Legislative, Regulatory & Legal

While the financial industry is supporting the use of chip-and-signature cards to meet the upcoming Oct. 1 EMV mandate, consumers are less convinced.

According to a new survey released by the National Retail Federation (NRF), 62% of U.S. consumers believe new credit cards being issued by banks don’t go far enough to protect card data or prevent fraud.

The National Labor Relations Board (NLRB) is questioning whether to use a broader definition of the term “joint employer,” a move that could bring sweeping changes to the restaurant and retail/wholesale franchisor model. Whether a large fast-food company exhibited more control than it should have over its franchisees was the most recent catalyst for the proposed change, but several earlier cases have challenged the more than 30-year-old standard for determining joint employment.

It’s official – Target Corp. will face a class action lawsuit related to its November 2013 data breach.

A federal judge in Minnesota has granted class action status to a suit brought by five financial institutions – Umpqua Bank, Mutual Bank, Village Bank, CSE Federal Credit Union and First Federal Savings of Lorain.

According to CNBC, PayPal has quietly begun partnering with online gambling sites to accept PayPal funds for payment.

Although PayPal has been consistently accepted by some foreign gambling sites, it has not been used by any U.S. gambling sites since its 2003 acquisition by eBay Inc. Now that PayPal is operating as a separate company, it has apparently started working with U.S. gambling sites again.

Huntington Beach, Calif. -- Quiksilver Inc. has got the OK on financing and on some store closures.

Quiksilver Inc. has received preliminary approval from bankruptcy court for a $175 million bankruptcy financing package. The surf apparel chain filed for Chapter 11 protection on Sept. 9.

Washington, D.C. - The National Retail Federation (NRF) is not backing down from its opposition to an expanded definition of “joint employer.”

The NRF is publicly asking Congress to pass legislation introduced this week that would reverse a recent National Labor Relations Board ruling that significantly broadens the definition of a joint employer.

According to the NRF, the move would unfairly make companies that work with franchise locations or subcontractors responsible for actions they do not control.

New York -- The administration of Gov. Andrew Cuomo approved a wage increase that will gradually raise the minimum wage for fast-food workers in New York to $15 an hour. And now Cuomo wants the hike to be even broader.

Speaking Thursday at a labor rally in New York City, Cuomo proposed a $15 minimum statewide wage for all industries, with the increase to be enacted over time. It would give the Empire State the highest statewide minimum wage in the country. New York’s minimum wage is now $8.75 an hour.

Arlington, Va. -- A report says that only one in five debit and credit cards are ready for the EMV shift.

As retailers spend billions to upgrade their point of sale terminals to accept new chip cards before the Oct. 1 liability shift deadline, the nation’s largest card network acknowledged that a staggering number of magnetic “swipe” cards have not been replaced with new cards.