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The CFPB itself is in a precarious position. Since its incep- James Huber, a partner in Global Legal Law Firm, and lead
tion, it has been depicted by Republicans as a case of gov- attorney in the lawsuit against Burrell, Hynes and their
ernment interference in a free-market economy. It has also companies, said he is aware that many ISOs have had is-
been mired in legal challenges, including challenges to its sues with Burrell, but most lacked the monetary resources
funding mechanism. The bureau is a unit of the Federal needed to pursue litigation. "The electronic payments in-
Reserve and receives funding from fees assessed financial dustry is a tight group and while competition is fierce, the
institutions for payment and related services. players should be treating each other fairly," the firm said
in a statement.
Now with Republicans about to assume control of both
the White House and Congress, these actions may be the Change is one constant
most that comes from the CFPB, at least for the next four If there is one thing that is certain in merchant services,
years. it's change. As Kopelman noted in an interview with The

Taking on unscrupulous lenders, for ISOs Green Sheet: beyond payments, software and partners have
become critical to merchant services.
Unscrupulous lenders were put on notice in 2024 when a
jury awarded $8 million to an ISO that was held "captive" "Much has changed since we started our ISO in 2001," he
by one such lender. said. And as 2024 proved, change continues to define the
merchant services space. As we look ahead to 2025, there
The jury found that Sabin Burrell, an entrepreneur and are apt to be many more changes, from the way payments
founder of several private investment firms and Boom are processed to how the government and courts look (or
Commerce, John Hynes, general counsel at Boom Com- don't look) at this vibrant industry.
merce, and their companies, breached multiple portfolio
agreements with Cliq, Inc., a California-based ISO and Patti Murphy, self-described payments maven of the fourth estate, is
financial technology company. They also were found in
breach of a loan note. The monetary award includes $3 senior editor at the Green Sheet. She also co-hosts the Merchant Sales
million in punitive damages against Burrell. Podcast, and is president of ProScribes Ink.
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