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Judith E. Rinearson

Partner

, Bryan Cave LLP
New York

Tel

1 212 541 1135

Fax

1 212 541 1385
judith.rinearson@bryancave.com
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Judith E. Rinearson

Partner


New York



1290 Avenue of the Americas
New York, New York 10104-3300

Phone:

1 212 541 1135

Fax:

1 212 541 1385

email:

judith.rinearson@bryancave.com

Judith Rinearson is a partner at Bryan Cave LLP. Ms. Rinearson is a recognized authority in the areas of prepaid and emerging payment systems, electronic payments, crypto/virtual currencies, reward programs, ACH and check processing. She has more than 25 years of experience in the financial services industry, particularly in the areas of compliance with state and federal consumer protection laws, anti-money laundering laws, state money transmitter licensing laws and abandoned property laws.

Prior to her tenure at another New York law firm, Ms. Rinearson was group counsel for the American Express Global Travelers Cheque and Prepaid Services Group for more than 10 years. Under her legal guidance, American Express launched a range of stored value cards and products, including phone cards, gift cards, mall cards and expense management cards. Her experience also encompasses smart cards, “virtual” and radio frequency ID (RFID) products as well as an extensive range of reward, loyalty and incentive products.

Fully experienced in both the “issuing” and “acquiring” side of the payments business, Ms. Rinearson has drafted and negotiated complex agreements with strategic co-branded partners, processors and Independent Sales Organizations (ISOs), ATM networks, major retailers and service providers, prepaid card issuers and program managers, international remittance companies, virtual and mobile payment providers, as well as the Terms and Conditions and disclosures that usually accompany such products. She has hands-on experience in all legal aspects of launching and managing a range of payment products, from prepaid cards of all kinds, to Bitcoin exchanges and miners, wire transfer services, ACH, electronic banking, money orders and credit cards. Her practice includes advising on fraud avoidance and compliance with federal banking and anti-money laundering laws, as well as state money transmitter licensing laws, consumer protection laws and abandoned property laws. On the international level, Ms. Rinearson has supervised the launch of a range of payment and foreign currency products in Europe, Asia and Latin America; met with international regulators; and spoken on the issue of payment regulation.

Ms. Rinearson is Regulatory Counsel for the Network Branded Prepaid Card Association (NBPCA) and serves as Chair for the Association’s Government Relations Working Group. She also represents the NBPCA at the Bank Secrecy Act Advisory Group (BSAAG) in Washington and serves on the BSAAG Stored Value Subcommittee. She chaired for two years and is currently a contributor to the Payment Card Fraud Task Force for the American Bar Association’s Cyberspace Law Committee.

Ms. Rinearson has co-chaired the American Conference Institute’s National Forum on Payment Systems in New York City three times. In March 2008, she was honored with an Industry Achievement Award from the 2008 Prepaid Card Expo for her contributions as a pioneer in the prepaid card industry and her particular influence in the regulation of prepaid cards.

She has also given numerous presentations about payment regulations at meetings held by the Federal Reserve Banks of Philadelphia and Chicago, the Conference of State Bank Supervisors (CSBS),  the Electronic Funds Transfer Association, Forum Europe, NACHA, and at annual meetings of the Money Transmitter Regulators Association, American Bar Association and the National Association of Unclaimed Property Administrators. In 2013, among other things, Ms. Rinearson presented at the Prepaid International Forum outside London regarding U.S. payment laws; moderated a panel at Money2020 regarding state money transmitter licensing issues; and trained bank examiners regarding prepaid cards and emerging payments including crypto-currencies such as Bitcoin, Litecoin and Ripple. More recently, she testified at the January 2014 Virtual Currency Hearings before the New York State Department of Financial Services regarding regulation of virtual and crypto currencies. This hearing was widely followed and is available for viewing online: http://www.youtube.com/watch?v=4OEJiWhCOEk.

Professional Affiliations

  • American Bar Association – Business Law Section, Law of Cyberspace Subcommittee, Chair of the Payment Card Fraud Task Force (2009-2010), Chair of the Electronic Financial Services Subcommittee (2005-2008)

Judith Rinearson is a partner at Bryan Cave LLP. Ms. Rinearson is a recognized authority in the areas of prepaid and emerging payment systems, electronic payments, crypto/virtual currencies, reward programs, ACH and check processing. She has more than 25 years of experience in the financial services industry, particularly in the areas of compliance with state and federal consumer protection laws, anti-money laundering laws, state money transmitter licensing laws and abandoned property laws.

