Ed Marshall Spoke on Business and Legal Considerations for Processors and Sponsor Banks and Threats to the Payments Industry During 2023 ETA Transact

Event Details

AGG Payment Systems industry team co-chair Ed Marshall spoke on two panels at the 2023 ETA Transact conference at the Georgia World Congress Center in Atlanta, Georgia.

On April 25, 2023, Ed spoke on the panel, “Current Business and Legal Considerations for Processors and Sponsor Banks.” This session discussed how processors and others should think about the contractual and continuity issues following the closure of a sponsor bank.

On April 26, 2023, Ed joined the panel, “Policy Threats to the Payments Industry.”

As federal and state policymakers are focusing rule writing and enforcement actions on the payments industry, this session addressed the policy overhang and what it means for product development, underwriting, and risk management.

During the panel, Ed shared that some of the FTC’s recent actions signal to the market that the agency expects not just the payment processor or the ISO to be aware of what a merchant is doing, but everyone who touches that merchant account, which is alarming.

“In the merchant context, the bar has been lowered, from active collusion to what might be called mere negligence in boarding, underwriting and monitoring a merchant account,” Ed said.

To read an article in Payments Dive about the policy threats panel with quotes from Ed, please click here.

To learn more about ETA Transact, please click here.