1 / 12

June 13, 2012 Compliance Overview: Gift Card, Promotional Card, and Incentive Card Program

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

hateya
Download Presentation

June 13, 2012 Compliance Overview: Gift Card, Promotional Card, and Incentive Card Program

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. National Restaurant Association June 13, 2012 Compliance Overview: Gift Card, Promotional Card, and Incentive Card Program

  2. 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.

  3. Introductions • Overview • Questions

  4. 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

  5. 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

  6. Consumer Protection Laws • Regulators • State Laws • The Federal Reserve • FTC • CFPB • Fees • Expiration Dates • Cash Back • Disclosures

  7. Unclaimed Property Laws • Regulators • State Laws • Restaurant Solutions

  8. Income Tax • Regulators • IRS • Taxation upon Load • 1 Year and 2 Year Deferrals • Impact of Escheat Solutions

  9. GAAP Accounting Standards • Regulators • FASB • IASB • SEC • GAAP Rules • Derecognizing Card Breakage

  10. Anti-Money Laundering (AML) Regulation • Regulators • FINCEN • New FinCEN Regulation • Closed Loop Exemption

  11. 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

  12. 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

More Related