5th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - DS by C5Group

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NEW PRACTICAL VIRTUAL FORMATS (see page 3 for details)

5th Annual Legal, Regulatory and Compliance Forum on

FINTECH & EMERGING PAYMENT SYSTEMS May 18–19, 2021 (EDT) • Virtual Conference

Distinguished 2021 Co-Chairs: Jodi Golinsky Director, Associate General Counsel (Financial Solutions) Shopify

Join Leading Industry Experts: • Adyen

• Klarna

• Affirm

• Plaid

• Brex

• Point

• Branch • BorrowWorks • Chime • eBay • Fiserv • GoFundMe

• Novi • PayActiv • Shopify • Visa

Special Industry Insights from: Tina Robertson Assistant General Counsel Chime

Eric I. Goldberg Partner Akerman LLP

Brian Tate President & Chief Executive Officer Innovative Payments Association

2021 Conference Highlights: CHEVRON-RIGHT 2020 in the Rear-View: What Changes and Innovations Are Here to Stay and Will Drive the Industry Forward

CHEVRON-RIGHT How the AMLA and other Recent Developments Affect the Landscape for Cryptocurrencies and Digital Assets Market Participants

CHEVRON-RIGHT What is the Anticipated Impact of New Regulatory and Enforcement Priorities and Leadership Changes at Key Agencies

CHEVRON-RIGHT Beyond Open Banking: How to Overcome the Principal Legal and Regulatory Hurdles to Achieve Open Finance in the U.S.

CHEVRON-RIGHT “Buy Now, Pay Later”: Deciphering the Legal Must-Knows of Instalment Payment Business Models

CHEVRON-RIGHT Post PayPal Ruling: Analyzing the Legal Implications for Prepaid Card and Digital Wallet Providers

Supporting Sponsor:

• Varo

AmericanConference.com/PaymentsFinTech • 888 224 2480

Associate Sponsors:

Sponsored by:

FACULTY

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PRICING

Complimentary FINTECH WEBINAR

Financial Privacy in the Trenches: A Special Webinar on Identifying and Mitigating Risk in the Trickiest Data Use Situations April 14 @ 2–3pm Eastern Daylight Time • VIRTUAL CONFERENCE Jonathan D. Lund

Assistant General Counsel – Digital & Payments VW Credit

Chris Donewald

Director, Managing Counsel (Privacy, Trust, & Partnerships) Affirm

Rachel R. Marmor

Partner Davis Wright Tremaine LLP

Register for this FREE webinar featuring seasoned data privacy experts from industry and with cross-industry experience. The discussion will delve into the current state of privacy debates at the state and federal levels, explore how FinTechs can best manage the requirements of the GLBA, and discuss how to deal with day-to-day privacy issues around data sharing and data governance. This webinar is approved for CLE credit in California, New York, and New Jersey – Earn 1 CLE credit.

2 | #ACIFinTech

twitter: @ACI_Finance linkedin: Financial Services – Legal, Regulatory and Compliance Professionals

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FACULTY

A Fintech Conference Like No Other. The 2021 iteration of ACI’s highly anticipated annual conference has been revamped against the backdrop of a turbulent 2020 that resulted in a spurt of growth and innovation for the FinTech industry. This year’s sessions will not only analyze the implications for companies in 2021 of last year’s evolving industry landscape and regulatory and enforcement environment. It will also offer new ways of virtual engagement and participation, such as practical case studies, a hands-on workshop and an industry think tank.

2021 SPEAKER FACULTY: CO-CHAIRS:

Jodi Golinsky Director, Associate General Counsel (Financial Solutions) Shopify Tina Robertson Assistant General Counsel Chime Eric I. Goldberg Partner Akerman LLP EXPERT FACULTY:

ACI’s conference is the only event of its kind where you can network and benchmark with key stakeholders from industry and regulators to gather the knowledge necessary to remain compliant while fostering innovation. You will have ample opportunity to learn about the expectations of regulators in 2021 and align your business and compliance practices accordingly.

David L. Beam Partner Mayer Brown LLP Matt Brady General Counsel Point Carlo Bruno Product Lead Identity Risk Adyen (Netherlands) Brian Crist Vice President of Payments, Legal eBay

NEW PRACTICAL VIRTUAL FORMATS:

USERS-COG

THINK TANK: A Government-Industry Collaboration to Help Consumers – Focus on Sandbox Partnerships, PPP and EIP

SEARCH-PLUS

CASE STUDY: Next-Gen Due Diligence and Holistic KYC via Network Analysis and Machine Learning

edit

FOCUS WORKSHOP: Federal v. State Licensing – Compare and Contrast to Disentangle the Web of Differing Requirements and Regulations

AmericanConference.com/PaymentsFinTech • 888 224 2480

Melissa G. Goldstein Special Counsel Schulte Roth & Zabel LLP Emily Goodman Associate General Counsel Brex Marina Gracias General Counsel Varo Bank Michelle Harold Chief Operating Officer Borrow Works Lisa Liban Vice President and Assistant General Counsel, Regulatory Compliance Fiserv

WEBINAR

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OUR VIRTUAL PLATFORM

Laurel Loomis Rimon Partner O'Melveny & Myers LLP Andrew J. Lorentz Partner Davis Wright Tremaine LLP Jai R. Massari Partner Davis Polk & Wardwell LLP Robin McGrath Partner Duane Morris LLP Jeanine P. McGuinness Partner Orrick Herrington & Sutcliffe LLP Edward R. McNicholas Partner Ropes & Gray LLP Smitha Mortis General Counsel Branch Matthew Murray Risk & Compliance Manager GoFundMe Samer M. Musallam Partner Ropes & Gray LLP Linda C. Odom Partner K&L Gates

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Krista Potter Assistant General Counsel & Senior Director, Product and Regulatory Affirm, Inc. David Reidy Chief Legal Officer PayActiv Judith Rinearson Partner K&L Gates Laurie Sellick Tauberg Senior Regulatory Counsel Affirm, Inc. Jessica Sklute Special Counsel Schulte Roth & Zabel LLP Tim Sullivan Legal Counsel Shopify Brian Tate President & Chief Executive Officer Innovative Payments Association Kathy Tomasofsky Director Money Services Business Association (MSBS)

George Parks Davie Senior Product Manager – Open Banking Klarna (Germany)

Ky Tran-Trong Vice President and Associate General Counsel, Global Regulatory Affairs Visa

Rusty Pickering President and Chief Operating Officer Ingo Money

Barrie VanBrackle Partner Orrick, Herrington & Sutcliffe

John Pitts Policy Lead, Plaid (Former Deputy Assistant Director, Intergovernmental Affairs at Consumer Financial Protection Bureau, CFPB 2013-2018)

Mandeep Walia Chief Compliance Officer and Head of Enterprise Risk Management Novi Sheryl Ann Yamuder Global Chief Privacy Counsel Fiserv Part of C5 Group’s

FINANCIAL COMPLIANCE GLOBAL SERIES

FACULTY

Day 1 – May 18, 2021 (EDT) 11:00

Opening Remarks from the Conference Co-Chairs Jodi Golinsky Director, Associate General Counsel (Financial Solutions) Shopify Tina Robertson Assistant General Counsel Chime

Eric I. Goldberg Partner Akerman LLP

11:15

2020 IN THE REAR-VIEW AND THE TOP CHALLENGES FOR 2021 What Changes and Innovations Are Here to Stay, Which Are Ephemeral, and What Will Drive the Industry Forward Ky Tran-Trong Vice President and Associate General Counsel, Global Regulatory Affairs Visa Emily Goodman Associate General Counsel Brex

Linda C. Odom Partner K&L Gates Rusty Pickering President and Chief Operating Officer Ingo Money

12:15

WEBINAR

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KEYNOTE PANEL

HOW THE NEW U.S. ADMINISTRATION SETS THE TONE FOR 2021 Regulatory and Enforcement Priorities for the Industry: What Leadership Changes at Key Agencies Portend for Companies’ Legal Obligations and Business Prospects (Please consult the website regularly for speaker updates.) 1:00

THINK TANK

A GOVERNMENT-INDUSTRY COLLABORATION Sandbox Partnerships, Providing PPP Loans, and Distribution of EIP: How Closer Cooperation Between the Fintech Industry and Government Agencies Could Help Consumers Brian Tate President & Chief Executive Officer Innovative Payments Association

David Reidy Chief Legal Officer PayActiv

Eric I. Goldberg Partner Akerman LLP • PPP and EPI: How the government and the FinTech and emerging payments industry might collaborate better on getting stimulus payments to businesses and consumers quickly and securely • After experimenting with prepaid cards, what kind of innovation is the government open to in order to get money to businesses and consumers other than via checks?

• How the FinTech industry saved 2020 from the worst: The acceleration of digitization, contactless payments, faster transactions – and the concomitant legal challenges

• What legal hurdles exist and how to overcome them to forge a closer and more effective partnership between government and industry/private enterprise.

• Key innovations in the products and technological space – and their legal and practical implications for companies and consumers

• The product perspective: How FinTechs can approach bank charters, lending licenses, bank partnerships and their various underlying legal structures and challenges as they evaluate how to engage with the U.S. government

• The importance that companies focus on “responsible innovation” via technological breakthroughs that maintain best practices and compliance • Analyzing the legal risks associated with the accelerated adoption of new payments solutions, such as contactless payments • What could have gone better? Where more innovation is needed now – and where the legislative hurdles lie

4 | #ACIFinTech

1:45

1:1 Networking 2:00 Break

twitter: @ACI_Finance linkedin: Financial Services – Legal, Regulatory and Compliance Professionals

FACULTY 2:15

CASE STUDY

OUR VIRTUAL PLATFORM

PRICING

AML RISKS WITH VIRTUAL CURRENCIES FOLLOWING THE ANTI-MONEY LAUNDERING ACT OF 2020 How Recent Developments Affect the Landscape for Cryptocurrencies and Digital Assets Market Participants Mandeep Walia Chief Compliance Officer and Head of Enterprise Risk Management Novi

Carlo Bruno Product Lead Identity Risk Adyen (Netherlands)

Adyen and GoFundMe are a case-in-point when it comes to working closely together to protect their products and customers from misuse. To achieve this, the two companies cooperate to develop a comprehensive profile of who their customers are, an explanation of their behavior, and an understanding of how payers inform seller risk. In developing this fuller understanding of who their customers are, Adyen and GoFundMe are able to understand customer risks more comprehensively and effectively mitigate those risks in a targeted manner. Topics will include: • Explaining the effective use of KYC and payment data to detect and understand anomalies • How to use network analysis to inform one’s approach towards efficient case management • Co-designing risk and compliance solutions to improve accuracy, increase “explainability”, and drive visibility 3:00

SPOTLIGHT ON INSTALMENT LENDING “Buy Now, Pay Later”: Deciphering the Legal Must-Knows of Instalment Payment Business Models and How to Effectively Communicate Rules to Your Customer Laurie Sellick Tauberg Senior Regulatory Counsel Affirm, Inc.

AGENDA

4:15

NEXT-GEN KYC AND CDD FOR A FULLER PICTURE OF CUSTOMERS VIA NETWORK ANALYSIS AND MACHINE-LEARNING How to Go Beyond the Four Corners to Truly Know Your Customer Based on Their Traditional KYC, Transactional Signals and Wider Digital Footprint Matthew Murray Risk & Compliance Manager GoFundMe

WEBINAR

Michelle Harold Chief Operating Officer Borrow Works

Barrie VanBrackle Partner Orrick, Herrington & Sutcliffe LLP • Disentangling the legal challenges with instalment lending • The role of banks and the legal implications of creating network-based solutions • How “traditional institutions” such as banks and card providers will need to adapt, innovate and forge new partnerships to keep apace with new FinTech market entrants and the latest technological developments 4:00 Break

AmericanConference.com/PaymentsFinTech • 888 224 2480

Jai R. Massari Partner Davis Polk & Wardwell LLP

Jeanine P. McGuinness Partner Orrick Herrington & Sutcliffe LLP Melissa G. Goldstein Special Counsel Schulte Roth & Zabel LLP

• How FinCEN’s proposed rule would change the legal requirements for certain transactions with convertible virtual currency (CVC) or digital assets with legal tender status (LTDA) • Anticipating the likely impact of the AMLA on the cryptocurrency industry and market, new entrants and companies’ existing plans to launch their own virtual currency (e.g., BlackRock) • Pinpointing the legal implications of the SEC’s announcement that banks can engage in crypto activities and launch their own digital currencies to exist alongside fiat currencies 5:00

Conference Day 1 Concludes

CASE STUDY WORKSHOP | 5:15 – 6:45 FEDERAL AND STATE LICENSING – COMPARE & CONTRAST A Walk-Through of the State Licensing Process for the Same Product or Service: Disentangling the Web of Differing Requirements and Regulations Krista Potter Assistant General Counsel & Senior Director, Product and Regulatory Affirm, Inc.

Lisa Liban Vice President and Assistant General Counsel, Regulatory Compliance Fiserv

Judith Rinearson Partner K&L Gates This hands-on workshop will trace, step-by-step, the process required in order for a company to obtain a license to offer its service or product in different states across the U.S. In the continuing absence of a uniform licensing regulatory framework at the federal level, our expert speakers will juxtapose the respective requirements of a selection of states that companies must fulfill in order to operate there. The session will allow you to identify and manage the intricacies and challenges with getting your product or service to market. Join us and gain an essential working knowledge of the licensing process in the U.S. Topics covered will include: • A step-by-step guide on how to obtain a license for the same product or service in states such as CA, NY, TX, and GA • With the rise of BNPL (buy now pay later), what are some of the various state licensing regimes to consider? • Developments in state regulation of consumer lenders and money transmitters • Industry developments in the licensing and examination processes • Monitoring future regulatory interpretations and developments

FACULTY

Day 2 – May 19, 2021(EDT)

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12:45 Break 1:00

11:00

Opening Remarks from the Co-Chairs 11:05

MAKING A FINTECH PARTNERSHIP WORK How to Minimize the Biggest Legal Pitfalls When Partnering with Banks, Credit Unions and Card Companies to Roll Out a Product or Service Tim Sullivan Legal Counsel Shopify

Samer M. Musallam Partner Ropes & Gray LLP

Smitha Mortis General Counsel Branch

Andrew J. Lorentz Partner Davis Wright Tremaine LLP

As the bundling of financial services products accelerates and continues on overdrive, this panel examines the potential for operational risk and legal challenges with FinTech partnerships. Topics discussed will include: • Examining the latest initiatives of the federal regulatory bodies governing the payments and FinTech industries: what strides are they making to foster innovation and update regulations to fit newer technologies? (FinCEN, FDIC, SEC, OCC, DOJ) • Assessing the latest activity of the CFPB Office of Innovation • Analyzing real-life examples and their legal challenges: Apple and Goldman Sachs • The latest updates regarding the OCC FinTech Charter and why it has not worked

FEDERAL V. (MULTI-)STATE REGULATION OF FINTECH COMPANIES: WHAT’S NEW, WHAT’S NEXT? Evaluating the Latest FinTech Regulation Efforts at the Federal and State Levels: The Must-Knows for B2Bs And B2Cs to Operate Nationwide Marina Gracias General Counsel Varo Bank

Laurel Loomis Rimon Partner O'Melveny & Myers LLP

Brian Crist Vice President of Payments, Legal eBay

Kathy Tomasofsky Director Money Services Business Association (MSBS)

• Evaluating recent state enhancements and innovations in FinTech regulation and the latest initiatives aimed at harmonizing and strengthening multi-state supervision • Analyzing whether under the Biden administration federal regulation of FinTech companies will change materially and discussing the administration’s view on supervision of non-bank FinTech companies • Assessing trends in government enforcement activity involving FinTech companies and whether they suggest companies may face more risk and complexity in the near term • A legal analysis of modifications to state money transmitter licensing requirements that have recently taken place • Legal status update on recent CFPB rulemaking

• Assessing the anti-trust risks of M&A and collaborations in the FinTech space • Examining regulatory agency initiatives designed to adapt to the current payments landscape and facilitate positive interactions between the regulators and FinTech start-ups

• Best practices for ensuring compliance with new and emerging mandates from the key federal agencies overseeing FinTech and payments

12:00

KEYNOTE (Please check the website for important speaker updates) 12:30

1:1 Networking

6 | #ACIFinTech

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FACULTY 2:00

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4:15

KEYNOTE

OPEN BANKING AND GLOBAL PERSPECTIVES ON THE U.S. FINTECH AND PAYMENTS INDUSTRY (Please check the website for important speaker updates)

DISENTANGLING THE MANY Ds OF PAYMENTS REGULATION FOR FINTECHS Debit, Durbin, Disclosures, Disputes, and Direct Deposits: A Comprehensive Analysis and Compliance Roadmap for Companies Speakers include:

2:30

MOVING BEYOND OPEN BANKING TO OPEN FINANCE Think-Tank on How to Overcome Complex Legal and Regulatory Hurdles to Achieve Open Finance in the U.S.: International Perspectives on “How to Make it Work” for Industry and Consumers John Pitts Policy Lead, Plaid (Former Deputy Assistant Director, Intergovernmental Affairs at Consumer Financial Protection Bureau, CFPB 2013-2018)

WEBINAR

George Parks Davie Senior Product Manager – Open Banking Klarna (Germany)

• Industry perspectives on what it will take to move from the current “regulatory sandboxes” for FinTechs in the U.S. to a system conducive to stimulating more innovation and better benefitting businesses’ bottom lines and their consumers • The legal implications for open banking platforms’ use of APIs (Application Program Interfaces) for financial institutions to communicate and move money around (“Venmo on steroids”) 3:15

1:1 Networking

David L. Beam Partner Mayer Brown LLP • What aspects of the prepaid rule continue to pose the greatest challenges for FinTech companies and how are they adapting two years after it took effect • What the U.S. might learn from Canada and its new prepaid card rules coming into effect in June 2021 • Complying with regulations governing investigations of consumer transaction disputes, and provisional crediting – without “breaking the bank” • How FinTech companies responding to PayPal’s initial win in its litigation against the CFPB • Recent developments with respect to the Durbin Amendment, including The Clearing House’s letter to the Fed • The scope of a financial institution’s obligation to fight benefits fraud—is it the FinTech’s responsibility, and how should it balance the rights of innocent customers? 5:00

THE INTRICACIES OF CONSUMER PRIVACY, PERSONAL DATA AND AVOIDANCE OF DISCRIMINATION The Legal Risks Associated with the Use of “Alternative Data” to Underwrite Credit: How to Maximize Your Customer Base While Ensuring Equal Lending

3:30 Break 3:45

Fireside Chat with a FinTech General Counsel Matt Brady General Counsel Point Hear from Matt Brady, General Counsel at Point Finance, Inc., on the trials and tribulations of developing the legal function at a growing FinTech. Point has developed a product that allows homeowners to access their home equity. Matt will discuss challenges many FinTechs face, including how to handle fundraising, regulators, and outside counsel. He will further provide his perspective on how a FinTech can develop a legal and compliance function, potential challenges faced by a small legal department, and how a legal function can be key part of a FintTech’s early success.

AmericanConference.com/PaymentsFinTech • 888 224 2480

Sheryl Ann Yamuder Global Chief Privacy Counsel Fiserv

Edward R. McNicholas Partner Ropes & Gray LLP

Robin McGrath Partner Duane Morris LLP

Jessica Sklute Special Counsel Schulte Roth & Zabel LLP

• A brief overview of recent changes to national and international data privacy and protection laws (e.g., CCPA) and their legal impact for FinTech companies • What the expansion of the CCPA means for FinTech and emerging payments companies operating outside of California • “Alternative data” and what the legal obligations are for companies to protect their customers’ privacy and personal data • Why and how the use of alternative data increases the risk of “discrimination”, and what companies can do to ensure equal lending • Key challenges faced by in-house counsel regarding international data transfers and the use of customer/consumer data being transferred across borders • Who owns the data? Addressing the debate around personal financial data ownership and portability: Assessing what the EU has done and what it means for the U.S. 5:45

Conference Concludes

FACULTY

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