A US Payment Rules Primer for the Compliance Minded Merchant

Locke Lord Partner Patrick Hatfield (Austin) co-authored an article examining the rules governing automated clearing house (ACH) and payment card systems, including the Payment Card Industry Data Security Standards (PCI-DSS). The authors note that ACH and payment cards are governed by a number of agreements from third-party payment processors to banks and state law or industry regulations. Hatfield advises that “Companies should examine their existing data security programme documents to confirm that their programme includes the appropriate terms to comply with PCI-DSS requirements.”

To read the full article, visit Risk & Compliance (subscription may be required).