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Program Details

Digital Wallets, Mobile Payments and the CFPB's Prepaid Proposal

Content Partner:  West LegalEdcenter
Price: $195.00*
This program is no longer available.

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On December 23, 2014, the Consumer Financial Protection Bureau (CFPB) published its long-awaited proposal to regulate prepaid cards (the “Proposed Rule”). The Proposed Rule is expansive in scope and would regulate as “prepaid accounts” certain digital wallet products, person-to-person (P2P) payment functionality and potentially person-to-business (P2B) payment products.  The Proposed Rule would amend key provisions of the CFPB’s Regulation E and Regulation Z, mandate extensive disclosures, establish error resolution procedures and limitations on consumer liability for unauthorized transactions, and apply provisions of Regulation Z applicable to open-end credit transactions to overdraft services and so-called “credit features” or “credit plans” that may be associated with prepaid card accounts.  
Please join us for a webinar discussion on the CFPB’s Proposed Rule and how it could apply to digital wallet products and mobile payment platforms.  Speakers will provide an overview of the Proposed Rule, which will cover:
The proposed definition of “prepaid account,” including the proposed coverage of digital wallets and P2P payment products, as well as potential carve-outs from those definitions;
The extensive disclosure requirements detailed in the Proposed Rule, how such disclosure requirements would apply to prepaid accounts acquired through the Internet or on mobile devices, and whether E-SIGN Act requirements may apply; and

Understanding FINTECH and Banking Law: A Practical Guide
Potential new mandates for providing consumers with access to prepaid account information and the impact such mandates could have on mobile payment product innovation and the delivery of account information.

Practice Areas: Banking & Finance Law, Corporate & Securities
Online Media Type: Audio
Production Date: 07/15/2015 12:00 PM EDT
Level: Intermediate
Category: Standard
Duration: 1 Hours, 0 Minutes
Online Format: Live

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Purchase of this product provides online access for 180 days. If you are purchasing a live webcast, you will receive complimentary access to the on demand version for 180 days once it becomes available. Please note that the on demand and podcast versions may, or may not be accredited in your state.

If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance.  Credit totals for other formats are for complete programs.  Partial credit is not available for any online or downloadable format. 


West LegalEdcenter will not provide accreditation for states not listed. 

This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing

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Total Credits: 1
Specialty Credits: 
Status: Reciprocal Credit Available
Expiration: N/A
Training Type: Online

West LegalEdcenter provides accreditation as described here. You may be able to self apply for credits in states not listed.

Check your state requirements and get contact information.
Obrea Poindexter - Partner - Morrison & Foerster LLP, Washington D.C.
Jeremy Mandell - Associate - Morrison & Foerster LLP, Washington D.C.
This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.

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