Early Bird Registration Deadline: September 30, 2009!

NCCOs will receive 1.5 continuing education units for participation.

On July 15, 2009, the Federal Reserve Board announced its approval of interim final rules to implement the CARD Act provisions with an August 20, 2009 effective date. The interim final rules amending Regulation Z adopt the CARD Act provisions:

• Prohibiting creditors from treating payments as late or from imposing additional finance charges relating to a grace period unless statements are mailed 21 days in advance of the payment due date and any grace period expiration date;
• Requiring card issuers to give 45-day advance notice of rate increases or significant changes; and
• Requiring issuers to provide cardholders with the right to cancel the account before the effective date of rate increase or a significant change.

On Tuesday, September 29, 2009 the Federal Reserve Board issued proposed rules to implement provisions of the CARD Act that are scheduled to go into effect in February 2010 and  the compliance date could possibly be moved up to December 1, 2009.  Some of the topics that will be discussed include:
 

• Transitional rules and implementation timing;
• Periodic statement changes;
• Impact of the rules on issuers;
• Possible operational changes that balance compliance with the realities of business; and
• Overview of other related regulatory developments.

Speakers:

Obrea O. Poindexter
Of Counsel, Morrison & Foerster LLP, Washington D.C. Office

Ms. Poindexter’s practice focuses on financial services law. Her practice includes advising clients on: financial privacy issues relating to the Gramm-Leach-Bliley Act and the Fair Credit Reporting Act; consumer lending issues under the Truth in Lending Act and the Equal Credit Opportunity Act; electronic banking and payment system issues under the Electronic Funds Transfer Act (Regulation E) and the E-SIGN Act and other issues, including Internet taxation, bankruptcy reform and Internet gambling. Prior to joining Morrison & Foerster, Ms. Poindexter was a staff attorney for five years at the Board of Governors of the Federal Reserve System in the Division of Consumer and Community Affairs, where she focused on issues relating to electronic banking, privacy, and consumer lending and leasing.

Oliver I. Ireland
Partner, Morrison & Foerster LLP, Washington D.C. Office

Mr. Ireland’s practice focuses primarily on retail financial services including electronic commerce, compliance with Federal Reserve regulations, including Regulations Z and E, compliance with the Gramm-Leach-Bliley Act privacy provisions, the Fair Credit Reporting Act, E-SIGN, the U.S. PATRIOT Act and telemarketing rules. His practice also includes all types of payment transactions, including compliance with NACHA rules, bank regulatory issues and other aspects of financial markets such as margin lending.

Moderated by Jerome E. Bruce, CEM, CMP
Senior Manager of Sponsorship & Events, Events & Education, NAFCU

Who Should Participate:

Archived webcasts are available for up to 6 months after the live broadcast and are included in the registration fee. If you are unable to participate in the live webcast, purchase the archived version before the early registration deadline and save $100!

Note: A $50 fee applies to all cancellations. Registrations must be cancelled by
October 5, 2009.

Broadcast live from NAFCU's Headquarters in Arlington, VA.