Day 1 - Monday, January 30, 2017

7:30
Registration & Continental Breakfast
8:00
Co-Chairs’ Welcoming Remarks
8:05
CFPB Final Rule on Prepaid Accounts: What is the Impact on Compliance, Required Disclosures, and What to Expect Going Forward in the Market
9:25
Impact of the Rule’s Reach Beyond What’s Traditionally Been Thought of as Prepaid Accounts: Prepaid Cards with Credit Features and Structuring Prepaid Cards as DDA
10:20
Morning Break
10:30
Federal Regulatory and Enforcement Initiatives Impacting Prepaid Industry: The Latest Developments and How to Develop a Framework Given Emerging and Newer Technology
11:55
Networking Luncheon
12:55
State Regulatory and Enforcement Efforts Including Latest Challenges Associated with Money Transmitter Licensing Enforcement
2:20
Unclaimed Property Issues: States with Varying Requirements Related to Escheat Laws
3:15
Break
3:25
CFPB Developments Other than The Final Rule on Prepaid Card Accounts Including Arbitration, Small Dollar Lending, and Enforcement Actions
4:30
Compliance Programs with a Focus on Risk Assessment
5:20
Managing the Third-Party Servicers, Ensuring that Program Managers and Other Third-Parties Have Proper Compliance Management Systems in Place, and Helping Less Sophisticated Program Managers Develop Robust Compliance Management Systems
6:30
Conference Adjourns to Day Two

Day 2 - Tuesday, January 31, 2017

7:30
Continental Breakfast
8:00
AML/BSA Developments: CIP Requirements, FinCEN’s CDD Rule, and More
9:00
Compliance Challenges Surrounding Cryptocurrency, Bitcoin, and Blockchain on the Prepaid Industry
10:15
Break
10:25
International Perspective in the Prepaid Context: Product Innovation, Challenges Associated with Regulating Innovative Products, and Updates on The Fourth Anti- Money Laundering Directive and The Second EU Payment Services Directive
11:15
Negotiating and Structuring Contracts with Program Managers
12:30
Conference Ends; Lunch for Post-Conference Workshop B Attendees and Speakers

Analyzing Key Technologies Used for Payment Processes, Platforms, and Systems in the Cross-Border Global Payments Context

Jan 31, 2017 1:30pm - 3:30pm

Speakers

Elena Sabkova, Esq.
Interim CEO, General Counsel & Chief Compliance Officer
Skrill USA, Inc.

David L. Beam
Partner
Mayer Brown LLP

Day 1 - Monday, January 30, 2017

7:30
Registration & Continental Breakfast

Sponsored By:

p_lindquist__vennum_3281

8:00
Co-Chairs’ Welcoming Remarks

John Hagy
Chief Legal Officer
Meta Payment Systems

Chris Daniel
Partner, Corporate Department
Paul Hastings LLP

8:05
CFPB Final Rule on Prepaid Accounts: What is the Impact on Compliance, Required Disclosures, and What to Expect Going Forward in the Market

Brad Fauss
President and CEO
Network Branded Prepaid Card Association

Emily H. Goodman Binick
VP & Senior Counsel
American Express Company

James Kim
Of Counsel
Ballard Spahr LLP

Obrea O. Poindexter
Partner
Morrison & Foerster LLP

Duncan B. Douglass
Partner
Alston & Bird LLP

Kristine M. Andreassen
Senior Counsel | Office of Regulations
Consumer Financial Protection Bureau

  • What changed from the proposal to the final?
  • What were the surprises?
  • What are the real industry pain points from compliance and business stand point?
  • What are the required disclosures that have to be changed?
  • Display/production of all terms and conditions on a website — who is required to put that up, issuer, third-parties, or everyone?
  • Will this change the products that are being offered? From the market stand point, do products remain viable?
  • How are prepaid card accounts different and similar to DBA? Are there too many similarities?
  • What are the difference laws applied for each account?
  • What are the different applications and functionality for each?

