Payments Regulation Outlook

Manatt Consumer Financial Services Partner and Financial Services Associate wrote an article for Competition Policy International discussing emerging trends in the payments industry as well as how payments law may develop over the coming months and years at both the state and federal levels.

In the article, the authors explored several trends driving change in payments regulation, including the recent adoption of the Conference of State Bank Supervisors Model Money Transmission Modernization Act in several states, the uneven coverage of digital currency and digital assets under state money transmission laws, and the pullback of federal regulatory activities.

“On the state level, while progress has been made towards establishing a uniform nationwide regulatory framework, there is more progress to be made and true uniformity may not ultimately be possible. On the federal level, while various signs point towards decreased regulation of the payments industry, companies should remain mindful of compliance, including to be prepared for the possibility that the regulatory pendulum to swing back towards increased regulation,” they wrote.

Competition Policy International subscribers can read the full article .