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 seminar 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
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in AK, AZ, CA, CT*, MO, MT, NY*, TX, VT, WA. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, LA, ME, ND, NE, NH, NM, NV, OR, UT, WI, WV, 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. (*For CT and NY, Strafford needs to process the CLE — see below to purchase this option.)
MP3 Download (Audio Only) $297.00
Available 24 hours after the live event
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
CD (Audio Only) $297.00
plus $9.45 S&H
Available ten business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
CLE Processing on Recorded Event $65.00
CLE on Live Event
Continuing Legal Education credit processing is available for an additional $65 per person per state in states where webinars and teleconferences are accredited.
You may register for CLE credit processing before or after a program (application deadlines vary by state). Exceptions: Pennsylvania attorneys must pre-register for CLE. Maine and Alabama attorneys please call 1-800-926-7926 ext. 10 for special instructions.
CLE credits are not available for DE, IN, KS, OH, and PR or for NY attorneys admitted within the last 2 years.
CLE Processing $65.00
Webinar/Teleconference
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Program Materials
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Program Materials
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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
One of the best CLEs outside my firm that I have attended in a long time. The materials and the dual perspectives were great and the comments on one another's presentations were very instructive.
Lisa Taylor Hudson
Sands Anderson Marks & Miller
The program provided good legal references, good bullet points and good scope.
Tim Thomas
Kolesar & Leatham
The teleconference contained information that was relevant, useful and up-to-date.
Mark Hegedus
Spiegel & McDiarmid
Cutting edge information from people who are in the field.
John McGowan
Donahue Tucker & Ciandella
Finance Law Advisory Board
Partner
Paul Hastings
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers