Rinearson Outlines Impact of Dodd-Frank Wall Street Reform Act

The Dodd-Frank Wall Street Reform of 2010 (the DFA), which was signed into law as a means to address some of the most notorious causes of the recent “Great Recession,” was mostly aimed at banks and Wall Street; however it also has been extended to encompass some aspects of the prepaid card industry. New York Partner Judith Rinearson authored an in-depth article in the August edition of Paybefore Update explaining the impact of the act on the prepaid card industry.

“Although much of the DFA has little to do with prepaid cards, it includes provisions with which the entire prepaid value chain must be familiar – because all will be subject to new requirements that will affect their current business operations,” Rinearson writes.

Rinearson is a recognized authority in the areas of payment systems, electronic payments, stored value, travelers’ checks and check processing. She has more than 20 years of experience in the financial services industry, particularly in the areas of non-bank money services and payment products. Her experience also encompasses smart cards, “virtual” and RFID (radio frequency ID) products. Rinearson is a frequent lecturer on stored value regulation.