Prior to her tenure at another New York law firm, Ms. Rinearson was group counsel for the American Express Global Travelers Cheque and Prepaid Services Group for more than 10 years. Under her legal guidance, American Express launched a range of stored value cards and products, including phone cards, gift cards, mall cards and expense management cards. Her experience also encompasses smart cards, “virtual” and radio frequency ID (RFID) products as well as an extensive range of reward, loyalty and incentive products.

Fully experienced in both the “issuing” and “acquiring” side of the payments business, Ms. Rinearson has drafted and negotiated complex agreements with strategic co-branded partners, processors and Independent Sales Organizations (ISOs), ATM networks, major retailers and service providers, prepaid card issuers and program managers, international remittance companies, virtual and mobile payment providers, as well as the Terms and Conditions and disclosures that usually accompany such products. She has hands-on experience in all legal aspects of launching and managing a range of payment products, from prepaid cards of all kinds, to Bitcoin exchanges and miners, wire transfer services, ACH, electronic banking, money orders and credit cards. Her practice includes advising on fraud avoidance and compliance with federal banking and anti-money laundering laws, as well as state money transmitter licensing laws, consumer protection laws and abandoned property laws. On the international level, Ms. Rinearson has supervised the launch of a range of payment and foreign currency products in Europe, Asia and Latin America; met with international regulators; and spoken on the issue of payment regulation.

Ms. Rinearson is Regulatory Counsel for the Network Branded Prepaid Card Association (NBPCA) and serves as Chair for the Association’s Government Relations Working Group. She also represents the NBPCA at the Bank Secrecy Act Advisory Group (BSAAG) in Washington and serves on the BSAAG Stored Value Subcommittee. She chaired for two years and is currently a contributor to the Payment Card Fraud Task Force for the American Bar Association’s Cyberspace Law Committee.

Ms. Rinearson has co-chaired the American Conference Institute’s National Forum on Payment Systems in New York City three times. In March 2008, she was honored with an Industry Achievement Award from the 2008 Prepaid Card Expo for her contributions as a pioneer in the prepaid card industry and her particular influence in the regulation of prepaid cards.

She has also given numerous presentations about payment regulations at meetings held by the Federal Reserve Banks of Philadelphia and Chicago, the Conference of State Bank Supervisors (CSBS),  the Electronic Funds Transfer Association, Forum Europe, NACHA, and at annual meetings of the Money Transmitter Regulators Association, American Bar Association and the National Association of Unclaimed Property Administrators. In 2013, among other things, Ms. Rinearson presented at the Prepaid International Forum outside London regarding U.S. payment laws; moderated a panel at Money2020 regarding state money transmitter licensing issues; and trained bank examiners regarding prepaid cards and emerging payments including crypto-currencies such as Bitcoin, Litecoin and Ripple. More recently, she testified at the January 2014 Virtual Currency Hearings before the New York State Department of Financial Services regarding regulation of virtual and crypto currencies. This hearing was widely followed and is available for viewing online: http://www.youtube.com/watch?v=4OEJiWhCOEk.

Bar and Court Admissions

New York, 1982

United States Supreme Court

United States District Courts for the Eastern and Southern Districts of New York

Education

New York University, J.D., 1981

Smith College, B.A., 1975

Publications

  • "Virtually Regulated: Can Regulation Save Bitcoin?" AFP Exchange (April 2014)
  • “Will Prepaid Thrive as ‘Year of the Tiger’ Gives Way to ‘Year of the Rabbit’?” Paybefore Legal (January 2011)
  • “Lessons Learned from the CARD Act - Preparing for the Next Wave” 22nd Annual Card Forum & Expo Presentation (May 2010)
  • “Developments in the Regulation of Prepaid Products Under State Money Transmitter Licensing Laws,” Business Lawyer (November 2009)
  • “The Blind Men and the Elephant:  Why AML Regulation for Network Branded Cards Is So Difficult,” Paybefore.com (October 2009)
  • “US Regulations Springing a Surprise with Opinion No.8,” IQ Global Legal Report (December 2008).
  • "Keeping Payments Laws Simple," Cards & Payments (October 2008)
  • “Getting your Just Rewards - A Proposal for the Treatment of Prepaid Rewards Cards under State Abandoned Property and Consumer Protection Laws” (co-authored) Journal of Payment Systems Law (November/December 2007)
  • “Viewpoint:  Sometimes Fraud is ‘Just’ Fraud” (co-authored) Paybefore.com (October 2007).
  • “The Next New Thing: Mobile Payments” Journal of Payment Systems Law (July/August 2007)
  • “Prepaid Cards: Coming of Age,” Standard & Poor’s Review of Banking & Financial Services (April 2006)
  • “Electronic Payments The Perils of Third Party Distribution Arrangements,” Journal of Payment Systems Law (January 2006)
  • “Electronic Payments Risks: Identity Thefts and the Legislative Response, plus New AML Exam Guidelines from the FFIEC,” Journal of Payment Systems Law (July 2005)
  • “When the Going Gets Tough:  Under Increased Scrutiny, Banks are Dropping Their Money Services Business Customers and Regulators are Showing Concern,” Journal of Payment Systems Law (May 2005)
  • “Regulation of Electronic Stored Value Payment Products Issued by Non-Banks Under State ‘Money Transmitter’ Licensing Law,” The Business Lawyer (November 2002)

