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Compliance Guide to Payment Systems: Law and Regulation

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The Payment Systems Guidance You Need

The proliferation of alternative payment systems in recent years has created confusion for consumers, merchants, and financial institutions. With the emergence of new payment systems, such as Internet banking, smart cards, and mobile banking, bankers have been required to stay abreast of all the laws and regulations. Now, for the first time, you can find expert guidance to all the payment laws and regulations in one place. Compliance Guide to Payment Systems: Law and Regulation is written specifically for bankers, to give you the practical guidance you need. Compliance officers, security officers, and operations personnel in financial and depository institutions need to understand the rules about all types of payment systems, including:

•  Money/currency
•  Bank checks
•  Allocation of loss for check fraud
•  Mobile banking
•  ACH networks
•  NACHA Rules
•  Credit CARD Act
•  Credit card disclosure requirements
•  Smart cards and stored value products
•  CFPB changes to Regulation Z regarding the ability-to-pay requirement for the issuance of a credit card and the restrictions on fee harvester cards
•  FRB gift card rules
•  High-to-low debit posting
•  CFPB investigation of overdraft programs
•  Unfair, deceptive, or abusive acts and practices (UDAAP)
•  Credit union share drafts
•  Remittance instruments
•  Payable-through drafts
•  Documentary drafts
•  Letters of credit
•  Automated teller machines (ATMs) and automated intake of ATM deposits
•  Wire transfers, including security procedures for in-person wire transfers and defenses to unauthorized wire claims
•  Responsibilities of ODFIs and RDFIs regarding high-risk originators and questionable debit activity
•  CFPB regulations regarding international transfers
•  Internet transactions and toxic websites
•  Unlawful Internet Gambling Enforcement Act
•  Corporate account takeover
•  Online authentication, including single-factor authentication resulting in bank liability
•  Home banking
•  Consensual security interests in deposit accounts

Organized the Way You Need It!

Compliance Guide to Payment Systems is organized by payment system--not regulation--making this the most user-friendly manual available. For each payment system, you'll find coverage of all the rules and regulations that apply, plus compliance strategies, practical tips, and drafting suggestions.

Subscribers will receive a downloadable file containing editable forms.

The eBook versions of this title feature links to Lexis Advance for further legal research options.

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Table of Contents

Table of Contents



Chapter 1: Overview of Payment Systems

Chapter 2: Bank Checks: Negotiable Instruments Law

Chapter 3: Bank Checks: Relationship Between Drawer and Drawee Bank

Chapter 4: Bank Checks: Rights and Duties of Collecting Banks

Chapter 5: Bank Checks: Final Payment and Return Deadlines

Chapter 6: Bank Checks: Check Fraud

Chapter 7: Remittance Instruments and Transfers

Chapter 8: Credit Union Share Drafts

Chapter 9: Payable-Through Drafts

Chapter 10: Documentary Drafts

Chapter 11: Letters of Credit

Chapter 12: Credit Cards

Chapter 13: ATM and Debit Cards

Chapter 14: ACH Networks

Chapter 15: Wire Transfers

Chapter 16: Stored-Value Products

Chapter 17: Internet Services

Appendixes