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This article contains excerpts from news stories recently posted Relief package paves way for
under Breaking Industry News on our homepage. For links to these more SBA-backed loans
and other full news stories, please visit www.greensheet.com/break-
ingnews.php.. A new COVID-19 relief bill will deliver financial help to
ISOs, MLSs and their merchants. Key elements of the $900
billion relief package, which passed as part of government
funding bill in the waning days of 2020, include $284 billion
in funding for a new round of potentially forgivable loans
to help small businesses keep employees on their payrolls.
Additionally, the legislation authorized up to $600 in cash
rebates to single taxpayers earning under $87,000; under
$174,000 for married couples. Eligible small business that
missed the first round of PPP loans will be able to apply
Card use, abuse spiral upward for PPP loans under the same rules that applied last year.
Year-over-year growth in payment card usage has Federal Judge overturns parts of CFPB prepaid rule
provided revenue streams to merchants, service providers
and cybercriminals, according to new analysis by the A federal judge in Washington, D.C., gave payment
Nilson Report, Arkose Labs and Bluefin. Analysts expect processing giant PayPal a win in its efforts to deep six
these trends to continue into the new year. Issue 1187 of rules established by the Consumer Financial Protection
the Nilson Report, published December 2020, reported Bureau for prepaid cards and digital wallets. U.S. District
$42.274 trillion in global credit, debit and prepaid card Court Judge Richard Leon ruled on Dec. 30, 2020, that the
activity in 2019, a 4.2 percent increase over the previous CFPB's rulemaking authority under the 2010 Dodd-Frank
year. Global losses during 2019 involving payment card Act does not grant it authority to dictate how prepaid
issuers, acquirers and merchants rose to $28.65 billion, a card and digital wallet providers disclose fees, nor can
2.9 percent increase compared to the same period in 2018. it restrict when consumers link credit card accounts to
digital wallets. And he invalidated
those provisions of the Prepaid Rule.
Industry leaders respond to
REIMAGINE THE ART OF USAEPAY.COM Capitol Hill assault
866-570-2051
TRANSACTION As CEOs from numerous industries
respond to the Jan. 6, 2021, attack on
Capitol Hill, payments and security
RETAIL
E-COMMERCE
M
MOBILEOBILE
leaders noted that security breaches
are not limited to the digital world.
In a Jan. 11, 2020, interview with The
Green Sheet, Jodie Kelley, CEO of the
Electronic Transactions Association,
said ETA staff members were "shocked
and deeply saddened" by the attempt
to overturn the election by force.
"This revolt against our democratic
process, attack on the Capitol, and
endangerment of elected officials is
counter to everything we stand for
as a nation. ... ETA looks forward
to working closely with the Biden
administration and the 117th Congress
to address the critical issues of our
day including the ongoing pandemic,
economic uncertainty and record
unemployment."

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