Prepaid and Stored Value Cards: Navigating the CARD Act and New FinCEN Regulations
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, January 28, 2010
Recorded event now available
This CLE webinar will discuss the current regulatory frameworks applicable to prepaid and stored value cards and the impact of the Cuomo ruling on the state law regulation. The panel will outline best practices for issuers of these products to comply with new laws and regulations.
Description
2009 was the beginning of a new era for prepaid and stored value cards as the federal government increased its regulatory oversight. The CARD Act and Federal regulations are effective in February 2010, and greater scrutiny by financial regulatory agencies will continue into the foreseeable future.
The CARD Act requires FinCEN to issue regulations by Feb. 22, 2010 implementing the Bank Secrecy Act with regard to stored value and prepaid cards. The Supreme Court’s Cuomo v. The Clearing House Assoc. ruling also greatly impacts state law regulation of prepaid products.
Practitioners representing issuers of prepaid and stored value products must have a thorough understanding of these sweeping changes to the prepaid card industry practices as they guide clients in the rebuilding of their existing card models.
Listen as our authoritative panel of attorneys discusses this dramatic overhaul of the prepaid card industry and best practices to comply with these changes.
Outline
- Overview of CARD Act provisions
- Covered products
- Prohibited practices
- Federal Reserve regulations
- Overview of FinCEN stored value card rules
- Impact of Consumer Financial Protection Agency Act ("CFPAA")
- Current status of preemption
- Impact of Cuomo v.The Clearing House
Benefits
The panel will review these and other key questions:
- What is the immediate impact of the CARD Act for issuers of prepaid and stored value cards?
- What is the impact of FinCEN regulations on prepaid and stored value products?
- How does Cuomo impact state law regulation of prepaid and stored value products?
Faculty
Chris Daniel,
Partner
Paul Hastings Janofsky & Walker, Atlanta
He focuses his practice on financial institutions and other companies participating in the nation’s banking and payment systems, and he has significant experience advising clients with respect to various issues related to credit and debit cards, stored value cards, money transmission, the ACH network, and the negotiation and drafting of various payment systems agreements.
Marilyn D. Barker,
Counsel
Bryan Cave, Washington, D.C.
She focuses her practice on counseling financial services institutions on federal and state Bank Secrecy Act regulatory and compliance matters, including those involving anti-money laundering, stored value, and electronic payments issues. Prior to joining the firm, she worked at the Department of the Treasury, Financial Crimes Enforcement Network (FinCEN).
Gizelle Barany,
Senior Corporate Counsel
Blackhawk Network, Pleasanton, Calif.
Her practice area includes financial services matters, with a focus on network branded prepaid products and related federal regulations. Her practice areas also include closed loop prepaid products, antitrust and unfair competition and general commercial contracting.
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 with Slide PDFs) $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 with Slide PDFs) $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
I liked the use of current court cases.
Robert Cundiff
Northwestern Memorial Hopsital
The program provided good legal references, good bullet points and good scope.
Tim Thomas
Kolesar & Leatham
All of the speakers were very informative, and being able to ask questions was very helpful.
Larry V. Smith
Jackson Walker
The panelists covered the topic well and in depth.
Andrea Mealey
Edwards Angell Palmer & Dodge
Excellent topics, discussed very well.
McClure King
Dearborn National
Finance Law Advisory Board
Partner
DLA Piper
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers