Prepaid cards: how do they function? how are they regulated?

This conference, sponsored by the Payment Cards Center, brought together prepaid card industry leaders and regulators to discuss how various prepaid-card systems work and the ways in which different state and federal laws can affect them. The conference featured sessions on bank- and merchant-issued gift cards, payroll cards, and flexible spending account cards. It also featured presentations by experts on Regulation E, the Federal Deposit Insurance Act, state money transmitter laws, and state abandoned property laws.