Aussie Senate to investigate 'infuriating' ATM fees

Members of Australia's Labor and Greens parties called for banks to justify the 'pure profit' they make by charging off-us fees.

FEATURES


Lawmakers take an interest in electronic payments

Both branches of Congress have formed bipartisan caucuses focused on payment technologies and data security in the US.

USPO review invalidates 'abstract' check imaging patent

Whether this is great news or just 'sort of good news' to companies paying royalties to DataTreasury might depend on their licensing or settlement terms.

'Am I my cardholder's keeper?'

Should ATM providers answer for the poor judgment of end users? A federal case in Oregon could hold the answer.

Do EMV upgrades trigger ADA review?

IADs whose ATMs were not up to ADA standards as of March 15, 2012, might want to review their portfolio before simply buying EMV upgrade kits for existing machines.

ATM fee placard lawsuits and the 'substantive' right to save time

The Reg E rollback scrapped a federal requirement for redundant fee notices at ATMs, but the letter of the law still trumps logic in pre-repeal lawsuits.

The bitcoin-ISIS connection

An analyst says he has found proof that the terrorist organization is using virtual currency to fund its operations.

What's on the horizon for the bitcoin ATM?

Bitcoin took some bumps in 2014; what might that mean for the bitcoin ATM? Sam Ditzion of Tremont Capital Group offers his point of view.

The ATM industry wins another victory against patent trolls

The court not only found that the patents asserted were invalid, but also left the door open for companies subject to baseless infringement claims to bring counterclaims for damages.

ATMs lose their charm in Chile

The current ATM availability crisis and exchange of public blows highlight the essential nature of ATMs in today's payment ecosystem.

Fed's controversial 'Choke Point' collars ATM processors

The government's Operation Choke Point initiative has put a stranglehold on many law-abiding businesses — including payment processors and pornographers.

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NEWS


FIS opens Center for Regulatory Intelligence in DC

​The center will provide insight on regulatory changes in order to help financial services clients stay compliant with new regulations, the company says.

Kansas pols pass quick fix for controversial ATM cash limit law

Under threat of federal intervention, the state backtracked on a $25 daily limit for ATM cash withdrawals made with prepaid EBT cards.

Fed to explain reasoning behind Durbin interchange fee calculation

US District Court Judge Richard Leon expressed pessimism that 'everyone could be happy' with the promised guidance.

Banco de Chile taps Wincor Nixdorf for 500 extra-secure ATMs

The new units comply with a government mandate that calls for the replacement of every ATM in Chile with a more physically secure device by 2018.

ATM lottery tix nixed in Minnesota

By an overwhelming majority, the Minnesota legislature last month passed a law banning the sale of lottery tickets at ATMs and fuel pumps.

Final BitLicense rules released

New York has released the final version of BitLicense, solidifying the regulatory framework in the state.

ATM cash limit for TANF recipients puts Kansas crosswise with Fed

The legislature will have shot itself in the foot if a daily ATM cash limit of $25 for welfare recipients costs the state $102 million in annual block grants.

CFPB ropes payment processors into lawsuit against bogus debt collectors

The suit claims that the payment processors 'knew, or should have known, that the debt collectors were engaged in unlawful conduct.'

Kansas legislature caps TANF daily ATM cash withdrawals at $25

Apparently, legislators forgot that most ATMs dispense banknotes in multiples of 20 or 10, making the effective limit for most needy families $20.

Fee-free ATMs on the rise in the UK

A government program that allows tax relief to business owners who offer fee-free ATMs appears to be working.

End 'legal extortion' by patent trolls, ICBA urges Congress

Last week, a member of the community bankers group pressed a House subcommittee to take three specific actions against trolls.

Korea sets moratorium for mag stripe transactions at ATMs

Only chip cards will be accepted at ATMs; POS terminals may still conduct mag stripe transactions, however.

Fiserv adds solutions to Financial Crime Risk Management Platform

The new components can help financial crime prevention professionals to more effectively detect, investigate and resolve crimes, the company says.

FI coalition advocates for efficient alternative to patent troll litigation

The coalition seeks to challenge 'abstract idea' patents through a patent office appeals process rather than expensive courtroom battles.

White House info sharing plan wins favor with ABA

The group encouraged Congress to craft legislation that protects merchants against frivolous lawsuits when voluntarily sharing information. .

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Keep abreast of the laws and regulations governing the ATM industry.