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Payments & Prepaid Instruments

The law firm’s Payments & Prepaid Instruments group has extensive experience addressing regulatory compliance of payment instruments and prepaid cards.  The team’s focus touches all aspects of the implementation and management of payment and prepaid card programs, including federal and state regulatory compliance and federal and state lobbying and legislative efforts.  The group represents most segments of the industry, including state and federal banks and financial institutions; national, regional, and local retail chains; online retailers; and industry organizations.  The attorneys assist clients in navigating an increasingly complex array of state and federal regulations by incorporating compliance management techniques into payment instrument and prepaid card programs.

Practice Group Attorneys

Areas of Experience

  • Consumer protection laws
  • Escheat and unclaimed property statutes
  • Anti-money laundering regulations
  • Money transmission
  • Privacy regulations
  • Electronic funds
  • Virtual payment and prepaid cards
  • Management of breakage and slippage
  • Legal-related accounting matters
  • Vendor contracts
  • Bank sponsor agreements
  • Third-party distributor contracts
  • Program Regulatory Management: Designed and managed regulatory compliance systems for over 500 programs in the United States, Canada, and Europe.
  • Industry Innovation: Served as attorneys for industry innovators, such as Groupon, Card Compliant and Store Financial Services.
  • Legislative Projects: Been retained to present information or comment upon numerous proposed statutes and regulations, such as the Credit CARD Act of 2009, the Durbin Amendment, FinCEN regulations, and numerous state and provincial regulations.
  • Industry Standards: Worked on several standards used in the payment and prepaid card industries, such as the standards for derecognizing prepaid card and payment liabilities set by the Financial Accounting Standards Board and the International Accounting Standards Board.
  • Litigation Support: Served as direct and special counsel with respect to litigation matters in the payments and prepaid card industry
  • And More

Related Practice Areas

  • Administrative Law & Regulatory Proceedings
  • Banking Transactions
  • Business Law