A vendor called regarding a new (not federal) disclosure. Apparently there was a lawsuit over funds not paid, but the customer went directly through a network (star, cirrus, plus) rather than visa or master card. If it were MC or Visa, it would be covered by their disclosures.

Apparently the disclosure will keep the bank out of trouble if a network rather than a Visa/MC is used either in a POS or network payment.

Has anyone heard of the disclosure? Since it was not a federal reg, it would not be covered in our normal updates.

Thanks

Thanks for interpreting. Yes, that is it. Do you know what the disclosure states?

Thanks

Does anyone have sample language that they used? I am concerned mine was not correct...