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January 31, 2013 by Madeline Aufseeser

Based on the settlement of the largest anti-trust lawsuit in U.S. history, merchants will, beginning on Sunday, February 3, be able to start charging consumers a "checkout" fee for using a Visa or MasterCard credit card. Ten states do not (and will not) allow surcharging; in the remaining 40, merchant requirements to enable surcharging will be strict.

January 24, 2013 by Nancy Atkinson

The Consumer Financial Protection Bureau (CFPB) this week further delayed the effective date of its final rules for remittances (consumer-initiated international money transfers), as outlined in Section 1073 of the Dodd-Frank Act. The rules, originally scheduled to take effect on February 7, 2013, have now twice been delayed. A new effective date will be announced “later this year” (90 days after the entity issues a revised final rule), the CFPB said Tuesday in a blog post.

January 23, 2013 by Enrico Camerinelli

There is no question that the principles of supply chain finance (SCF) are strong and that the correspondent benefits are considerable. The perspective to get financed on the basis of the client’s creditworthiness should line up multitudes of roaring companies demanding for such an attractive—and apparently low cost—facility. Yet, reality shows that SCF programs are evolving very slowly and are far from widespread adoption. Financial institutions have invested significant resources in money, time, and staff to develop and market SCF programs but have so far obtained relatively small returns compared to the initial expectations. Non-finance companies represent a growing SCF alternative to banks but their firepower is a small fraction of what financial institutions may put in place.

January 15, 2013 by Virginie O'Shea

The Financial Stability Board last week published its list of the members of the Regulatory Oversight Council (ROC) for the global legal entity identifier (LEI) system, and it should come as no surprise that Europe and the United States dominate the list. More than half of the members (which comprise regulators and central banks) hail from Europe (51%);  despite the number of countries that are present in the Asian region, it ranks at the same level as North American participation (16% -- see figure below).

January 14, 2013 by Enrico Camerinelli

The recent, somewhat unexpected announcement that Wall Street Systems (WSS) is acquiring IT2 Treasury Solutions from CapMan has all the connotations of déjà vu.