The U.S. Court of Appeals for the District of Columbia recently concluded the structure of the Consumer Financial Protection Bureau is unconstitutional because, unlike other independent federal agencies, it is led by one director instead of a board of directors. However, the court did not rule the CFPB itself is unconstitutional. Thus, the controversial agency's final prepaid rules remain set for implementation next October. This issue's lead article delves into the CFPB's continuing role and what its new regulations mean for the prepaid realm.
U.S. agencies aren't the only government regulators with the power to affect payments industry business practices in the United States. In our Education section, you'll find a discussion of the EU's General Data Protection Regulation (GDPR) and how it affects U.S.-based companies doing business with customers in the EU. As you'll see, compliance with the GDPR is a complex process. Also in that section, are insights pertaining to EMV (Europay, Mastercard and Visa) on the first anniversary of the October 2015 liability shift, and perspectives from industry pros on the role of feature-rich POS technology in the success of merchant level salespeople now and in the future. You'll also find herein views on whether automated clearing house payments are actually more efficient than check payments; challenges involved in learning to adapt to and succeed in our networked world; and increased use of biometric devices, including fitness-tracking smartwatches, which experts predict will lead to widespread adoption of biometric payments in the future.
In the news are stories on research pertaining to U.S. EMV implementation thus far; further details on the CFPB's prepaid rules, which will govern prepaid debit cards, mobile wallets, person-to-person payments and more; highlights from the World Payments Report 2016, a comprehensive global payments study that found continued growth in noncash and electronic payment transactions; and discussion of the updated version of EMV 3-D Secure, which will be available in time for the year-end holiday season. Further news briefs cover tools for Small Business Saturday; EMV certifications and patents granted; investment rounds; individuals and companies honored for service and achievements; research on business-to-business transactions, regulatory control trends, mobile money, EMV speed and remote deposit capture; new partnerships and executive appointments; and more.
Did you do something new to help merchants prepare for the holidays this year? Tell us about it at greensheet@greensheet.com. And please keep your news coming to press@greensheet.com. 
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