9:25
Impact of the Rule’s Reach Beyond What’s Traditionally Been Thought of as Prepaid Accounts: Prepaid Cards with Credit Features and Structuring Prepaid Cards as DDA

John Hagy
Chief Legal Officer
Meta Payment Systems

Chris Daniel
Partner, Corporate Department
Paul Hastings LLP

Karen L. Garrett
Partner
Stinson Leonard Street LLP

  • The rule defines as prepaid accounts products that aren’t necessarily thought of as belonging in that category — what are some of those products?
  • How and why prepaid cards should be structured and offered as DDA
  • What are the implications for providers who currently offer overdraft?; What’s the difference between overdraft that providers have been offering and credit they are required to offer?
  • What do issuers that currently offer credit need to do to get into compliance?
  • What do providers who are thinking about offering credit need to do?
  • Will companies be abandoning prepaid cards with credit features?

10:20
Morning Break
10:30
Federal Regulatory and Enforcement Initiatives Impacting Prepaid Industry: The Latest Developments and How to Develop a Framework Given Emerging and Newer Technology

Natalie H. Diana
Senior Counsel
Bureau of the Fiscal Service
U.S. Department of the Treasury

James Vivenzio
Senior Counsel for BSA/AML
Office of the Comptroller of the Currency (OCC)

Carole L. Reynolds
Senior Attorney, Division of Financial Practices
Federal Trade Commission

Brian Crist
Chief Payments Counsel
Uber Technologies, Inc.

Andrew J. Lorentz
Partner
Davis Wright Tremaine LLP

Corey Phelps
Sanctions Compliance Officer
U.S. Department of the Treasury

Jeremy Kuester
Deputy Associate Director
U.S. Department of the Treasury, FinCEN

Moderator:

Barrie VanBrackle
Partner
Orrick

Ryan J. Straus
Counsel
Fenwick & West LLP

  • Recent federal regulatory and enforcement activities
  • What are regulators focusing on currently?
  • The latest legislative developments in Washington
  • Best practices for working with regulators to determine how best to meet compliance obligations
  • A practical, how-to guide for preparing for examinations by different regulatory agencies: CFPB, FinCEN, FDIC, etc.
  • Regulatory focus on bank oversight of program managers
  • Best practices for supervisory oversight of prepaid programs
  • Given that innovation will continue due to consumer demand, what kind of regulatory framework makes sense especially with newer technology?

11:55
Networking Luncheon
12:55
State Regulatory and Enforcement Efforts Including Latest Challenges Associated with Money Transmitter Licensing Enforcement

Donald J. Mosher
Partner
Schulte Roth & Zabel LLP

Tom James
Senior Assistant Attorney General
Consumer Counsel – Consumer Fraud Bureau Illinois

Keith J. Barnett, Esq.
Partner
Troutman Sanders LLP

Joseph Borg
Director
Alabama Securities Commission

Maryam Torben Desfosses
Hearings Examiner
New Hampshire Banking Department

Kim Ford
Vice President of Global Government & Public Affairs
First Data

  • What is required in order to sell or issue prepaid products?
  • What types of business are covered?; Scope of coverage
  • Regulators’ expectations for licensees
  • Developing the strategy and laying out the roadmap that payment processors should be exempted from money licensing in different jurisdictions
  • What kind of exemptions are states looking for?
  • What are the latest challenges associated with state money transmitter licensing enforcement?
  • Money transmitter laws and their impact on product distribution considerations
  • Issues surrounding authorized delegates

2:20
Unclaimed Property Issues: States with Varying Requirements Related to Escheat Laws

Michael F. Day
Principal Legal Counsel, Regulatory Affairs
Blackhawk Network, Inc.

Ted Kitada
Senior Vice President & Senior Company Counsel
Wells Fargo Bank, N.A.

