2400 E. Missouri Avenue
Phoenix, AZ 85016
Regulation and Risk Management Track
Tuesday, October 5, 2010
The issuers of ATM and debit cards are weathering a turbulent periods. New Regulation E requirements went into effect on July 1 for new accounts and August 15 for existing accounts, and the Durbin amendment will introduce another set of pricing changes. Under Reg E, ATM and one-time debit card overdraft fees are no longer assessable absent an affirmative consumer's consent. Prompted by public pressure to police bank fees, the legislatures and regulators now rigorously scrutinize service fees and charges and other terms for these products. In this session, we will explore these new regulatory and legislative developments, providing compliance guidance to clear sailing. Further, effective October 1, under a product called "Original Credit Transaction," Visa is requiring that all issuers of Visa debit and prepaid reloadable cards accept credit of funds, adding value to such cards. While sending of funds is optional, the receipt of funds is mandatory, as to issuers. This session will identify some of the regulatory and other issues this Visa initiative raises.
Prepaid cards are used by myriad companies and industries today, but prepaid is currently the topic of much discussion on Capitol Hill, and rules and regulations surrounding the products are changing. Executives from Parago and the Network Branded Prepaid Card Association are available to offer a timely presentation regarding the latest changes to prepaid and how it will and is effecting businesses utilizing prepaid, with a specific case study from the incentives and promotions industry that is utilizing prepaid. These executives can also share a best practices outline for offering the products responsibly within the new rules.
In this presentation Troy Leach will discuss current threat vectors and the security landscape as it relates to PCI, detail the PCI Security Standards lifecycle, highlighting the current period and discuss upcoming changes in the next revision of the standards. Hell also address events that have illustrated the tremendous implications that data breaches have in the financial services space. In this discussion, Mr. Leach, will share:
- What the Council and the Data Security Standard means to stakeholders in the payment chain
- Purpose of the Payment Application Data Security Standard (PA-DSS)
- Purpose of PIN Transaction Security (PTS)
- Ramifications and lessons learned from recent breaches worldwide
- How the Council engages industry stakeholders to reflect feedback from the marketplace
- How organizations can and are contributing
- How PCI SSC works to promote greater adoption of the standards