Susan Seaman will present, "Exploring the Rules & Regulations Related to Money Movement in Electronic Transactions," at the American Bar Association's Consumer Financial Services Committee Meeting on Sunday, January 7, 2024.
After a consumer completes an online point of sale (POS) credit transaction, how are the funds disbursed to the merchant, and what rules apply? This panel will explore the rules/regulations governing the transfer of funds, including POS and buy now pay later transactions. From back-end rules, complexities in transferring money from creditor to merchant and rules for fund transfers between financial institutions, payment platforms, and consumers – including rules/regulations that are not consumer facing. From disclosure requirements to compliance obligations, changes in law and proposed laws, we will address the intricacies of these transactions that are not seen by consumers and rarely reviewed by legal practitioners.
For more information, visit the event website.