23rd National Forum on Prepaid Accounts Compliance - DS

In-Person/Livestream

23rd National Forum on PREPAID

ACCOUNTS COMPLIANCE

February 8–9, 2023

Minimizing Legal & Compliance Risks with Cards, Checkless DDA Accounts and Digital Wallets

Hear Regulatory Updates from:

Carole Reynolds Senior Attorney Division of Financial Practices Federal Trade Commission

Dmitry Chesnokov Assistant Director –Supervisory Attorney

U.S. Securities & Exchange Commission

Associate Sponsor:

Timely In-Depth Sessions on:

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FUTURE PREDICTIONS: Senior Executives Discuss Changing Demographics and Consumer Preferences

ENFORCEMENT LANDSCAPE: Deep Dive into Recent Enforcement Actions and Important Takeaways

THIRD PARTY OVERSIGHT: Key Strategies to Monitor Your Partners/Providers

NEW PRODUCTS AND NEW PLAYERS: How to Minimize the Legal Risks of Innovation

INTERSECTION OF CRYPTO AND PREPAID PRODUCTS: DeFi, Stable Coins, and Artificial Intelligence

The Madison Hotel, Washington, DC Plus-Circle USD-CIRCLE User-Friends

DISASTER RELIEF PAYMENTS: Future of Government and Charitable Payments to Individuals in Disaster Zones

Network with Senior Legal and Compliance Professionals from:

ƒ Alloy

ƒ Circle Internet Financial

ƒ DailyPay

ƒ Fireblocks

ƒ FleetCor

ƒ Greenlight Financial Technology

ƒ InComm Financial Services

ƒ Key Bank

ƒ Netspend

ƒ Pathward

ƒ Payactiv

ƒ Sutton Bank

ƒ The Bankcorp

Back In-Person in Washington DC this February!

Formerly known as the Prepaid Card Compliance Conference, this timely program covers the prepaid industry's move to mobile, digital, and contactless platforms.

Hear from an outstanding faculty including leading prepaid product companies, senior government officials along with industry experts who will share how they are addressing the latest developments impacting the prepaid industry. Gain essential know-how for structuring new product offerings, mitigating risk and discuss compliance best practices.

Distinguished Faculty Government Faculty

Joseph Borg Director Alabama Securities Commission

Dmitry Chesnokov Assistant Director –Supervisory Attorney U.S. Securities & Exchange Commission

Carole Reynolds Senior Attorney, Division of Financial Practices Federal Trade Commission

Stephanie R. White Chief Deputy Commissioner North Carolina Office of the Commissioner of Banks

Ingrid White Deputy Superintendent of Banks Ohio Department of Commerce

Expert Faculty Also Includes:

Jason Allegrante Chief Legal & Compliance Officer Fireblocks

Jim Alvey VP of Disaster Recovery and Philanthropy Good360

Juan Azel Partner Winston & Strawn LLP

Gizelle Barany General Counsel Alloy

David Beam Partner

Mayer Brown LLP

James Booker Senior Counsel Sutton Bank

Nadia Dombrowski Chief Legal and Administrative Officer Pathward

Eric Goldberg Partner Akerman, LLP

Brad Fauss Senior Vice President and General Counsel Greenlight Financial Technology

Azba Habib Global Chief Compliance Officer FleetCor

Jason Honeycutt Chief Compliance Officer Netspend

Brian Hurh Partner

Davis Wright Tremaine LLP

Molly Jones VP of Government Affairs Payactiv

Jane A. Levine Chief Compliance Officer DailyPay, Inc.

Lisa M. Liban Managing Director, Chief Counsel Business and Regulatory Affairs The Bancorp Bank, N.A

WHO SHOULD ATTEND?

ĉ Regulatory and Enforcement Officials, Financial Products and Payments Professionals, Including:

y General Counsel

y Compliance Officers/Managers

y Risk Officers/ Managers

y AML Managers

y Privacy Officers

y Data Security Officers

y Regulatory Affairs Officers/Managers

ĉ Private Practice Attorneys Specializing In:

y Prepaid Cards

y Financial Services

y Regulatory Compliance

y Banking Law

y AML y Privacy/Data Security y Advertising & Marketing Compliance

Amy Mushahwar Partner Alston & Bird

Donald Mosher Partner Schulte Roth & Zabel

B.J. Moravek Director of AML and Sanctions

Kaufman Rossin & Co

Flavia Naves General Counsel & Corporate Secretary Circle Internet Financial

Linda Odom Partner K & L Gates

Joshua Quincy Global Data Privacy Officer and Senior Associate General Counsel InComm Payments

Gerry Sachs Vice President of Legal, New Product Initiatives Remily

Patricia (Patti) Smolsky Senior Manager, Payments Risk Key Bank

Kirsten Trusko Co-Founder Paal- Payments as a Lifeline

Barrie VanBrackle Partner Latham & Watkins LLP

Thomas Ward Partner Sidley Austin LLP

Brian Yates Senior Director, State Government Affairs Electronic Transactions Association

Main Conference Day One

Wednesday, February 8, 2023

7:30 a.m. Registration and Continental Breakfast

8:30 a.m.

