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Table of Contents

Lead Story

Improving the MLS 'away game'

Dale S. Laszig

News

Industry Update

News Briefs

Features

Strong showing for payments on 2017 Inc. 5000

Gamification packs a punch

Views

Legal pot sales: a cardless boom

Patti Murphy, ProScribes Inc.

New CFPB anti-arbitration ruling will hurt consumers

Heather Petersen
National Merchants Association

Education

Street SmartsSM:
Why not talk to Steve?

Steven Feldshuh
Merchants' Choice Payment Solutions East

The race from zero to hero

Stu Rosenbaum
Prodigio LLC

Learning from loss leads to future wins

Jeff Fortney
Clearent LLC

Helping merchants with PCI compliance

Rafael Lourenco
ClearSale

Company Profile

DCS Holdings Group LLC

Rocketpay Group

New Products

Data-driven intelligence for ecommerce protection

ThreatMetrix Dynamic Decision Platform
ThreatMetrix Inc.

Inspiration

The beauty of long pauses

Departments

Letter from the editors

Readers Speaks

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

September 11, 2017  •  Issue 17:09:01

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Readers Speaks

Are we out of the regulatory woods?

With the official close of Operation Choke Point in mid-August and then, not very long after that, the dismissal of a CFPB case against a number of processors (Global Payments was the biggest defendant) does this mean we can relax about the legal attacks inflicted upon us? I mean, people, good people, were driven out of business by DOJ overreach. Things have gone way too far. It would be good if those who provide processing to merchants day in, day out, 24/7/365, could catch a break.

Ronnie Graham, Merchant Level Salesperson

Ronnie,

There is almost widespread agreement in the payments industry that Operation Choke Point, the government initiative to cut off designated industries from their ability to process payments, was harmful because it appeared to make no effort to distinguish between guilty and innocent parties. This goes against both the assumption of innocence until proven guilty and a general sense of fair play.

That said, the case brought by the Consumer Financial Protection Bureau against Global Payments Inc. , Frontline Processing Corp., Electronic Merchant Systems and Pathfinder Payment Solutions, wasn't dismissed on the merits of the case. It was dismissed because the CFPB refused to follow instructions the court issued in an effort to get the agency to be more cooperative in the discovery process. (For further details, see "Court strikes down case against payment processors" at www.greensheet.com/breakingnews.php?flag=breaking_news&id=1896.)

We expect the CFPB, Federal Trade Commission, Federal Deposit Insurance Corp. and other regulators will continue to keep an eye on the industry and bring actions against companies when the agencies believe they have uncovered evidence of wrongdoing. Unfortunately, based on feedback received on this page about bad actors proliferating in our industry, it appears this kind of measured oversight, while dreaded, is needed.

Editor

This is your page

What stands out to you in terms of the industry's latest news and trends? Do you think the feet on the street are getting the support they need to adapt to a changing business environment? Are any recent acquisitions and partnerships going to affect your livelihood? We will welcome your thoughts at greensheet@greensheet.com.

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

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems