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Table of Contents

Lead Story

The United States of microfinance

Patti Murphy
The Takoma Group


Industry Update

FDIC to seek public input on financial reform rules

Are thermal paper receipts toxic?

PCI SSC summarizes changes to upcoming standards


Research Rundown

Breaches across America
Installment three

Selling Prepaid

Prepaid in brief

Getting started in prepaid

Barry J. Kessler

King of the 'plastic' jungle


The Dodd-Frank Act: What it might mean for issuers and acquirers

Mark Brady and Ross Federgreen
CSRSI, The Payment Advisors

Respect yourself, elevate our profession: Quit selling on price

Jeffrey Shavitz
Charge Card Systems Inc.

Patent, patent, who's got a patent?

Brandes Elitch
CrossCheck Inc.


Street SmartsSM:
Riding the merchant chargeback learning curve

Ken Musante
Eureka Payments LLC

Use three basic desires to your marketing advantage

Daniel Wadleigh
Marketing Consultant

Assignment provisions in ISO and agent agreements

Adam Atlas
Attorney at Law

Social media and the MWAA

Peggy Bekavac Olson
Strategic Marketing

A primer on PCI scans

Tim Cranny
Panoptic Security Inc.

Considering consequences improves results

Jeff Fortney
Clearent LLC

Company Profile

SignatureLink Inc.

New Products

Data management for ISOs, merchants

Nucleus Platform


Organize your life for peace of mind


2010 Calendar of events



Resource Guide


A Bigger Thing

The Green Sheet Online Edition

September 13, 2010  •  Issue 10:09:01

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FDIC to seek public input on financial reform rules

On Aug. 12, 2010, The Federal Deposit Insurance Corp. stated it will accept public input as it prepares regulations for the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law on July 21.

Under the complex, 2,100-page law, the FDIC and the Federal Reserve are each given distinct regulatory responsibilities; the Fed, for example, is charged with devising regulations pertaining to Section 1075, "Reasonable Fees for Rules and Payment," which addresses, among other things, debit card interchange.

According to industry insiders, many other provisions of the law may also affect the acquiring section. Said provisions require notice-and-comment rulemaking and action by the FDIC or other duly appointed agencies. This reportedly reflects a level of transparency heretofore unseen, extending beyond the 1946 Administrative Procedure Act, which governs the way federal agencies propose and establish regulations.

"Transparency is always a good thing," said banking expert Travis Powers, Vice President of Partner and ISO Relations at CrossCheck Inc. "I believe consumer advocacy groups will become actively involved in the process. The question in the end will ultimately be whether they actually use that public input to create the policy changes."

According to Andrew Gray, Director of the Office of Public Affairs at the FDIC, variable timelines are associated with the required rulemaking. "We intend to move quickly through the process," he said. "We've already announced a reorganization as part of the legislation and will be moving forward through the formal rulemaking process, allowing for notice and comment, etc."

The FDIC board-approved reorganization includes the creation of a new Office of Complex Financial Institutions and Division of Depositor and Consumer Protection to help carry out its newly mandated responsibilities.

Voicing an opinion where it counts

The primary forums for federal disclosure and public input on reform policy rules are as follows:

For further information, visit the FDIC's dedicated financial reform page at The FDIC will also file chronological posting notices on proposed and final rules pertaining to the legislation at

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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