CARD Act: Navigating the Complex New Rules for Credit Card Lending
Meeting Regulatory Demands for Disclosure, Notice, Billing and Interest Rates
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Tuesday, October 13, 2009
Recorded event now available
This seminar will review the full spectrum of changes for credit card issuers under the newly passed CARD Act, which escalates and increases the new Federal Reserve regulations on credit card practices. The panel will outline best practices to comply for financial institutions and their counsel.
Description
The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) requires profound changes for the credit card industry. The Act restricts interest rate increases, application of payments, and other common practices like universal default and double-cycle billing.
The CARD Act provisions are broader and stronger than regulations adopted by the Federal Reserve last year. Further, while the Federal Reserve's regulations didn't go into effect until summer 2010, some of the major CARD provisions are effective as soon as February 2010.
Practitioners representing banks and other credit card issuers must have a thorough understanding of these sweeping changes to the credit card industry practices as they guide clients in the rebuilding of their existing credit card models.
Listen as our panel of attorneys discusses this dramatic overhaul of the credit card industry and best practices to comply with these changes now.
Outline
- Overview of CARD provisions
- Financial institutions affected
- Prohibited practices
- Interplay between CARD Act and Federal Reserve regulations
- Best practices for compliance
Benefits
The panel will review these and other key questions:
- What is the immediate impact of the CARD Act for banks and other credit card issuers?
- How are the CARD Act and the Federal Reserve regulations changing permissible practices in credit card lending?
- How do the CARD Act provisions alter—or work with—the Federal Reserve’s credit card regulations?
Faculty
Beth S. DeSimone,
Counsel
Arnold & Porter, Washington, D.C.
She structures and negotiates mergers and acquisitions and investments of financial services companies. She specializes in establishing new financial institutions and nonbank subsidiaries. She assists in structuring and resolving issues with new card products, including international remittance cards, payroll cards, government benefit cards, health savings account cards, and gift cards.
Michael B. Mierzewski,
Partner
Arnold & Porter, Washington, D.C.
He concentrates his practice on financial institutions and corporate and securities law. In addition to bank merger and acquisition counseling, he routinely counsels clients on fair lending, Community Reinvestment Act, payment systems, enforcement, and general regulatory issues. He has conducted scores of sensitive internal investigations for a wide variety of financial services companies.
Ahmad Hajj,
Attorney
Arnold & Porter, Washington, D.C.
He represents financial institutions, broker-dealers and hedge funds on a variety of matters including banking and securities regulatory issues and mergers and acquisitions. His practice includes representing clients in investments in securities, commodities, futures contracts, and other derivatives. He also represents financial institutions in litigation involving various federal regulatory issues.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
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(*Indicates that Strafford must report attendance.)
Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
Webinar Download (Audio + Slide Presentation) $49.00
Available three business days after the live event
Webinar on DVD (Audio + Slide Presentation) $49.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio Only) $49.00
Available 24 hours after the live event
Teleconference on CD (Audio Only) $49.00
plus $9.45 S&H
Available ten business days after the live event
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Customer Reviews
I liked the combination of the substantive material and the legal perspective.
Jane Shea
Frost Brown Todd LLC
I liked the speaker's overall information on the industry and how compelling the presentation was. The program was very thought provoking, and covered more than what we expected.
Judy Chen
Chapman and Cutler LLP
I liked the detailed statistics and case discussions provided by the speakers.
Kathryn C. Ellsworth
Grais & Ellsworth LLP
The topic covered was very timely, the program was well structured and I appreciated that the speakers addressed very recent issues.
Benjamin Brutlag
CSM
The program was well organized and discussed the major issues.
Roxy Hammett
Wolff & Samson PC
Finance Law Advisory Board
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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