Speeches and Seminars

  • Virtual Currency Hearings, New York State Department of Financial Services, January 2014

  • "Federal Regulatory and Enforcement Roundtable and Industry Response: Insights on the Latest Initiatives, Compliance Obligations and Fraud Risk and Schemes," Prepaid Card Compliance Forum, January 2014

  • "Life After Regulation II," Prepaid, Mobile & Emerging Payment Systems Compliance Summit, November 2013
  • "Money Transmitter Licensing: Kafka Revisited," Money2020, October 2013
  • "Preparing for the Prepaid Regulatory Exam Process," NBPCA Prepaid Webinar, September 2013
  • "Firsthand Insights into the Perspectives and Priorities of Federal Regulatory Agencies with Oversight on Prepaid," NBPCA's Power of Prepaid, June 2013
  • "Year in Review," Prepaid and Emerging Payments Team Webinar, February 2013 and 2012
  • "Legal and Regulatory Considerations of Emerging Payments," Money2020 Expo, October 2012
  • "First Quarter Developments in the Ever Changing Landscape of Privacy and Data Security," Bryan Cave Webinar, April 2012
  • "Dodd-Frank, the CFPB, the Durbin Amendment, FCC Involvement and More: Preparing for the Evolving Federal Regulatory Paradigm and Its Impact on Emerging Payment Systems," American Conference Institute's 2nd Annual Practical, Legal and Compliance Forum on Balancing Innovation with Consumer Protection in Emerging Payment Systems, September 2011
  • "The Durbin Amendment: What Does Regulation II - the Final Ruling - Mean for Prepaid?" Bryan Cave Webinar, August 2011
  • “What’s on the Regulatory Horizon: How to Best Protect Your Business Over the Next Year,” Prepaid Expo, March 2011
  • “The Durbin Amendment: Impact on Debit, Credit and Prepaid,” BAI Webinar, December 2010
  • "Managing Privacy and Data Security Risks in the Emerging Payment Landscape," American Conference Institute's Forum on Emerging Payment Systems," November 2010
  • “Keeping Pace with the Evolving State Regulatory and Enforcement Framework Regarding Prepaid Products,” ACI Prepaid Compliance Conference,June 2009
  • "Cyberspace Law: New Growth in Payment Card Fraud," American Bar Association Annual Meeting, August 2008
  • "Federal Regulatory and Enforcement Frameworks: Updates and Perspectives," American Conference Institute's Prepaid Card Compliance Conference, June 2008
  • "Gift Certs, Cards, SVCs, Payroll Cards, Rebates, Coupons," Unclaimed Property Professionals Organization Annual Education Conference, March 2008
  • "Tactics for Remaining in Compliance with Legal and Regulatory Rules," 2008 Prepaid Card Expo, March 2008
  • "The Disorderly Present and Uncertain Future of Payments Law," New York City Bar Association, March 2008
  • "The Regulatory, Legal and Security Factors," PELORUS Group's Open vs. Closed Loop Stored Value Conference: Ratcheting Up The Competition, December 2007
  • "New Money Laundering Techniques," Department of Justice's Advanced Money Laundering Seminar, September 2007
  • "Legal and Financial Challenges Facing the Mobile Payments Industry," M-Payments & M-Banking: The Rise of Mobile Financial Services, June 2007
  • "Current State of Payments Law," National Symposium at Federal Reserve Bank of New York, April 2007
  • "Ensuring Compliance with Recent Developments Related to Regulation E," American Conference Institute's 3rd National Forum on Payment Systems, April 2007
  • "Navigating the Legal and Regulatory Minefield of Network Branded Prepaid Cards" and "Legal, Regulatory and Compliance," 2007 Prepaid Card Expo, February 2007
  • "Regulatory, Legal and Compliance Issues Affecting Prepaid Cards Targeted to the Unbanked and Underserved" and "Regulatory, Legal and Compliance Issues Applicable to the Prepaid Card Category," 2006 Prepaid Card Expo, February 2006

Professional Affiliations

  • American Bar Association – Business Law Section, Law of Cyberspace Subcommittee, Chair of the Payment Card Fraud Task Force (2009-2010), Chair of the Electronic Financial Services Subcommittee (2005-2008)