Deborah S. Thoren-Peden
Partner
Pillsbury Winthrop Shaw Pittman LLP

  • What are the jurisdictional differences with states regarding escheat laws?
  • Reporting requirements
  • Audits

3:15
Break
3:25
CFPB Developments Other than The Final Rule on Prepaid Card Accounts Including Arbitration, Small Dollar Lending, and Enforcement Actions

Genessa Stout
Director of Litigation
PayPal

Stephen Middlebrook
General Counsel
Unirush, LLC

David L. Beam
Partner
Mayer Brown LLP

Ronald K. Vaske
Partner
Lindquist & Vennum LLP

  • Assessing recent CFPB enforcement trends, activities, and priorities and what they mean for the prepaid industry
  • How does CFPB enforcement work?
  • How does CFPB work with other regulatory bodies and enforcement agencies?
  • CFPB consumer complaint database
  • CFPB rule on arbitration and its effect on providers of service
    • Arbitration provisions that limit class action litigation
    • Impact on small issuers who are faced with litigation expenses
    • Class action litigation providing relief to broader group of consumers making financial institutions more accountable for their conduct
  • CFPB’s rule on small dollar lending
  • CFPB’s Actions against payment processors and payment companies

4:30
Compliance Programs with a Focus on Risk Assessment

Jacqueline Shinfield
Partner
Blake, Cassels & Graydon LLP

Joseph S. Rubin
Senior Counsel
Arnall Golden Gregory, LLP

  • What does risk assessment really mean in the compliance and AML perspective?
  • Understanding the risks associated with prepaid cards to your businesses; identifying the biggest risk; mitigating risk
    • Understanding your controls
    • Formal structure and methodology for risk assessment when dealing with new program, products, customers, location, or new channels
  • Improving your compliance program

5:20
Managing the Third-Party Servicers, Ensuring that Program Managers and Other Third-Parties Have Proper Compliance Management Systems in Place, and Helping Less Sophisticated Program Managers Develop Robust Compliance Management Systems

Dawn Steele
Vice President, Global Anti-Money Laundering and Trade Sanctions Officer
Global Compliance

ADP

Claire Sammon Roberts
VP Risk & Compliance
Marqeta, Inc.

Rusty Pickering
General Counsel, Chief Compliance and Corporate Development Officer
Ingo

Joel Sherwin
President, US Operations
Neopay

Allyson B. Baker, Esq.
Partner
Venable LLP

  • What are the best practices for managing third-party servicers?
  • What is expected of third-party servicers?
  • A bank’s responsibility of entering into well-constructed, enforceable contracts with third-party program managers
  • What about companies such as new fintech companies and other smaller companies who rely on issuing banks for compliance management systems?
  • How can issuing banks ensure that less sophisticated program managers have the tools they need to understand the regulatory environment and build internal controls?

6:30
Conference Adjourns to Day Two

Day 2 - Tuesday, January 31, 2017

7:30
Continental Breakfast
8:00
AML/BSA Developments: CIP Requirements, FinCEN’s CDD Rule, and More

Jeff Ross
SVP, BSA/AML Compliance Officer
Green Dot Corporation

Patrick Burnett
VP and Corporate Counsel
Comdata

Duncan DeVille
SVP, Global Head of Financial Crimes Compliance
Western Union

  • Interagency guidance to issuing banks on applying customer identification program requirements to holders of prepaid cards
    • Clarification of existing CIP requirements with respect to the issuance of certain prepaid cards
    • Determining whether an Account is created and identifying the Customer
    • In cases where it is not clear how to proceed, to what extent can a bank look to other rules for program managers and how may that be viewed?
  • Applying AML to bank-issued prepaid cards distributed through a licensed money transmitter agent
  • What are some red flags and signs that additional scrutiny needs to be given?
  • FinCEN’s frequently asked questions relating to the Prepaid Access Final Rule
  • Use of prepaid cards to fund terrorist activity or money laundering? How do you prevent such activities and how far does the FinCEN’s Prepaid Access Rule go?
  • FinCEN’s CDD Rule

9:00
Compliance Challenges Surrounding Cryptocurrency, Bitcoin, and Blockchain on the Prepaid Industry

Anne Shere Wallwork
Senior Counselor for Strategic Policy Office of Terrorist Financing and Financial Crimes
U.S. Department of the Treasury

