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Bank Regulatory Concerns with Peer-To-Peer (P2P) Payment Services: Zelle, Venmo and other Applications

Gain insight into key regulatory issues within the different P2P services with regard to bank operations and potential bank liability.This topic will provide an overview of major person-to-person (P2P) payment services currently available in the marketplace, including bank-partner P2P services (Zelle, PopMoney) as well as standalone P2P services (Venmo and Google Pay) that still create transactions to accounts. You will learn about key regulatory issues and also discuss issues of error and fraud resolution within the different P2P services with regard to bank operations and potential bank liability. Finally, this information will highlight some key contractual provisions in bank-partner P2P services, and will discuss the potential impacts of real-time payments on P2P services.
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of Major P2P Payment Services
  • Zelle
  • Popmoney (Fiserv)
  • Google Pay
  • Venmo (Paypal)
Regulatory Issues and Considerations
  • Banking Regulations and Money Transfer Regulations
  • Electronic Funds Transfer (EFT) Act and Regulation E
  • UDAP (FTC) and UDAAP (CFPB) Issues
  • CFPB Prepaid Rule and Application to P2P Platforms
  • BSA/AML and OFAC Considerations
Fraud Issues and Considerations
  • Error Resolution
  • Unauthorized or Fraudulent Transaction Resolution
  • Future of P2P and Real-Time Payments
Contractual Considerations for Direct Bank Partner P2P Services
  • Complaint and Data Sharing
  • Marketing
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Erin Fonte

Erin Fonte

Hunton Andrews Kurth LLP

  • Partner and co-head of Hunton Andrews Kurth’s Financial Institutions Corporate and Regulatory practice group
  • Resident in the firm’s Austin office, where she assists clients with a broad range of matters related to FinTech, payments/payment systems, digital commerce, banking and financial services, and related regulatory and compliance matters
  • Practice also has an increasing emphasis on blockchain, artificial intelligence, Big Data and connected devices/Internet of Things issues related to financial services
  • Frequently writes and speaks on FinTech, payments and privacy/data security issues and you can follow her on Twitter: @PaymentsLawyer
  • J.D. degree, with distinction, Phi Beta Kappa, Stanford Law School; B.A. degree, with honors, The University of Texas at Austin
  • Can be contacted at 512-542-5011 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406551
Published 2019
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