The Evolving Federal Regulatory and Enforcement Paradigm: Practical Guidance and Best Practices for Complying with New Mandates from the Key Federal Agencies Overseeing Emerging Payment Systems

July 28, 2016 11:00am

Jason M. Weinstein
Steptoe & Johnson LLP

Andrew Smith
Covington & Burling LLP

Patrice Motz
FCRM Governance, Financial Crimes Risk Management
Wells Fargo & Co.

Alaina Gimbert
Senior Vice President & Associate General Counsel
The Clearing House

Nicole Ibbotson
General Counsel
InComm Financial Services, Inc.

Kathryn R. Haun
Assistant United States Attorney, Digital Currency Coordinator
United States Department of Justice

Corey Phelps
Compliance Officer, Sanctions Compliance and Evaluation Division, Office of Foreign Assets Control
US Department of Treasury (USA)

  • CFPB’s rule on prepaid accounts
  • OCC’s statement on innovation for banks
  • Project Catalyst
  • How federal regulators view the emerging payments landscape
  • Which products and services are of the most concern to federal enforcement agencies and why
  • Overview of recent high-profile cases, as well as what penalties have been assessed against whom and why
  • FinCEN’s initiatives in the payments space
  • The FBI’s VCET
  • Consumer protection concerns
  • Efficacy of existing regulations, many of which were written without emerging payment systems in mind
  • Assessing the key issues and pitfalls at the federal level relating to money transmission
  • FTC’s crackdown on payment processors
  • What will the regulatory landscape for emerging payment systems look like in the near future and which agencies will be involved?
  • How are the agencies dealing with key departures and understaffing issues?