January 31, 2014 - 9:10 AM - 10:10 AM EST

"The CFPB's Standard for Abusive Practices by Third Parties" at ACI's 9th National Advanced Summit on Prepaid Card Compliance

This event has already occurred.
Washington Plaza Hotel
Washington, DC

Allyson Baker will present “The CFPB’s Standard for Abusive Practices by Third Parties” at the American Conference Institute’s 9th National Advanced Summit on Prepaid Card Compliance on January 31, 2014. 

The prepaid card industry continues to be faced with a rapidly moving legal and regulatory landscape. It is experiencing unprecedented challenges at the federal and state levels, including:

  • NACS v. Board of Governors
  • The Federal Reserve Board’s FAQ guidelines for PIN and activation at point of sale
  • Reg II’s exemption on interchange fees for prepaid cards
  • Bank exams now extending to the program manager
  • CFPB’s GPR Rules and new issues raised
  • FTC’s proposed telemarketing rules
  • Third-party oversight and third-party payment processor considerations
  • Implementing the final FinCEN prepaid access rule, and monitoring AML and fraud
  • The continued evolution of money transmitter statutes and controversial escheat laws

Panel topics will include:

  • What acts or practices by third parties does CFPB consider to be abusive?

    -  Identifying the prongs; CFPB supervision of activities under its authority; what matters are now of significant concern to the CFPB?; what constitutes fairness, transparency, and competitiveness?


  • Service provider liability

    -  Supervisory standards for banks regarding oversight of third parties

    -  Understanding vicarious liability


  • Prepaid programs with non-traditional third parties (insurance, healthcare, etc.)

For information and registration, click here.