Virtual Breakfast “Meet-Ups” with Industry Peers

Interested in meeting other attendees before the conference begins? Join in on coordinated, zoom-style breakfast meet-ups and catch up with fellow attendees prior to the event.

Co-Chairs’ Welcome Remarks

Kimberly Schmid
Senior Counsel, Global Regulatory Affairs
Visa

Anthony M. Sharett
EVP, Chief Legal and Compliance Officer
MetaBank

A View from the Top on the State of Payments: How the Current Payments Landscape is Impacting Prepaid Programs and Traditional Banking Relationships

Thomas G. Pareigat
General Counsel
The Bancorp, Inc.

Nicole Ibbotson
General Counsel
InComm Financial Services, Inc.

Anthony M. Sharett
EVP, Chief Legal and Compliance Officer
MetaBank

Andrew Toftey
General Counsel and Secretary
Sunrise Banks

Tune in as a panel of GCs and CLOs from some of the industry’s leading prepaid card companies share critical insights on the current state of the payments industry, how the latest changes in banking activity are impacting prepaid products and how prepaid card issuers and their counsel can best set their priorities for 2021 and beyond.

• Examining the impact of Covid-19 on the payments industry, consumer behavior and the prepaid space
• Assessing how the rise of challenger banks/neobanks are influencing the prepaid industry
• Addressing the latest developments and compliance considerations surrounding the intersection of fintech and prepaid
• Taking a look at recent activity surrounding crypto-backed prepaid cards
• Examining the latest fintech charters and their impact on the businesses of prepaid companies and banks

Breakout Think Tanks and Q+A with “View from the Top” Panelists

Following our opening panel, take advantage of an exclusive opportunity to join a smaller, interactive group segment where attendees can meet the speakers face-to-face and engage in a “boardroom style” think tank and Q+A on one of our morning topics.

Morning Break

Insights on the Latest Federal Regulatory Agency Initiatives Affecting the Prepaid Industry

Tina Woo
Senior Managing Counsel, Regulatory Affairs
Mastercard

Kimberly Schmid
Senior Counsel, Global Regulatory Affairs
Visa

Joel Feinberg
Partner
Sidley Austin LLP

• Assessing the latest federal agency priorities and initiatives affecting the prepaid space (CFPB, FTC, SEC, OCC, FinCEN)
• The latest guidance from the CFPB that is impacting prepaid
• What does the industry need to know about the OCC’s new Payments Charter and how it is expected to impact the regulation of payments companies as banks?
• Addressing the potential impact that the FDIC’s proposed rulemaking on broker deposits could have on the prepaid space
• The latest updates on how the various agencies are tackling innovation
• An update on regulatory sandboxes, how they are working and where they are heading
• What are the regulators looking at in connection to the rise of neobanks
• Recent FTC enforcement and initiatives under the FTC Act and EFTA – how do these affect prepaid programs?
• Preparing for examinations and investigations by the different regulatory agencies

Speaker “Meet & Greets” and Q+A with “Federal Regulatory Initiatives” Panelists

Come camera ready and engage in a unique, virtual Q+A with the speakers from our “Federal Regulatory Initiatives” panel. Take advantage of the opportunity to meet and learn from our speakers by asking targeted questions, receiving real time answers and benefitting from an interactive discussion of key takeaways.

Lunch Break

Politics, Policy and Prepaid: Examining the Impact of the Recent Election on the Prepaid Space

Brian C. Tate
President & CEO
Innovative Payments Association

James Kim
Partner
Ballard Spahr LLP

• What impact will the presidential administration of 2021 have on the prepaid space?
• What initiatives and regulations will be subject to change and evolve vs. remain and expand given the election results?
• Assessing the implications of the recent election on:
• The Durbin Amendment
• The CFPB Prepaid Rule
• Innovation and Regulatory Sandboxes

Avoiding Compliance Pitfalls When Diversifying a Traditional Prepaid Program: How Program Managers Can Branch Out and Expand a Product While Mitigating Compliance Risks

Claire Sammon Roberts
VP Risk & Compliance
Marqeta

Linda C. Odom
Partner
K&L Gates LLP

Duncan Douglass
Partner
Alston & Bird LLP

In today’s rapidly evolving and competitive payments industry, program managers of traditional prepaid cards are often contemplating how to take their product to the next level and make it more diverse and attractive to consumers. This panel will address the various compliance considerations that program managers must keep top of mind when expanding and diversifying their traditional program to:

• Add new types of loads (including cryptocurrency loads)
• Add remittance features
• Add mobile payment, mobile app-based digital account or virtual wallet features

Interactive Case Scenarios and Audience Polling

Implementing Effective AML/BSA Compliance and Fraud Deterrence Programs

Jason Honeycutt
Chief Compliance Officer
Netspend

Chad Brown, CRCM, CAMS
Senior Vice President
Compliance & Risk Manager
Stride Bank

Due to ongoing supervisory and enforcement actions and increased monetary penalties, prepaid card companies are facing increased pressure to address AML/BSA and fraud risks head on. This panel will walk through a series of complex, hypothetical scenarios which demonstrate the unique risks that prepaid companies face when establishing AML/BSA compliance and fraud deterrence programs. Test your AML/BSA skills through anonymous polling questions during the hypothetical series and benefit from a practical discussion of the polling results and important takeaways for your practice.

1:1 PEER-TO-PEER NETWORKING

Networking Break

1:1 PEER-TO-PEER NETWORKING: Make new connections, face-to-face. Troubleshoot top pain points, share breakthrough strategies or simply engage in a peer-to-peer meet and greet by using an interactive virtual feature that will introduce you to fellow industry peers for a quick conversation.

Avoiding the Top Ten Pitfalls in Third-Party Relationships: Maintaining Strong Oversight and Compliance Without Sacrificing Efficiency

Heidi Wicker
Partner
Schwartz & Ballen LLP

Siobhan Moore
Partner
Locke Lord LLP

• Strategies for exercising sufficient oversight over third-party servicers without sacrificing efficiency and increasing costs
• Examining best practices for managing third-party service providers
• Devising well-constructed, enforceable contracts with third-party program managers
• Setting forth the allocation of risk between a processor, program manager and bank issuer
• Identifying hot-button provisions that should always be included
• Ensuring that less sophisticated program managers have an understanding of the regulatory framework at play, and the tools needed to build the necessary internal compliance controls
• Conducting an annual review of your third-party servicer

Navigating the Legal and Compliance Challenges of Advance Wage Payment Products

Jeanette Quick
Legal Counsel, Financial Services
Gusto

Eric Goldberg
Partner
Akerman LLP

“Wages-on-demand” or “advance wage payment” products enable employees to get paid immediately for the hours they have worked, even if their scheduled payday is days or weeks away. While these new payroll advance products are becoming increasingly popular, they are raising a number of questions surrounding how these services work, whether these payments are considered loans or wages, whether they are legally allowable and what requirements are placed on these services under state laws. This panel will address these myriad questions, and provide additional insights on topics including:

• What state bills have been passed enabling the payroll advance industry, and what state bills and enforcement actions have been pushing back against it?
• What should companies offering advance wage payments on payroll cards be considering so as not to run afoul of governing regulations?
• For companies that are considering offering wage advance benefits to their employees, how should they be structuring their product so as not to violate state lending, licensing, wage and payroll card laws?

Conference Adjourns

Co-Chairs’ Welcome Back and Recap of Day 1

Examining the Implications of PayPal’s Lawsuit Against the CFPB: What Do the CFPB’s Final Prepaid Rules Mean for New and Future Products?

Barry Hester
Counsel
Bryan Cave Leighton Paisner LLP

J.H. Jennifer Lee
Partner
Arent Fox LLP

• Examining the full scope of compliance risks involved with linking prepaid cards to digital wallets
• Analyzing the implications of the latest CFPB prepaid account rules on digital wallets, checkless checking and other potential future digital banking products
• What are the potential far reaching implications of the PayPal lawsuit against the CFPB, and how could it change the face of prepaid in the future?
• The future of prepaid vs. e-wallets: what is best for business, what is best for consumers and what is best for payments innovation?

Special Focus on State Enforcement Efforts and Examinations in the Prepaid Space

Allyson Baker
Partner
Venable LLP

Jonathan B. Engel
Partner
Co-Leader, Enforcement and Investigations Practice
Davis Wright Tremaine LLP

Tune in while key state regulators and industry experts provide a deep dive into what they are focusing their attention on in recent investigations in the prepaid space, what trends they are observing as far as enforcement actions by their agencies, and how to best prepare for examinations and ensure compliance.

1:1 Networking Opportunities

Morning Networking Break

1:1 Networking Opportunities: Take advantage of this extended networking break and see how many people you meet. Your next legal team, business partner, or client could be right in our virtual networking room – it is up to you to find them! To maximize your connections, benefit from virtual business card exchange opportunities.

Prepaid Accounts vs. DDAs: Weighing the Business and Compliance Issues When Deciding Which Product to Offer

Brad Fauss
SVP and General Counsel
Greenlight Financial Technology

Chris Daniel
Partner
Paul Hastings LLP

David Whitaker
Partner
DLA Piper LLP (US)

• Addressing considerations for program managers when deciding whether to issue a GPR card vs. a Demand Deposit Account
• Weighing the compliance burdens associated with GPR cards vs. checking accounts now that the new prepaid rules are in effect
• Understanding the “plumbing” behind the prepaid model vs. a DDA model
• What are the business and compliance considerations at play?
• How are the impacts of regulations evolving as the products are evolving?
• Under what circumstances/use cases would a fintech entering the market want to specifically offer a prepaid card vs. a DDA product?

Conference Ends