The prepaid industry is currently experiencing intense growing pains associated with being a relatively young, rapidly evolving market as federal and state government initiatives now at work threaten the progression of this explosive payment segment.
Please join Ben Jackson, sr. analyst, with Mercator Advisory Group???s Prepaid Advisory Service as he provides an insightful overview of the numerous regulatory issues faced by closed-loop and open-loop prepaid card programs. Ben will bring the most up-to-date information made available on topic including proposed FINCEN regulations, the Durbin Amendment to the Financial Reform Bill, the CARD Act, retailer bankruptcies, patent law, payroll laws, and state laws and regulations. Also included in the Webinar will be a brief discussion about how the prepaid industry may consider self regulation as a possible solution to avoid onerous government regulations. This Webinar is based on a recent Mercator Advisory report by the same name.
NOTE: Ben Jackson is not an attorney, and this program is not meant to be used as a substitute for legal advice. This Webinar is designed to give companies a broad overview of the regulatory environment surrounding prepaid cards from a business perspective, offer an overview of the complex regulatory environment and a greater ability to have an informed discussion with their counsel as they make business decisions.
"Regulations will vary depending on whether a card is open-loop or closed-loop and depending on the purpose for which the card program is designed. For example, over the past few years, regulations have changed to extend Federal Deposit Insurance and Regulation E protections to payroll cards, but these changes did not extend universally to all prepaid cards. The CARD Act is another example in that it has added a new level of regulation to gift cards but excludes other types of cards," comments Ben Jackson, sr. analyst, Mercator's Prepaid Advisory Service and author of the 'Understanding Prepaid Regulations: A Framework for Asking the Right Questions' report. "It is important to note that the CARD Act and other recent changes is by no means the end of the story. Regulations will continue to change and evolve, partially in reaction to the evolution of the industry, and partially in response to the experience that consumers have with the cards."
Recording Date: July 1, 2010
Duration: 53 minutes
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors.