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 seminar 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
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 with Slide PDFs) $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 with Slide PDFs) $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 three presentations created a balanced approach.
Cris Navarro
Enloe Medical Center
Good handouts and up to date references.
Andrew Davis
Lieben Whitted Houghton Slowiaczek & Cavanagh
I liked the combined depth of information and speed of presentation. Well done!
Andre Dalbec
SAANYS
All of the speakers were very informative, and being able to ask questions was very helpful.
Larry V. Smith
Jackson Walker
A thoroughly professionally structured and presented program.
Roy Gowey
City of Coeur d'Alene
Finance Law Advisory Board
Partner
Paul Hastings
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers