Payroll cards can provide a lucrative opportunity for banks to generate steady deposits and fee income, but the numerous federal and state laws regulating these cards presents a daunting compliance challenge. Done right, payroll cards can provide a solution that benefits both employers and employees. Employers who utilize payroll cards benefit from reduced costs over paying their employees with paper checks. Employees – especially the unbanked – enjoy the convenience of receiving their pay on a prepaid debit card and avoiding the hassles and fees associated with check cashing services. This webinar navigates the challenges faced by payroll card issuers and employers when offering this valuable service.

In this webinar, we will explore:

  • Requirements for Payroll Cards under the Electronic Funds Transfer Act and Regulation E

  • Clarifications and new requirements effective in 2019 under the CFPB’s Prepaid Rule

  • Restrictions under the Fair Labor Standards Act

  • The Impact of State Wage Payment Laws

  • The status of the New York Department of Labor’s Payroll Debit Card Regulations

  • Best practices for Card Issuers and Employers

Date & TIme

Wednesday, December 12, 2018
12:00 PM - 1:00 PM ET

Moderator

Alan S. Kaplinsky
Practice Leader
Consumer Financial Services

Speaker(s)

Mark J. Furletti
Consumer Financial Services

Patricia A. Smith
Labor and Employment

Ronald K. Vaske
Consumer Financial Services

This program is open to Ballard Spahr clients and prospective clients. There is no cost to attend. This program is not eligible for CLE credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Daniel Martin at martind@ballardspahr.com.

Register