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NewsBriefs

Editor's Note: Following are excerpts from news stories recently posted under Breaking Industry In opening remarks, NAC Executive
News on our home page. For links to these and other full news stories, please visit www.green- Director Bruce Renard welcomed
sheet.com/breakingnews.php?flag=previous_breaking_news. new and returning attendees, en-
couraging them to visit with vendors,
CFPB issues new small-dollar loan rules share ideas and participate in interac-
The Consumer Financial Protection Bureau on Oct. 5, 2017, disclosed tough tive workshops. "NAC is the voice of
new rules for short-term, small-dollar lenders, like payday loan and auto title America's independent ATM provid-
loan companies. Key provisions of the rules, which have been five years in the ers and suppliers working to solve
making, require small-dollar lenders to assess the ability of applicants to repay our industry's most pressing issues,"
before making loans, as well as limit the ability of lenders to collect on these he stated.
loans by debiting the bank accounts of borrowers. The new rules, spelled out in NAC petitions Visa
a 1,700 page document, are set to become effective beginning June 2019. But the for DCC at U.S. ATMs
rulemaking could get shelved or revised. "The final rule likely faces a potential
vote to repeal it in Congress," attorneys with the law firm Kilpatrick, Townsend NAC is urging Visa to enable dynam-
& Stockton LLP noted in a recent blog post. They also pointed out that CFPB ic currency conversion (DCC) at U.S.
Director Richard Cordray's term at the helm of the CFPB is set to expire in ATMs. The not-for-profit association
2018, and any presidentially appointed replacement would have the authority unveiled a petition Oct. 12, 2017, at
to weaken or scuttle the rules. NAC2017, its fifth annual convention
and expo, held Oct. 10 to12, at Bally's
NAC2017 reflects retail ATM growth Las Vegas. NAC Executive Director
More than 500 attendees and 50 exhibitors gathered at Bally's Las Vegas Oct. 10 Bruce Renard said he is hopeful the
to 12, 2017, for NAC2017, the fifth annual convention and expo of the National petition will escalate the issue and
ATM Council Inc. The not-for-profit association, formed in 2011 and based in convince Visa to add DCC capability
Jacksonville, Fla., represents independent ATM owners, deployers and ven- to ATMs in the United States. "NAC
dors, many of whom traveled great distances to attend the popular event. members are questioning why Visa
is not supporting DCC at U.S. ATMs,
when Mastercard has enabled this
feature for years," Renard stated.
"This industrywide petition is broad-
ly supported by global providers."
iPayment supports, promotes
Small Business Saturday

iPayment Inc. launched a multichan-
nel initiative Oct. 11, 2017, designed
to help small and midsize businesses
(SMBs) leverage Small Business Sat-
urday. Created by American Express
Co. in 2010, the one-day event has
steadily grown year-over-year, in-
creasing consumer spend in local
communities across America. The
2016 Small Business Saturday Consumer
Insights Survey estimated 112 mil-
lion consumers participated in the
one-day event. Retail analysts expect
small merchants to outperform last
year's numbers Nov. 25th, when the
event will take place in all 50 states
and Washington, D.C., iPayment rep-
resentatives stated.
PayPal goes mobile
with Venmo POS play

PayPal Inc. is launching a mobile as-
sault on the retail POS. The online
payment giant recently reported that
consumers can now use their Venmo
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