Tim Rocho
Payments and FinTech Executive
Set for Life Financial

Judith E. Rinearson
Partner
K&L Gates

Peter Luce
Founder, Principal
Ouroboros LLP

  • What are the barriers to having this technology infused with prepaid cards from a compliance perspective?
  • What is the current regulatory landscape affecting virtual currency provider?
    • Which laws virtual currency providers need to worry about and what is coming down the line?
  • What are the unique issues associated with setting up a prepaid account that accesses funds in a bitcoin wallet?
    • Shift card

10:15
Break
10:25
International Perspective in the Prepaid Context: Product Innovation, Challenges Associated with Regulating Innovative Products, and Updates on The Fourth Anti- Money Laundering Directive and The Second EU Payment Services Directive

Prof. Gideon Samid, PhD, PE
Chief Technology Officer
BitMint, LLC

Elena Sabkova, Esq.
Interim CEO, General Counsel & Chief Compliance Officer
Skrill USA, Inc.

  • An overview of key regulatory developments around the world
  • International synergies or lack thereof — what can be learned from the international community?
  • Expansion of U.S. programs into Europe
  • U.K.’s more favorable money transmitter licensing
  • Recent developments and trends in Canada
  • Challenges associated with regulating innovative products; Suggested strategies for overcoming those challenges
  • Negative impact of today’s U.S. regulatory regime on innovation and its causing developers to be more active overseas where they are invited
  • Striking a proper balance between regulation and innovation so that the U.S. isn’t left behind — suggestions as to what can be done

11:15
Negotiating and Structuring Contracts with Program Managers

Gizelle Barany
General Counsel
Marqeta, Inc.

Joan M. Herman
Senior Vice President, Payments
Sunrise Banks

Trent Sorbe
President, Central Payments Division
Central Bank of Kansas City

  • Key terms to negotiate
    • Allocate responsibility
    • Regulatory compliance
    • Indemnification
    • Monitoring

12:30
Conference Ends; Lunch for Post-Conference Workshop B Attendees and Speakers

Prepaid Card Compliance 101 for Program Managers, Issuing Banks, and Other Industry Players

Jan 29, 2017 4:00pm - 6:00pm

$400

Speakers

Barrie VanBrackle
Partner
Orrick

What is it about?

(registration opens at 3:30 p.m.; separate registration required)

  • Key market players
  • The various prepaid products — what they are?; who they serve?; how they differ by functionality, customer, technology, and services?
  • Regulatory examinations for program managers — what to expect
  • Oversight of Program Managers
  • Liability for the actions of Program Managers
  • Regulatory examinations for issuing banks — what to expect
  • Board oversight
  • Chief Compliance Officer/BSA, AML, OFAC Officer
  • What goes into a Compliance Management System?
  • UDAAP issues
  • Add-on products
  • Overdraft protection
  • Anti-money laundering programs
  • Identification/monitoring of high-risk customer types, products/services, locations
  • OFAC best practices
  • Business continuity

Analyzing Key Technologies Used for Payment Processes, Platforms, and Systems in the Cross-Border Global Payments Context

Jan 31, 2017 1:30pm - 3:30pm

$400

Speakers

Elena Sabkova, Esq.
Interim CEO, General Counsel & Chief Compliance Officer
Skrill USA, Inc.

David L. Beam
Partner
Mayer Brown LLP

What is it about?

(registration opens at 1:00 p.m.; separate registration required)

 

  • Assessing the various products, platforms, and systems and how they work
  • Identifying new and emerging products, including mobile wallets that are on the market
  • The roles of the various stakeholders in the cross-border global payments space
  • Key markets and regional updates
  • Analyzing the technology used in each step of the various emerging payment processes — mobile payments and mobile wallets
  • Structuring new products and product enhancements in ways that are intuitive and easy for customers to use but that also ensure regulatory compliance and data security
  • The range of information captured by emerging payment systems and devices
  • Examining where the information is stored
  • Understanding the new and emerging data security technologies
  • New technologies applied to traditional payment systems

ElitePass Workshops Bundle

$800