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ETA Sends Letter Urging Action on the CFPB Rule on Prepaid

ETA today sent a letter to members of both the House and Senate requesting their support for use of the Congressional Review Act (CRA) to further examine the Consumer Financial Protection Bureau (CFPB) final rule on prepaid cards. Joint resolutions have been introduced in the House (H.J.Res.73) and Senate (S. J. Res. 19) to achieve this goal. If implemented, the final CFPB rule would stifle innovation by imposing an inflexible, one-size-fits-all framework on a variety of...

ETA Submits Comments to the New York Department of Financial Services Re: Proposed Cybersecurity Requirements

Today, the Electronic Transactions Association (ETA) submitted a comment letter to the New York State Department of Financial Services expressing strong concerns with its proposed cybersecurity requirements for financial services companies. ETA has long supported a flexible national standard for cybersecurity. As the only trade association at the intersection of payments and FinTech, ETA member companies uniquely understand how to secure our nation’s financial systems,...

ETA Submits Comments Responding to the NYDFS’s Proposed Cybersecurity Requirements for Financial Services Companies

January 27th. 2017 Dear Superintendent Vullo: The Electronic Transactions Association (“ETA”) appreciates this opportunity to provide comments on the New York State Department of Financial Services (“Department”) proposed Cybersecurity Rules for Financial Services Companies (23 NYCRR 500) (the “Proposal” or “Rule”). ETA is the leading trade association for the payments industry, representing nearly 550 companies worldwide...

ETA Congratulates President Trump On His Inauguration As the 45th President

On behalf of the payments technology industry, ETA congratulates Donald Trump on his inauguration as 45th President of the United States. We look forward to the opportunity to work with the Trump Administration to ensure that innovation in payments continues to power the U.S. economy. With more than $7 trillion in annual payments processed on behalf of more than eight million merchants, ETA’s member companies power commerce and retail sales in this country. We will...

ETA Submits Comments to OCC Regarding FinTech Charters

The Electronic Transactions Association (ETA) today submitted comments to the Office of the Comptroller of the Currency (OCC) regarding their recent white paper exploring chartering non-bank FinTech companies. Key points include: ETA supports the OCC’s recent announcement that it will consider applications for special purpose national bank charters from FinTech companies and recommends that the OCC adopt a flexible and collaborative approach to the design...

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