If you are involved or follow the world of prepaid cards, you already know that the CFPB had issued proposed rules late last year, and that the comment period ended late March.
The California Bar Business Law Section holds a lunchtime lecture series which features the latest of relevant and interesting topics.
March’s presentation was “Prepaid Cards and the New Rules of the Road.” Here is the summary, along with links to presentations below:
Over five percent of retail sales in the U.S. (representing $200 billion) were made with prepaid cards last year. From gift cards to general purpose reloadable cards to virtual cards embedded in smartphones, prepaid cards are everywhere…. And so are 800+ pages of newly proposed prepaid card rules and guidance.
- Judie Rinearson , Bryan Cave Partner and regulatory counsel to the prepaid industry association, will explain the contours of the new proposed rules and their interplay with existing electronic funds transfer and credit regulations.
- Emily Goodman Binick, American Express Senior Counsel will help us understand the challenges and opportunities involved in implementing both existing prepaid card laws and the new proposed rules.
- Michelle Jun, Payments Law Group Principal and former Consumers Union attorney, will share insights into market dynamics and consumer protection issues that still need to be resolved.