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Table of Contents

Lead Story

The Sony breach is not a game

News

Industry Update

Legislation in the works

Webinar delves into fraud threats, solutions

Texting for redemption at the ETA

Verizon, Secret Service release data breach report

Features

GS Advisory Board:
Views on regulation and registration

The triple bottom line: people, planet, profits

Ken Musante
Interviews: Jeff Marcous

Research Rundown

Selling Prepaid

Prepaid in brief

IQPC survey raises regulatory alarm

USPS to sell AmEx gift cards

Views

Mobilizing banking's payment franchise

Patti Murphy
InsideMicrofinance.com

Education

Street SmartsSM:
Is now the time for registration?

Bill Pirtle
MPCT Publishing Co.

Technology game changers

Dale S. Laszig
Castles Technology Co. Ltd.

Raising the bar on PCI compliance

Heather Foster
ControlScan Inc.

Social media as a sales tool

Nicholas Cucci
Network Merchants Inc.

Company Profile

Paragon Application Systems Inc.

New Products

The mobile business card

Txt Biz Card
Field Guide Enterprises LLC

Inspiration

Spurring sales with valued-added verbs

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

May 23, 2011  •  Issue 11:05:02

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Legislation in the works

Regulation of the bankcard industry is the dominant theme of federal and state legislation introduced in 2010 and 2011. This kind of legislation appears to have bipartisan support in Washington and across the country.

On the federal level there is much attention on regulating and policing personal identification security issues. Federal legislators also are looking to legalize and regulate online gambling - but without credit card transactions - and lawmakers are demonstrating an interest in protecting Internet freedom.

Federal actions

More to the point for ISOs and merchant level salespeople are bills currently being considered in Washington. HR 1125, introduced by Rep. Chaka Fattah, D-Pa., would put a 1 percent tax on every electronic transaction; in return the money collected from the new tax would be used to eliminate the national debt and the national income tax.

The U.S. Senate and U.S. House of Representatives are both offering legislation to protect cyber information.

The White House recently offered a cyber security legislative proposal that is supposed to help guide and perhaps consolidate all of this legislation.

Among the cyber security measures currently on the legislative docket are S 799, sponsored by Sen. John Kerry, D-Mass., to put the Federal Trade Commission in charge of creating personal privacy protections and policing those rules once they are created. A second House bill, HR 1707, would similarly set policies and procedures for ensuring the protection of personal data.

Another bill in the works, HR 1174, would make Internet gambling legal, but the legislation would not allow credit card payments, according to the bill's language.

State moves

There is an effort in five states to enforce the restrictions on the kinds of prohibitions, restrictions and fees credit card companies can impose on merchants. These bills are remarkably similar in language and intent and generally enjoy bipartisan support though they are moving sluggishly through their legislatures when they move at all.

For more information on these bills, as well as other legislation of interest to payment professionals, please visit our new resource, Legislative Roundup, at www.greensheet.com/legislation.php.

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

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