Co-Chairs’ Opening Remarks

Microphone-alt Lisa M. Liban, Managing Director, Chief Counsel Business and Regulatory Affairs, The Bancorp Bank, N.A

Donald Mosher, Partner, Schulte Roth & Zabel

8:45 a.m.

Future Predictions: Senior Executives Discuss Changing Demographics and Consumer Preferences and How That Will Impact the Future Direction of the Industry

Microphone-alt Brad Fauss, Senior Vice President and General Counsel, Greenlight Financial Technology

Nadia Dombrowski, Chief Legal and Administrative Officer, Pathward

• Digital first - huge spike in e-commerce during COVID

• Many new entrants with limited prepaid experience

• Growing prepaid adoption among millennials

• Intersection of FinTech and Prepaid

• Prepaid vs. DDA programs

• Rise and challenges of BNPL

9:30 a.m.

Enforcement Landscape: Deep Dive into Recent Enforcement Actions and Important Takeaways

Microphone-alt Eric Goldberg, Partner, Akerman, LLP

Gerry Sachs, Vice President of Legal, New Product Initiatives, Remily

• OCC Consent Order for Blue Ridge Bank

• OFAC enforcement action against Tango Cash

• Industry change in response to PayPal vs. CFPB case

• 5th Circuit’s opinion on CFPB funding

• CFPB report on BNPL

• FDIC advisory re incorrectly marketing financial products

• OCC requires improved monitoring of fintech partners

• Cease & Desist letter issued to five crypto currency firms

10:30 a.m. Morning Coffee

10:45 a.m.

Compliance Best Practices: Essential Strategies to Ensure Compliance and Strengthen Your Program

Microphone-alt Jason Honeycutt, Chief Compliance Officer, Netspend B.J. Moravek, Director of AML and Sanctions, Kaufman Rossin & Co.

Azba Habib, Global Chief Compliance Officer, FleetCor

• Importance of transactions monitoring

• Need for distributor and asset oversight

• Tools to validate your model

• Important steps to include during your AML assessment

• How to perform due diligence on your partners

11:30 a.m.

Third Party Oversight: Key Strategies to Monitor Your Partners/Providers and How to Ensure the Effectiveness of Their Compliance Programs

Microphone-alt Patricia (Patti) Smolsky, Senior Manager, Payments Risk, Key Bank

Barrie VanBrackle, Partner, Latham & Watkins LLP

• Need for new strategies and tools for vendor due diligence

• Importance of a third-party audit

• Strategies for performing critical due diligence

• How to work effectively with your partner

12:15 p.m. Networking Lunch

1:15 p.m.

Federal Update: Overview of 2023 Regulatory Priorities

Microphone-alt Carole Reynolds, Senior Attorney, Division of Financial Practices, Federal Trade Commission

Dmitry Chesnokov, Assistant Director – Supervisory Attorney, U.S. Securities & Exchange Commission

David Beam, Partner, Mayer Brown LLP

This timely session will provide insight into the rapidly changing Federal regulatory landscape. Hear about the 2023 priorities and initiatives related to prepaid products.

Fighting Financial Cyber Crime: How the Industry is Working Together to Meet Increasing Privacy, Cybersecurity and Data Security Challenges

Microphone-alt Joshua Quincy, Global Data Privacy Officer and Senior Associate General Counsel, InComm Payments

Amy Mushahwar, Partner, Alston & Bird

• How to combat increasing fraud?

• Key steps to strengthen your cybersecurity controls

• Strategies to protect your data and avoid a breach

• Understanding a complex regulatory environment

3:00 p.m. Networking Break

3:15 p.m.

AML & Sanctions: Strengthening Your KYC and Screening Process To Ensure That Your Compliance Program Will Meet Regulatory Scrutiny

Microphone-alt Gizelle Barany, General Counsel, Alloy

Juan Azel, Partner, Winston & Strawn LLP

• New customer on-boarding

• Customer identification verification

• How to screen for sanctions violations and clear exceptions

• Geolocation and IP address screening

• Meeting OFAC and FInCEN expectations

4:00 p.m.

New Products and New Players: How to Minimize the Legal Risks of Innovation in Prepaid Payment Market

Microphone-alt Jane A. Levine, Chief Compliance Officer, DailyPay, Inc.

Molly Jones, VP of Government Affairs, Payactiv

Brian Hurh, Partner, Davis Wright Tremaine LLP

• Earned Wage Access (EWA)

• Buy Now Pay Later

• White Label and Bank-Fintech Partnerships

4:45 p.m.

