FinTech & Emerging Payment Systems

Registration and Continental Breakfast

Co-Chairs’ Opening Remarks

Sulejman Dizdarevic
Director & Senior Counsel, Fintech & Payments
Discover Financial Services

Andrew J. Lorentz
Partner
Davis Wright Tremaine LLP

Navigating the Rapidly Evolving Fintech, AI, DeFi Landscape: How the Most Impactful Innovations Will Drive the Industry Forward

Ed Koellner
Senior Counsel, Payments and Fintech
USAA

Moderator:

Charles Humphreville
Counsel
Ropes & Gray LLP

• What are the key innovations in the fintech space —and what are their legal implications going forward?
• AI-driven sentiment analysis:
• The next frontier of fintech innovation?
• What are the ethical and regulatory compliance dangers surrounding this increasingly prevalent technology?
• How Distributed Finance (DeFi) could trigger the Bank Secrecy Act (BSA), Anti-Money Laundering Act (AML) and Commodities Exchange Act
• Distributed autonomous organizations: What can be learned from Wyoming’s state Bill 38
• Blockchain: Sales, securities, BSA/AML, OFAC, taxation, licensing, and cross-border regulatory trends

Fintech Regulations in the Crosshairs: Looming Requirements and How to Prepare for the Knowns, and Unknowns, of Compliance

Jesse Silverman
Chief Legal Officer
Nuula

Melissa Baal Guidorizzi
Former Senior Counsel for Policy and Strategy, Office of Enforcement, CFPB; Counsel
O’Melveny & Meyer

Thomas G. Ward
Former Enforcement Director, Office of Enforcement, CFPB; Partner
Sidley Austin LLP

Laurel Loomis Rimon
Partner
Paul Hastings, LLP

Gary Stein
Chief Product & Compliance Officer
Opy USA

• How soon will the CFPB adopt a rule for consumer data security access and privacy?
• CFPB clamps down on big tech’s payment system plans
• CFPB orders for information about the business models of big BNPL players: Is this order a harbinger of more permanent BNPL scrutiny?
• CFPB’s seeking public input on junk fees
• The Bureau’s “Compliance Aid”: Will provisions of Reg E in the Compliance Aid be applied to prepaid accounts and digital wallets?
• CBDCs: How should central banks, particularly the Federal Reserve, issue and monitor these digital currencies?

Extended Networking Break

Planting the Seeds for the Next Phase of Fintech Firms

Silvio Piserchia
Global Segment Lead, Fintech and Digital
Mastercard

From disruptive threat to enabling partner, fintech firms are entering a new phase. Investor scrutiny, continued consolidation, and global expansion are setting in and firms need to move beyond the sizzle—and towards sustainability in an increasingly competitive marketplace. This session will delve into what it will take for the modern fintech to deliver.

Where Investors Are Placing Their Bets: The Latest on Fintech Valuation, Investment Decision-Making and Risk Mitigation

Moderator:

Martin Ruhaak
Partner
Ropes & Gray LLP

• Will the number of fintech startups continue to exceed even 2021 expectations?
• Fintech IPOs and SPACs that are making waves in 2022
• The relentless rise of BNPL. Should investors focus on the payments sector, rather than lending firms?
• Big tech M&A outlook: What will become of the FTC and DOJ’s plans to rewrite merger guidelines?
• Non-fungible tokens (NFTs): Growth opportunities
• What does the extraordinary influx of new market entrants do to the trajectory of fintech investment as a whole?
• Are there any signs that fintech is in an investment bubble about to pop?

Networking Lunch

SPECIAL ADDRESS

Global Sanctions and their Impact on the Payments Sector

Anna Novoseletsky
Vice President and Associate General Counsel
Discover Financial Services

CASE STUDIES

The Most Promising Partnerships Between Fintech and Banking: Courting the Right Collaborator and Avoiding Regulatory Compliance Pitfalls

Efrat Yellin
Chief Financial Officer
Opy USA

Gary Stein
Chief Product & Compliance Officer
Opy USA

Rusty Pickering
President and Chief Operating Officer
Ingo Money Inc.

Dondrey Taylor
Chief Technology Officer
Capway, Inc.

Gregory Caminneci
Marketplace Lending and Strategic Partnerships
Cross River Bank

During this highly anticipated session, hear from industry stakeholders on what the most promising partnership models are that can take the bank/ fintech combination to the next level. Through a series of short case studies, the expert speakers will take you through the real-world considerations that are shaping the future of partnerships and associated regulatory risk management.

