Compliance & Regulatory Track

Compliance & Regulatory Track

Rules and regulations are the bedrock of financial services and payments, and provide the necessary surety for transactions. Understanding the most crucial concepts and innovations will lead to positive, competitive results.

AI, Alexa, Authorizations & ACH

Compliance & Regulatory | Advanced

With the advent of Alexa and Siri and all of their "friends," what are the possible roles for artificial intelligence and voice activated personal assistants in ACH payments? This very human discussion examines what can be done now and in the near future using these tools to advance payment capabilities.

Questions answered by this session:
1. What are the issues for data security and privacy with regard to voice recognition and ACH payments?
2. Does “Alexa” understand Regulation E or what the NACHA Operating Rules require for authorizations?

Jeanette Hait Blanco
Assistant General Counsel, NACHA - The Electronic Payments Association

Janice Havins
Executive Director & Assistant General Counsel, J.P. Morgan

Karen Sylvester, AAP, NCP, CAMS, CRCM
Director, Regulatory Compliance, EPCOR


Audit Lessons: Learn from Mistakes and Improve Your ACH Operations

Compliance & Regulatory | Intermediate

This session provides insights from an auditor, regulator and an FI on how to prepare for the ACH Compliance Audit, and what can be learned from the audit to improve their ACH payments operations.

Questions answered by this session:
1. What are some best practices for preparing and gathering requested documentation  for an audit? 
2. How can you use audit results to help prepare for future audits?

Tony DaSilva, AAP
Subject Matter Expert, Federal Reserve Bank of Atlanta

Kay Dugger, AAP
ACH Product Manager, Huntington National Bank

Jennifer Kline, AAP, APRP, NCP
Director, Audit Services, EPCOR


Bank & Fintech Partnerships: The Prepaid Model

Compliance & Regulatory | Intermediate

Fintech companies that do not obtain their own charter or license will need to partner with a financial institution to provide depository, lending and payment services. Some companies will simply act as Third-Party Service Providers to FIs, but fintechs that want to be the brand and own the customer relationship will need to create new business models supported by more complex legal relationships. Prepaid debit card programs provide an accepted model for such arrangements. This panel discusses the legal relationships between prepaid issuers, program managers, processors and other service providers; allocation of risk and responsibility among participants; and regulator review and approval of prepaid programs.

Questions answered by this session:
1. How can prepaid debit card programs provide a model for structuring partnerships between financial institutions and fintech companies?
2. What are the essential elements of a prepaid program that should be mirrored in fintech partnerships adopting the model?

Brad Fauss
General Counsel, Wirecard North America, Inc.

John Hagy
Chief Policy Officer, MetaBank

Stephen Middlebrook
Of Counsel, Womble Bond Dickinson


Common Mistakes in Third-Party Payee Authorizations

Compliance & Regulatory | Intermediate

This session highlights common mistakes Originators make when obtaining authorizations from consumers and third parties, and addresses what can occur when customers change the original authorization or even revoke it completely. Attendees come away with guidance and practical solutions to help minimize these mistakes.

Questions answered by this session:
1. How can an organization help originators identify areas where their process for obtaining and relying on customer authorizations make contain weaknesses or deficiencies?
2. What is some guidance and practical solutions to correct mistakes that originators can implement in their organizations immediately?

Susan Chylik
Member, McGlinchey Stafford


Consumer Finance Regulatory Updates

Compliance & Regulatory | Fundamental

This session provides regulatory updates of relevant consumer financial regulatory developments, with a particular focus on the CFPB and the Federal Trade Commission. Topics addressed include  use of the Congressional Review Act to impact consumer financial regulations, as well as the status of ongoing CFPB regulations, including the Prepaid Account Rule, Payday Lending Rule, Gramm Leach Bliley, and UDAAP Developments.

Questions answered by this session:
1. What are the regulatory developments in the consumer financial space?
2. What are the possible future developments in the consumer financial regulatory space and which are most relevant to their daily work and potential impact to business?

Brandis Anderson
Product & Regulatory Counsel, Plaid, Inc.

Elizabeth Corbett
Deputy General Counsel, State Employees' Credit Union

Genessa Stout
Director, Consumer Products, PayPal, Inc.


Federal Reserve Town Hall

Compliance & Regulatory | Intermediate

The Federal Reserve has continued to pursue payments improvements in the U.S. by enhancing its service offerings over the past year; evolving wire, ACH and electronic check services to meet the changing needs of the payments ecosystem; and helping to ensure the system’s safety and security. Attend this session to hear from senior Fed executives about efforts to support a world-class payment system that is immediate, ubiquitous, broadly inclusive, safe, highly secure and efficient. They also cover the latest on the Fed's assessment to determine its role in the U.S. faster payments system, while delving into the latest payments regulatory news and updates to paint a vivid picture of what customers can expect to see in the coming years.

