Prepaid Account Regulations: A Readiness Checklist

Duration: 60 Minutes
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This payments webinar will review the products covered by the regulation and the criteria used to determine coverage. Also very important to understand is the information that must be disclosed to the consumer at the time of purchase whether in a store, branch office, online or via phone and finally we will discuss Regulation E protection requirements.
CFPB E Regulations
Instructor: Patricia Hewitt
Product ID: 509967
Our prepaid card webinar will conclude with the transaction history requirements and provide a deep-dive into the requirements for over-draft coverage and the conditions under which Regulation Z requirements must be followed. The payments webinar will finish with implementation of effective date requirements.

Objectives of the Presentation
  • A definition of which types of prepaid and other payment accounts are covered under the new rules
  • Requirements for providing overdraft coverage
  • Conditions that trigger Regulation Z requirements
  • Explanation and examples of new disclosure requirements
  • Timeline for implementation
  • Liabilities and responsibilities of issuers and their vendor partners
Why Should you Attend
The Consumer Financial Protection Bureau (CFPB) finalized their regulations regarding prepaid cards in October, 2016. Beginning in October, 2017 prepaid debit card users will have stronger federal consumer protections. The new rule requires financial institutions to limit consumers' losses when funds are stolen or cards are lost, investigate and resolve errors, and give consumers free and easy access to account information. The Bureau also finalized new "Know Before You Owe" disclosures for prepaid accounts to give consumers clear, upfront information about fees and other key details. Finally, products not previously regulated under Reg E. will be incorporated into the rules including P2P payments and some wallets. Be sure that you understand the regulation and how it may apply as you prepare for the October implementation. Join us for this prepaid card webinar as we help you navigate the key components of the new 1,689 page rule.

Areas Covered
  • New Prepaid card and account regulations
  • Overdraft procedures
  • Offering access to line of credit
  • Disclosure requirements
  • Timeline for implementation
  • Risk in non-compliance
Who will Benefit
  • Prepaid card market manager
  • Prepaid program manager
  • Compliance manager
  • Lending and underwriting managers (consumer)
  • Fulfillment managers
$300
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Patricia (Patti) Hewitt is the CEO of PG Research & Advisory Services and a widely recognized expert and strategic advisor to the financial services industry. She has worked extensively with companies and organizations across the market spectrum, from global card networks to emerging technology entrepreneurs providing strategic advice and subject matter expertise relating to financial services market dynamics, business model change management, and identifying inflection points within the industry's value chain.

Her proven ability to put change into context, allows her to provide expert services in the areas of market transformation, change management, competitive positioning and rationalizing new products, services and technologies into strategic go-to-market plans.

Her professional background includes holding executive positions at SunTrust Bank (formerly Sun Bank), PaySys International (owned by First Data) and Fiserv. Most recently, Patti was Vice President and Managing Director of Consulting Services for Mercator Advisory Group where she was responsible for all custom research and global consulting work for the firm.
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