Intersection of Crypto and Prepaid Products: DeFi, Stable Coins, and Artificial Intelligence

Microphone-alt Flavia Naves, General Counsel & Corporate Secretary, Circle Internet Financial

Jason Allegrante, Chief Legal & Compliance Officer, Fireblocks

• Discuss the future of crypto and payments

• What types of products are coming to market?

• How will demand change for traditional products

• Who are the early entrants to watch?

5:30 p.m.

End of Day One

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Accreditation will be sought in those jurisdictions requested by the registrants which have continuing education requirements. This course is identified as nontransitional for the purposes of CLE accreditation.

ACI certifies this activity has been approved for CLE credit by the New York State Continuing Legal Education Board.

ACI certifies this activity has been approved for CLE credit by the State Bar of California.

ACI has a dedicated team which processes requests for state approval. Please note that event accreditation varies by state and ACI will make every effort to process your request.

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Main Conference Day Two

Thursday, February 9, 2023

8:55 a.m.

Co-Chairs' Opening Remarks

9:00 a.m.

CFPB Latest Developments

Microphone-alt Thomas Ward, Partner, Sidley Austin LLP

This session will provide an overview of the latest activities of the CFPB and discuss what is expected for 2023 and beyond including:

• Potential registration for non-banks

• Expansion of UDAAP authority (unfairness prong) to infer that every financial services product has an anti-discrimination requirement

• Proposed rules on Data Access and Portability

9:45 a.m.

State Regulatory Oversight: Monitoring Increased Regulatory and Enforcement Activity at the State Level

Microphone-alt Joseph Borg, Director, Alabama Securities Commission

Stephanie R. White, Chief Deputy Commissioner, North Carolina Office of the Commissioner of Banks

Donald Mosher, Partner, Schulte Roth & Zabel

Ingrid White, Deputy Superintendent of Banks, Ohio Department of Commerce

• Licensing Laws and Trends, including the Model Act

» Applicability to prepaid accounts of fiat or crypto

» Closed loop vs. Open loop

» Unlicensed FinTech arrangements with banks and licensees

• Safety and Soundness of Money Transmitter Licensees offering prepaid accounts of fiat or crypto

» AML, Sanctions Screening & Cybersecurity

» Reporting and Permissible Investments

» Bonding and Net worth requirements

» Protecting consumers in the event of Insolvency

• Enforcement

» Unauthorized Money Transmitter Activity

» Multi-state and Multi-agency enforcement

11:00 a.m. Coffee Break

Media Partners

11:15 a.m.

Disaster Relief Payments: Future of Government and Charitable Payments to Individuals in Disaster Zones

Microphone-alt Linda Odom, Partner, K & L Gates

Jim Alvey, VP of Disaster Recovery and Philanthropy, Good360 Kirsten Trusko, Co-Founder, Paal- Payments as a Lifeline

• Delivering a payment program in a disaster zone

» Challenges including consumer awareness, service availability, onboarding, and activations

• Identity verification and fraud

» High percentage of fraud in government benefits

» Challenges and benefits of charitable giving programs

» What’s working now and coming soon.

• War in in Ukraine – what worked and what didn’t?

12:00 p.m.

Prepaid Industry Regulatory Developments to Watch in 2023

Microphone-alt Lisa M. Liban, Managing Director, Chief Counsel Business and Regulatory Affairs, The Bancorp Bank, N.A

Brian Yates, Senior Director, State Government Affairs, Electronic Transactions Association

• Rise of Crypto cards

• Impact of real time payments

• Popularity of Buy now pay later

• Hybrid programs

• Increased use of cards for Marijuana

• CFPB anti-discrimination test under Reg E.

• CFPB authority to examine non-bank companies posing risks to consumers

12:45 p.m.

Conference Concludes

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The

is a fast-paced opportunity to meet new people and expand your professional network

Plan to visit the Expo often. It will be open before, during, and after the conference. Use this opportunity to explore new products and services from leading providers, and meet with new and existing partners over video chat.

Gain key insights into the hurdles arising amid extraordinary market expansion and regulatory compliance uncertainty. Register early to take advtange of the lowest rate!

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7th Annual Legal, Regulatory and Compliance Forum on FINTECH

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EMERGING

PAYMENT SYSTEMS

Anti-Money Laundering

Venue:

Hotel: The Madison Hotel

Address: 1144 15th Street, NW; Washington, DC 20005

Reservations: 1-877-532-7984 and mention “ACI’s Prepaid Accounts Compliance”

American Conference Institute is pleased to offer our delegates a limited number of hotel rooms at a negotiated rate. To take advantage of these rates, please contact the hotel directly and quote “ACI’s Prepaid Accounts Compliance”.

Please note that the guest room block cut-off date is Friday, January 17th, 2023. After that date OR when the room block fills, guestroom availability and rate can no longer be guaranteed.

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If you are unable to attend for any reason, you will have the following options:

y A full credit note for you, or a colleague to attend another event.

y A full refund.

All cancellations and changes must be submitted to CustomerService@AmericanConference.com by January 25

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