Questions answered by this session:
1. How has the Federal Reserve continued to pursue payments improvements in the U.S.?
2. What role will the Federal Reserve play in the U.S. faster payments system and what is in store for payments regulatory payments?

Susan Foley
Senior Associate Director, Program Direction, Board of Governors of the Federal Reserve System

Kenneth S. Isaacson
Senior Vice President & Wholesale Product Manager, Wholesale Product Office, Federal Reserve Bank of New York

Cheryl Venable
Executive Vice President & Product Manager, Retail Product Office, Federal Reserve Bank of Atlanta

Moderated by: Shonda Clay
ECM Executive Vice President, Customer Relations Support Office, Federal Reserve Bank of Chicago


Privacy Compliance for Financial Institutions

Compliance & Regulatory | Intermediate

Worried about the impact of the new California Consumer Privacy Act on your financial institution? So are we. The speaker discusses the requirements and obligations of this significant law that will take effect in 2020, with an emphasis on possible effects for financial institution. Attendee dialogue is encouraged and attendees leave with a better understanding of what preparations can be made now.

Questions answered by this session:
1.How will the California Consumer Privacy Act affect your organization?
2. What should be done to prepare for compliance with the Act?

Daniel Wood
Attorney, Pillsbury Winthrop Shaw Pittman, LLP


Real-Time Payments & Regulatory Balkanization

Compliance & Regulatory | Intermediate

Speakers in this session examine the current regulatory landscape and the possible affects on the speed of adoption of new payment capabilities. Panelists provide their thoughts on what is working well and what could be improved, while offering a look at how the U.S. compares to the rest of the world as the industry – and the regulatory environment – continue evolving.

Questions answered by this session:
1. What are some of the different mechanisms (rules, regulations, contracts) used to assure safety and efficiency of the payments experience?
2. What are the strengths and weaknesses of the regulatory and governance framework in the U.S.?

Michelle Lewis
VP, Payments Governance Risk and Ops, Early Warning

Samantha Pelosi
Senior Vice President, Payments and Innovation, BAFT

Gary Stein
Deputy Assistant Director, Office of Card, Payment & Deposit Markets, Consumer Financial Protection Bureau


Unclaimed Property Compliance

Compliance & Regulatory | Intermediate

This session assists financial institutions on how to identify what unclaimed property is and how to get into compliance while reducing exposure and liability. Speakers engage with attendees on a variety of levels, including through the use of a white paper and quiz to help ensure compliance with the laws and provide attendees with tools, including a glossary, white paper, and a useful quiz to help ensure compliance.

Questions answered by this session:
1. Why must your organization be compliant with state unclaimed property laws?
2. How do laws differ from state to state?

Mary Gilmeister, AAP, NCP
President, WACHA - The Premier Payments Resource

Michael Ryan
SVP, Business Development, Georgeson LLC

Cheryl Tiedt, AAP
Cash Manager, Thrivent Financial


What We Can Learn from Europe's Successes and Mistakes

Compliance & Regulatory | Intermediate

Speakers in this session review the legal and business changes that are reshaping the payments market in Europe, and provide U.S.-based financial institutions and payment processors with insight into what they can do to get and stay ahead of their competitors. Topics include the EU's passporting system; the UK's fintech sandbox, PSD2 and open banking requirements; and how the GDPR is reshaping privacy and data security, even for entities that have no presence in Europe. The panel discusses which of these initiatives have been successful and which have been missteps, providing U.S. financial institutions and payment processors with insights that will keep them ahead in the payments innovation race.

Questions answered by this session:
1. How does the OCC's proposed limited-purpose fintech bank charter and the CFPB's new Office of Innovation align with the changes in Europe?
2. How can lessons learned in Europe shape the U.S. payments ecosystem?

Erin Fonte
Member, Dykema Gossett PLLC

Brenna McGee
Attorney, Dykema Gossett PLLC


Working Out Cannabis Banking Issues

Compliance & Regulatory | Intermediate

While some states have approved legalized recreational cannabis, 46 states have legalized some form of medical cannabis or cannabidiols (CBDs). It is projected that the legalized cannabis industry will create more than a quarter million new jobs by 2020. Yet it is still illegal on the federal level. This regulatory structure creates unique problems for businesses looking to obtain financial services, and for every financial institution – not just those willing to offer basic business account services to the industry. Panelists discuss lessons learned regarding banking issues from the frontlines of the legalized cannabis industry as it continues to expand.

Questions answered by this session:
1. What are the regulatory impacts of the legalized cannabis industry on the banking industry?
2. How can financial institutions develop a cannabis banking policy even if they are not directly involved in the industry?

Cora Parker
Director of Finance, Oregon State Treasury

Jim Petkovits, AAP, APRP, NCP
Vice President of Education, WesPay

Rachel Pross
Chief Risk Officer, Maps Credit Union