Break

Bank Chartering Choices: Navigating the Pros and Cons of Fintech/Bank M&A and Agencies

Rob Lavet
General Counsel
SoFi

Kayce M. Seifert
Regulatory Counsel (Square)
Block, Inc.

Don Mosher
Partner
Schulte Roth & Zabel LLP

The trend of fintech companies seeking or acquiring U.S. banking licenses continues to build momentum, furthering the convergence of fintech and banking. Eliminating the need for partner banks means fintech companies can directly access lower-cost deposit funding and become their customers’ true provider of more financial services than ever.

Topics will include:

• Comparing the advantages and disadvantages of the two types of available charters
• Pros and cons of OCC limited charters: Single regulatory framework, but no insured deposits
• An alternative: Exploring the potential viability of an FDIC ILC, which brings the insured deposit advantage

CASE STUDY

A Closer Look at Varo Bank’s OCC Charter Journey

Marina Gracias
General Counsel
Varo Bank

Varo is the first challenger bank to obtain a national bank charter from the Office of the Comptroller of the Currency (OCC). What was the approval process like? How has the charter expanded Varo Bank’s services? Learn how this charter has marked an evolution in banking and a new generation of banks, born from innovation.

Close of Day One

Registration and Continental Breakfast

Co-Chairs’ Opening Remarks

Sulejman Dizdarevic
Director & Senior Counsel, Fintech & Payments
Discover Financial Services

Andrew J. Lorentz
Partner
Davis Wright Tremaine LLP

General Counsel Perspectives: Big Picture Looks on Legal and Regulatory Risks at the Fintech Forefront

Kate Karas
General Counsel
Chime

Adam VanWagner
General Counsel
MoneyLion

Hear two different General Counsel points of view on developing legal frameworks that can evolve to match a bevy of emerging legal risks amid extraordinary market advancement.

The Present and Future of Cryptocurrency Regulation: How Fintech is Navigating an Uncertain Landscape of Risk

Eric Goldberg
Partner, Consumer Financial Services
Akerman LLP

Philip Keitel
Associate General Counsel & Vice President
The Clearing House

Chris Daniel
Partner
Paul Hastings, LLP

The year 2021 was a transformative year for finance, and 2022 is shaping up to bring more change. Which digital assets will be considered securities? Which regulatory body will oversee cryptocurrency? What will drive, or hold back, the emergence of cryptocurrency in the world of fintech?

During this session, experts will address key topics, including:

• The SEC’s initiatives to protect investors, including the potential monitoring of crypto exchanges and Bitcoin exchange traded funds (ETFs) that would be subject to strict mutual fund rules
• Anticipating the AMLA’s impact on the digital money industry and companies’ plans to launch their own crypto currency
• The Federal Reserve, FDIC, and OCC scramble to get up to speed. What have their “policy sprints” revealed and what guidance is being given?
• Can regulation boost stablecoin innovation?

Networking Break

AML/KYC: Real-World Examples of the Latest Program Upgrades and Back Office Best Practices

Aleem Jackson
Senior Vice President, BSA/AML Head
Axiom Bank

Barrie VanBrackle
Partner
Latham & Watkins LLP

The same “frictionless” signup and ease-of-use features that make digital banks appealing to customers have given crooks an opening to wreak havoc through various schemes. FIs are continuing to adjust their AML and KYC efforts, but compliance fines are mounting as they struggle to manage regulatory requirements. Learn about how the industry is adjusting to fintech fraud mitigation measures and compliance.

• Taking KYC virtual and widening the scope of approvals
• Safer mobile banking for customers using ID, phone camera and facial recognition software
• FinCEN aims to get non-banks/neobanks onboard with prioritizing anti-fraud and AML efforts: FinCEN’s BSA and AML/CFT National Priorities
• FinCEN’s New Corporate Transparency Act: Beneficial Ownership Reporting Requirements
• How AI has simplified the process of reviewing criminal registries and denying fraudulent user access
• How watchlist screening can minimize the cost of compliance

How BNPL and EWA Operations are Unfolding Amid Anticipated New Compliance Requirements

Smitha Mortis
General Counsel
Branch

Rob Kashtan
Senior Vice President & General Counsel
Bread Financial

Buy Now, Pay Later (BNPL) and Earned Wage Access (EWA) financial services are making headlines as a great option for consumers looking to acquire more flexibility over their spending. During this session, learn how tech-savvy fintechs and banks are optimizing BNPL/EWA operations and how regulators are introducing new compliance requirements.

Close of Conference