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OnDemand Course

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.

90 minutes
Certificate of Completion
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Why Lorman?

Over 34 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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Why Lorman?

Over 34 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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 19, 2019.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

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Why Lorman?

Over 34 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 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 406551
Published 2019
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