Prepaid and Stored Value Cards: Navigating the CARD Act and New FinCEN Regulations
Final rules are effective Feb. 22: Are you ready?
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course 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.
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
He focuses his practice on financial institutions and other companies participating in the nation’s banking and... | Read More
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.
CloseMarilyn D. Barker
Counsel
Bryan Cave
She focuses her practice on counseling financial services institutions on federal and state Bank Secrecy Act regulatory... | Read More
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).
CloseGizelle Barany
Senior Corporate Counsel
Blackhawk Network
Her practice area includes financial services matters, with a focus on network branded prepaid products and related... | Read More
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.
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