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June 13, 2012 Compliance Overview: Gift Card, Promotional Card, and Incentive Card Program PowerPoint Presentation
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National Restaurant Association. June 13, 2012 Compliance Overview: Gift Card, Promotional Card, and Incentive Card Program. About Card Compliant.

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Presentation Transcript
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National Restaurant Association

June 13, 2012

Compliance Overview:

Gift Card, Promotional Card, and Incentive Card Program

about card compliant
About Card Compliant

Card Compliant, based in Kansas City, is a compliance specialty company serving the prepaid access and card industries. It addresses niche subjects, providing technology-supported solutions to the regulatory, legal and accounting challenges encountered in card programs. It engineers compliance at the design, implementation, and operational phases of a card program to enhance program value and reduce noncompliance risk. Solutions combine patent-pending technologies and business methods implementing compliance on a per card basis. Visit Card Compliant at www.cardcompliant.com.

introductions
Introductions
  • Overview
  • Questions
regulatory challenge
Regulatory Challenge

Regulation Complexity

Escheat Statutes: 50 States

Consumer Statutes: Federal and 50 States

AML: Federal Anti-Money Laundering Rules, OFAC

Licenses: Federal (FinCEN) and States (Money Transmitter)

Privacy: Federal and some States

Income Tax: Special IRS Rules on Tax Recognition

Income Tax: Special IRS 1099 Requirements

Activity Taxes: 5 States

GAAP Accounting: US and International Standards

SEC: Earnings Recognition Rules

The Feds The States

FED FTC CFPB IRS Attorney General

FinCEN Treasurer

agenda
Agenda
  • 5 Topic Areas
    • Consumer Protection Laws
    • Unclaimed Property Laws
    • Income Tax Regulations
    • GAAP Accounting Standards
    • Anti-Money Laundering Regulations
  • Ten Current Hot Compliance Issues
consumer protection laws
Consumer Protection Laws
  • Regulators
    • State Laws
    • The Federal Reserve
    • FTC
    • CFPB
  • Fees
  • Expiration Dates
  • Cash Back
  • Disclosures
unclaimed property laws
Unclaimed Property Laws
  • Regulators
    • State Laws
  • Restaurant Solutions
income tax
Income Tax
  • Regulators
    • IRS
  • Taxation upon Load
  • 1 Year and 2 Year Deferrals
  • Impact of Escheat Solutions
gaap accounting standards
GAAP Accounting Standards
  • Regulators
    • FASB
    • IASB
    • SEC
  • GAAP Rules
  • Derecognizing Card Breakage
anti money laundering aml regulation
Anti-Money Laundering (AML) Regulation
  • Regulators
    • FINCEN
  • New FinCEN Regulation
  • Closed Loop Exemption
current hot compliance issues
Current Hot Compliance Issues
  • New Jersey Escheat
  • Colorado Escheat
  • Cash Back
  • Expiration Dates on Promotional Cards
  • FinCEN Update
  • FinCEN and Your B2B Cards
  • FASB Guidance
  • Taxed Incentive Cards
  • Personally Identifiable Information
  • Consumer Financial Protection Bureau
conclusion
Conclusion

The webinar is complete. Thank you for attending.

Card Compliant is proudly endorsed by the NRA and has maintained a strong partnership for several years.

For additional information on optimized compliance solutions, please contact Card Compliant at 913-871-7430