Many companies negotiate contracts containing merchant of record designations without fully appreciating the significance of that designation from a privacy and data security perspective.
For purposes of this article, the merchant of record is the party that both contracts directly with the payment processor and
Introduction
Over the past several weeks, secondary markets for private company stock have surged back into the spotlight. High-profile issuers like Anthropic and SpaceX are reportedly seeing active demand for “secondary exposure” through special purpose vehicles (SPVs), forward contracts, and other synthetic structures.1 For
Series Overview
This article is Part 1 of a four-part series, Fastest Route to Market: Licensing Roadmaps for FinTechs. The series will trace the main licensing paths available to FinTechs seeking
Richard B. Levin, the Chair of Taft’s FinTech Practice, was recently quoted in a Reuters article titled “Crypto giant Kraken’s Fed payment account sparks concerns about risk.” The article recognizes Kraken’s approval as a milestone that could reshape the financial system and discusses whether crypto
In the payments world, commentators note Illinois’ recent Interchange Fee Prohibition Act, which prohibits charging interchange fees on the tax or tip portions of processed transactions.
Key portions of the law take effect July 1.
By its terms, the Interchange Fee Prohibition Act also
The Financial Industry Regulatory Authority (“FINRA”) and the U.S. Department of the Treasury (“Treasury”) (as part of a public-private partnership) have recently issued guidance regarding the use of AI by the financial services industry. This alert summarizes certain AI-related updates from the 2026 FINRA Annual
Nicole Meisner, chair of Taft’s PayTech and Payment Systems practice group, was mentioned in a recent BIGcast episode, “The State(s) of Financial Regulation.” In the episode, which aired March 24, 2026, Glen Sarvady speaks with Ncontracts’ Stephanie Lyon about the evolving regulatory and compliance landscape
Richard B. Levin, the Chair of Taft’s FinTech Practice, will be speaking on a panel at the securities Traders Association of New York (STANY) 90th Annual Conference on April 13, 2026, at the NYSE. The all-day conference will feature panels on market structure, crypto, and
Recent federal activity is sending a clear message to banks and payment companies: “debanking” decisions can no longer be driven by vague notions of “reputational risk,” and institutions should expect greater scrutiny of how they evaluate, onboard, and offboard customers.
In the past several months
Richard B. Levin, the Chair of Taft’s FinTech Practice, will be speaking on a panel at the University of Denver’s Sturm College of Law on April 8, 2026. The panel will focus on the evolution of finance, regulatory changes, and the legal considerations of advising