Mobile Banking: Overcoming Legal and Regulatory Challenges
Minimizing Liabilities in Wireless Financial Transactions
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, January 14, 2010
Recorded event now available
This CLE webinar will discuss the legal and regulatory frameworks applicable to mobile banking transactions, identify legal risks under current law, and provide strategies for financial institutions to minimize risk and liability in implementing mobile finance products.
Description
Financial transactions conducted through cell phones and other wireless equipment are the future of banking. Recent studies forecast 612 million mobile banking users globally by 2011 and close to 1 billion users by 2013 — a dramatic increase from the 67 million users in 2008.
While technology for mobile banking is evolving rapidly, the law is not keeping pace. Current laws governing telecommunications do not fully address unique legal issues created by mobile banking.
Wireless transmission creates heightened privacy and security concerns under FACTA, GLBA, BSA, AML and OFAC. Counsel representing financial institutions and providers of financial services must be ready to guide their clients through this newly developing arena.
Listen as our authoritative panel of attorneys discusses the current legal and regulatory frameworks applicable to mobile finance, the inherent legal risks and liabilities, and best practices for financial services providers to minimize liability in implementing mobile banking solutions.
Outline
- Overview of mobile financial services
- Mobile banking, payment systems and commerce
- Trends and factors driving the growth of mobile finance
- Mobile banking platforms
- Legal challenges and risks
- Financial institutions
- Liability
- Security
- Customer authentication
- Clearing and settling
- Telecommunications
- Limited liability
- Financial institutions
- Best practices and industry standards
- Absence of uniform standards
- CTIA “Best Practices and Guidelines for Mobile Financial Services” (2009)
- Role of the various federal regulators
- Federal and state regulatory agency guidance on electronic banking (FFIEC)
Benefits
The panel will review these and other key questions:
- What key factors are driving the growth of mobile financial services?
- What legal challenges and risks exist in implementing mobile banking systems?
- What can financial services providers do now to minimize the legal risks and challenges?
- What are the gaps in existing legal and regulatory frameworks as applied to mobile banking transactions?
Faculty
Frederick M. Joyce,
Partner
Venable, Washington, D.C.
He focuses on telecommunications law and his experience with wireless operations goes back to the first cellular networks in the US and first deployment of overseas wireless networks. He represents clients in matters involving domestic and international regulations and treaties, public and private financial transactions and litigation pertaining to telecommunications and state/federal legislation.
Peter E. Heyward,
Partner
Venable, Washington, D.C.
His practice focuses on U.S. and international financial regulation and he has more than 20 years' experience in representing financial institutions. He advises clients on a broad range of matters that are subject to regulation by federal or state agencies.
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*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI*, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*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.
MP3 Download (Audio Only) $49.00
Available 24 hours after the live event
Webinar Download (Slide Presentation with Audio) $49.00
Available three business days after the live event
CD (Audio Only) $49.00
plus $9.45 S&H
Available ten business days after the live event
DVD (Slide Presentation with Audio) $49.00
plus $9.45 S&H
Available ten business days after the live event
Webinar/Teleconference
Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program). Please note that our webinars do not feature videos of the presenters.
CLE Credit
Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.
Customer Reviews
The back-and-forth between the panelists made the program easy to listen to. The slides were very well done.
Chris Kelly
Mayer Brown
The program provided good legal references, good bullet points and good scope.
Tim Thomas
Kolesar & Leatham
The question and answer session was one of the best I've attended.
Tricia Le Meur
Phillips Parker Orberson & Arnett
A focused presentation offering practical information in a concise format.
Una Kang
Saiber
Content was superb.
Patrick Webb
Webb & Carey
Finance Law Advisory Board
Partner
DLA Piper
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers