Curriculum

On January 25, 2018, the BCFP issued the long anticipated final rule to create comprehensive consumer protections for prepaid accounts under Regulation E, Regulation  Z, and the official interpretations to those regulations. The final rule, which becomes effective April 1, 2019, introduces significant new disclosure requirements for prepaid accounts and creates tailored provisions governing error resolution, periodic statements and overdraft credit features.  

This payments webinar will provide a comprehensive review of the new prepaid card rules, as well as operational considerations for meeting compliance requirements

Attendees to this banking webinar will learn:

  • The types of accounts covered and excluded under the final rule
  • Pre-acquisition and access device disclosures
  • Requirements for change-in-terms notices
  • Error resolution and requirements for use of modified notices
  • Specific requirements related to prepaid account agreements
  • Overdraft credit requirements and restrictions
  • Regulation E requirements that apply to issuers of prepaid accounts
  • Practical considerations and expert guidance to help understand, implement and comply with the new rules
 

Instructor

  • Dena Somers

    Dena Somers

    Esq / Founder finreg PARTNERS


    Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.

Credits

1.0 CPE Credits