BEA Proposes to Amend Survey on Cross-Border Credit, Debit Transactions
The Bureau of Economic Analysis has issued a proposed rule to amend its regulations to add new entities that would be required to report information on the BE-150, Quarterly Survey of Cross-Border Credit, Debit, and Charge Card Transactions. As proposed,…
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PIN-based debit network companies would be required to report on cross-border transactions between (1) U.S. cardholders traveling abroad and foreign businesses and (2) foreign cardholders traveling in the United States and U.S. businesses. Comments on the proposed rule are due by 5 pm on December 27, 2011.