Bank Adoption of Zelle, Venmo and Other P2P Payment Apps: Regulatory and Operational Issues, Risk Mitigation
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine bank regulatory and operational concerns with peer-to-peer (P2P) payment services. The panel will discuss the legal and compliance challenges in adopting Zelle, recent enforcement actions against Venmo and other non-bank money transmitters, and fraud risks associated with both banking and non-banking P2P payments.
- P2P payment applications--how they work within the banking industry
- Venmo, Square, others
- Regulatory framework
- Zelle and other bank-provided services
- Non-bank money transmitters
- Operational concerns in adopting Zelle
- Challenges in transacting with Venmo and other non-bank payment services
The panel will review these and other essential questions:
- How have P2P payment applications impacted the banking business?
- What are the risks to banks and customers in processing payments through services such as Zelle, and how do they compare to risks associated with Venmo?
- What is the regulatory framework surrounding non-bank money transmitters? What kinds of enforcement actions have resulted?
- What are the chief regulatory issues associated with adoption of Zelle?
Mr. Devand is global head of Application Development for Digital Finance Technology. He oversees the development and... | Read More
Mr. Devand is global head of Application Development for Digital Finance Technology. He oversees the development and execution of the firm's loan and deposits platforms while helping to expand the Consumer & Commercial Banking Division’s business strategy. Mr. Devand is a member of the Digital Finance Operating Council. He joined Goldman Sachs as a managing director in 2017. Prior to joining the firm, Mr. Mr. Devand was co-founder, president and chief technology officer of AHAlife, an online marketplace for luxury products that began publicly trading in 2015.Close
Stephanie R. Hager
Stevens & Lee
Ms. Hager represents financial institutions and other public companies in a wide range of corporate matters, including... | Read More
Ms. Hager represents financial institutions and other public companies in a wide range of corporate matters, including capital formation, mergers and acquisitions, corporate governance, reporting requirements under the Securities Exchange Act of 1934, and financial institution regulatory matters.Close
Frank A. Mayer, III
Chair, Financial Services Regulatory and Enforcement Group
Stevens & Lee
Mr. Mayer advises and defends regulated business enterprises with a special emphasis on financial service... | Read More
Mr. Mayer advises and defends regulated business enterprises with a special emphasis on financial service organizations, foreign banking organizations, U.S. insured depository institutions, non bank credit providers and mortgage loan product platforms, payment systems and related participants, directors, special board committees and officers in connection with supervisory and enforcement matters as well as mergers and acquisitions.Close