Government Relations Hot Topics to Know
Government Relations Quick Recap
In case you missed the recent panel at Level Up 22, you can get caught up all of the important topics covered. Tony Ogden wrote up a few compelling areas for members to pay attention to closely.
Watch these spaces for ongoing hot topics:
- Compliance rules to ensure your organization is complying with US, Canadian and allied global sanctions against Russia
- Lawmakers fear cryptocurrencies could be the back door for sanctioned rubles (Click here for more info)
- Congress and federal regulators are focusing on setting new rules for crypto assets. The President’s Working Group issued a
report focused on regulating Stablecoins.
- Congress and federal regulators are also focused on BNPL, data harvesting, and Fintech. The CFPB issued an order to key pay
in 4 BNPL companies, looking for information about the product.
- States are focused on BNPL, imposing new taxes, and passing privacy laws. Utah just passed a new privacy law and New York
is contemplating one. Florida (HB 9) and Georgia (SB 394 – GCDPA) have pending consumer privacy legislation with a private
right of action. The Georgia Computer Data Privacy Act “GCDPA” is considered even stricter than California’s CCPA.
This session was moderated by Chris Geron, VP Global Client Security, Elavon.
Special thanks to Jonathan Genovese, VP of Regulatory Compliance at MerchantE, and Scott Talbott, SVP of Government Affairs at ETA, for their participation in Level Up 22 and this update.
Access recent Government Relations News released for Level Up 22:
“How Do Payments Companies Benefit from a Government Relations Program?”
MAC Government Relations SIG looks forward to keeping the membership educated and aware of legal and regulatory issues that
affect the payments industry.