Payment Instruments and Pre-Paid Cards

The Payment Instrument and Pre-Paid Card practice group at the law firm has extensive experience with regulatory compliance of payment instruments and pre-paid cards. Our experience encompasses all aspects of the implementation and management of payment and prepaid card programs, including:

  • Federal and state regulatory compliance
  • Federal and state lobbying and legislative efforts
  • Consumer protection
  • Unclaimed property
  • Anti-money laundering
  • Money transmission
  • Privacy
  • Electronic funds
  • Virtual payment and pre-paid cards
  • Management of breakage and slippage
  • Legal related accounting matters
  • Vendor contracts
  • Bank sponsor agreements
  • Third-party distributor contracts
  • Related business transactions

Our attorneys have represented all segments of the industry, including:

  • State and federal banks and financial institutions
  • National, regional and local retail chains
  • Online retailers
  • Industry organizations

Our expertise allows you to navigate an increasingly complex array of state and federal regulations and incorporate compliance management techniques into your payment instrument and prepaid card programs.

Project Experience

  • Program Regulatory Management: Designed and managed regulatory compliance systems for over 500 programs in the United States, Canada and Europe.
  • Industry Innovation: Served as attorneys for industry innovators, such as Groupon, Card Compliant and Store Financial Services.
  • Legislative Projects: Been retained to present information or comment upon numerous proposed statutes and regulations, such as the Credit CARD Act of 2009, the Durbin Amendment, FinCEN regulations and numerous state and provincial regulations.
  • Industry Standards: Worked on several standards used in the payment and pre-paid card industries, such as the standards for derecognizing pre-paid card and payment liabilities set by the Financial Accounting Standards Board and the International Accounting Standards Board.
  • Litigation Support: Served as direct and special counsel with respect to litigation matters in the payments and prepaid card industry.

To learn more about how our Payment Instrument and Pre-Paid Card practice group can help your business, please contact:

Phillip (Chuck) Rouse:
crouse@dfrglaw.com

Elish Meyers:
lmeyers@dfrglaw.com

Adrienne Joyner:
ajoyner@dfrglaw.com