The Evolving Federal Regulatory and Enforcement Waters:Current and Pending Initiatives and New Compliance Obligations,Preparing…

October 6, 2014 8:05am


Elizabeth A. Khalil
Dykema Gossett PLLC

Michael Benardo
Cyber Fraud and Financial Crimes Section Chief
Federal Deposit Insurance Corporation

Gerard (Jerry) W. LiVigni
Senior Compliance Officer
U.S. Treasury Department Office of Foreign Assets Control (OFAC)

Sandeep Dhameja
Risk-Management Team Leader, Supervision and Regulation
Federal Reserve Bank of Chicago

David Eskew
Assistant U.S. Attorney
U.S Attorney’s Office, District of New Jersey

Cheryl Slipski
Executive Vice President, General Counsel
Ubiquity Global Services, Inc.

Andy Bonillo
Director, Cyber Security and Public Safety

C. Steven Baker
Director, Midwest Region
Federal Trade Commission


Chris Daniel
Paul Hastings LLP

The federal regulatory and enforcement landscape is in a state of flux for the prepaid card industry. Industry participants must understand how the evolving federal conditions impact their businesses, their clients, and their interactions. Learn how to continue to innovate, pursue growth opportunities, and deliver profi tability while managing exposure to regulatory and compliance risks. This panel of government and industry speakers will address recent enforcement hot spots and regulatory and compliance challenges, including new and emerging issues. Topics include:

  • The latest legislative developments in Washington
  • Ensuring that your company has taken the necessary steps to satisfy regulatory scrutiny
  • Best practices for working with regulators to determine how best to meet compliance obligations
  • A practical, how-to guide for preparing for examinations by the different regulatory agencies: CFPB, FinCEN, OCC, FDIC, etc.
  • Bank exams extending to the program manager
  • Regulatory focus on bank oversight of program managers
  • Best practices for supervisory oversight of prepaid programs
  • Recent enforcement actions and trends
  • The latest on fraud schemes: Government efforts to detect, identify and prevent fraud and cyber crime
  • Fraud mitigation initiatives; ENR and tax payments fraud
  • Working with law enforcement and preserving the chain of custody
    • Lessons learned from the Target data breach
    • Having a written post-breach response plan ready and tested
    • Identifying a breach response team, training each member in their role and having a communications plan
    • Knowing what regulations, statutes and contracts govern
  • FinCEN’s prepaid access rule: Lessons learned; new and emerging guidance relating to prepaid access
  • A second look at refund anticipation loans by the Department of Treasury: 2010 interim final rule that restricts ACH from federal government made to prepaid card accounts; View that refund anticipation loans are predatory
  • Implementing technology for same day ACH transfer