TikTok isn't going away quietly. The company filed a lawsuit against the United States on May 7, 2024, in response to a bill passed by the House of Representatives that could lead to a nationwide TikTok ban over national security and data privacy concerns linked to its Chinese connections.

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As we reported previously, the Consumer Financial Protection Bureau, on March 5, 2024, finalized a rule to reduce typical credit card late fees from $32 to $8, a change aimed at relieving American families who pay over $14 billion annually in such penalties. This rule, effective May 14, 2024, targets the largest issuers, representing over 95 percent of the credit card market.

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While recurring payments are not the most popular way to for consumers to pay merchants, it is rare to find an individual or family that does not have at least one type of recurring subscription payment—utilities, gym memberships, mobile phone service. You get the picture.

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The following article by Chad Otar, CEO of Lending Valley Inc., offers a preview of what's included in our May 13, 2024, issue. The entire issue, which also features articles from Leo Arzumanyan, Elie Y. Katz, Allen Kopelman, Dale S. Laszig and Ken Musante, will go live online early next week:

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The Federal Trade Commission disclosed a significant enforcement action against global payments technology provider BlueSnap Inc., its former CEO Ralph Dangelmaier, and Senior Vice President Terry Monteith, for their alleged roles in facilitating transactions for deceptive businesses.

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If you want to break into the hospitality market, check out the National Restaurant Association's show coming up May 18 through 21, 2024, at McCormick Place in Chicago.

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If there were a meter for detecting cyberattacks, it would be sounding today off like a Geiger counter hitting a stash of gold. That's pretty much the upshot of Verizon Business's 2024 Data Breach Investigations Report (DBIR).

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It's looking like the proposed settlement in a class-action lawsuit between Visa, Mastercard and a class of merchants over interchange isn't about to end, despite a proposed settlement. The National Retail Federation asked a federal judge to reject the proposal, characterizing it as a "backroom deal."

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