Payment Laws and Regulations
Cardholder Zero Liability Policy
Cardholder zero-liability policies are network or issuer programs that may limit consumer responsibility for certain unauthorized card transactions.
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Payment Laws and Regulations Terms
Jurisdiction-specific payment and consumer-protection statutes — educational information only.
Educational information only. ShouldEye does not provide legal, banking, or individualized financial advice. Dispute rights, deadlines, and outcomes depend on your payment method, card network, issuer, processor, jurisdiction, and the facts of your case. Legal Disclaimers
22 published definitions in this topic.
Payment Laws and Regulations
Consumer Duty
The Consumer Duty is a UK FCA standard requiring firms to deliver good outcomes for retail customers.
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Durbin Amendment
The Durbin Amendment is a US statutory provision directing Federal Reserve debit-interchange regulation for covered issuers and related routing rules.
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Electronic Fund Transfer Act
The Electronic Fund Transfer Act (EFTA) is a US federal law establishing consumer rights and error-resolution rules for many electronic fund transfers.
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Electronic Money Regulations
Electronic money regulations are laws governing issuance and safeguarding of electronic money by authorized e-money institutions.
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Funds Protection
Funds protection is umbrella language for legal and operational measures that keep customer payment balances available if a provider fails or errs.
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GDPR for Payment Data
GDPR for payment data refers to applying the EU General Data Protection Regulation to personal data processed in payment and merchant workflows.
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Nacha Rules
Nacha Rules are the private-sector operating rules governing the ACH Network in the United States.
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Open Banking Regulation
Open banking regulation is the legal and supervisory framework requiring or enabling third-party access to payment accounts with customer consent.
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Payment Complaint Rights
Payment complaint rights are the procedures consumers may use to complain to a payment provider and escalate to an ombudsman or authority.
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Payment Error Resolution
Payment error resolution is the formal process to investigate and correct billing or transfer errors under applicable consumer-payment rules.
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Payment Safeguarding
Payment safeguarding is the obligation for certain payment or e-money firms to protect customer funds from the firm’s own insolvency creditors.
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Payment Services Directive 2
Payment Services Directive 2 (PSD2) is the EU directive that modernized payment-services rules, including strong customer authentication and open-banking access.
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Payment Services Directive 3
Payment Services Directive 3 (PSD3) is the EU’s proposed/successor directive limb of the PSD3/PSR payments package covering authorization, supervision, and related institution rules.
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Payment Services Regulation
The Payment Services Regulation (PSR) is the EU’s proposed directly applicable conduct-of-business regulation paired with PSD3.
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Payment Services Regulations 2017
The Payment Services Regulations 2017 are the UK statutory instrument implementing PSD2-era payment services rules in the United Kingdom.
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Regulation E
Regulation E is the US federal regulation implementing the Electronic Fund Transfer Act for many consumer electronic fund transfers.
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Regulation II
Regulation II is the US Federal Reserve rule on debit-card interchange fees and routing for covered issuers.
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Regulation Z
Regulation Z is the US Truth in Lending regulation covering many consumer credit disclosures and related credit-card practices.
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Safeguarding Account
A safeguarding account is a bank or qualifying account used to hold segregated relevant funds under payment/e-money safeguarding rules.
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Segregated Customer Funds
Segregated customer funds are relevant user funds held separately from a payment firm’s own money for safeguarding purposes.
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Unauthorized Transaction Rights
Unauthorized transaction rights are consumer protections for payments made without the user’s authorization, subject to notice and liability rules.
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