric car company Tesla of forcing customers to pay high prices and suffer long waits for repairs by monopolizing the markets for vehicle maintenance and replacement parts. In...

Payments News Update – November 17, 2023

Legal and Regulatory Developments SPOTLIGHT: Why the CFPB Proposal for Big Techs May Affect the Entire Industry The Financial Brand – November 9, 2023 The Consumer Financial Protection Bureau is asserting the ability to perform examinations of major digital wallet and mobile payments providers in a regulatory proposal. This would be the first time entities like Apple Pay, Google Pay and more than a dozen...