Kutak Rock attorney Bryan Handlos authored the article "Lessons Learned From the RushCard Enforcement Action" for the March/April 2017 issue of the Nebraska Banker. The article is featured in the Counselor’s Corner section of the publication, which focuses on providing guidance on relevant legal issues.
Earlier this year the Consumer Financial Protection Bureau (CFPB) took action against UniRush, the company that administered the RushCard program, and MasterCard, the payment processor for the program. The CFPB ruled that UniRush and MasterCard failed to conduct adequate testing and preparation for the conversion of the RushCard program onto the MasterCard payment processing platform.
In this article Mr. Handlos discusses the facts and fallout of the CFPB ruling, and urges banks to be aware of all the moving parts when working with service providers.
To see the entire article, please see page 12 at the link below.
Handlos is a partner in the firm’s Omaha office and concentrates his practice on bank regulatory and consumer financial services matters. He represents banks, nonbank financial services providers and commercial customers acquiring financial services products. His experience includes consumer compliance, retail banking, operations, treasury services and core bank regulatory topics.