Payment Cards Center Events

2008 Conferences

Maintaining a Safe Environment for Payment Cards: Examining Evolving Threats Posed by Fraud

On April 23-24, 2008, the Payment Cards Center and the Electronic Funds Transfer Association (EFTA) co-hosted a conference, “Maintaining a Safe Environment for Payment Cards: Examining Evolving Threats Posed by Fraud.” The conference was designed to extend the dialogue that began at the September 2006 conference “Information Security, Data Breaches, and Protecting Cardholder Information: Facing Up to the Challenges.” One insight from the September conference was that meeting the challenges presented in making card data secure requires improved collaboration and communication among all parties in the card payments system: cardholders, issuers, acquirers, merchants, and the payment networks. The goal of the April 2008 conference was to build on that discussion and develop new insights into how technologies, common standards, balanced incentives, and other factors can be developed to better manage fraud risks and limit damages across the payment system.

• Conference Agenda (191 KB, 4 pages)

2007 Conferences

Recent Developments in Consumer Credit and Payments

On September 20-21, 2007, the Payment Cards Center and the Research Department of the Federal Reserve Bank of Philadelphia co-sponsored the fourth in a series of joint research conferences focusing on important issues in consumer credit and payments. The discussion brought together academic scholars and industry experts to present and discuss the latest research on these topics. The conference included both theoretical and empirical papers.

• Conference Agenda with Links to Papers
• Conference Summary (152 KB, 7 pages)

Payments, Credit, and Savings: The Experience for LMI Households

On May 21-22, 2007, the Payment Cards Center and the Community Affairs Department hosted a conference, titled “Payments, Credit, and Savings: The Experience for LMI Households,” motivated by research from the 2005-2006 Detroit Area Study (DAS) and shared by lead investigator Michael Barr of the University of Michigan Law School. The event brought together individuals from the financial services industry, the academic community, consumer and community development organizations, and federal and state policy-making agencies to consider how changes in the financial services market or in banking policy may better serve LMI households’ financial needs when making payments, accessing credit, and setting aside savings.

• Conference Agenda (331 KB, 4 pages)
• Conference Summary (273 KB, 26 pages)

2006 Conferences

Information Security, Data Breaches, and Protecting Cardholder Information: Facing Up to the Challenges

On September 13-14, 2006, the Payment Cards Center and the Electronic Funds Transfer Association (EFTA) co-hosted a conference designed to generate a discussion among industry and policy leaders on data breaches and how to deal with any resulting compromised consumer information. The conference addressed two specific questions. First, what can be done to more effectively ensure data security throughout the entire payments chain? Second, what are the appropriate actions that should be taken to protect consumers and mitigate risks associated with any compromised data? Finally, the conference attempted to place the various elements identified in these discussions into the emerging legal and regulatory framework. The goal of the conference was to incorporate the insights and individual perspectives of conference participants into a framework that can help inform industry practices and public policy.

• Conference Agenda (255 KB, 6 pages)
• Conference Summary (479 KB, 22 pages)

The Role of Electronic Payments in Disaster Recovery: Providing More Than Convenience

On May 3-4, 2006, the Payment Cards Center hosted a two-day conference titled “The Role of Electronic Payments in Disaster Recovery: Providing More Than Convenience.” The event brought together participants from a range of groups, including financial institutions and other financial service providers; federal and state government and national relief agencies; and the bank regulatory community. Participants examined the lessons learned from Hurricane Katrina and considered how these experiences may be useful in identifying opportunities to further strengthen the financial system’s response to future catastrophic events.

• Conference Agenda (141 KB, 4 pages)
• Conference Summary (248 KB, 24 pages)

2005 Conferences

Recent Developments in Consumer Credit and Payments

On September 29-30, 2005, the Payment Cards Center and the Research Department of the Federal Reserve Bank of Philadelphia co-sponsored a conference entitled “Recent Developments in Consumer Credit and Payments.” This conference brought together industry experts and academic researchers to discuss relevant work on the important and timely subject of consumer credit and payments. Seven papers were selected for presentation. These papers examine various aspects of this topic, including consumer bankruptcies, consumers and future borrowing, loan repayment, and predatory lending.

• Conference Agenda with Links to Papers
• Conference Summary (188 KB, 9 pages)

Payment Cards and the Unbanked: Prospects and Challenges

On July 13-14, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a conference to better understand the ways in which electronic payment tools are being adapted to meet the financial needs of underserved consumers. This event, “Payment Cards and the Unbanked: Prospects and Challenges,” brought together a range of perspectives from the banking industry, community development arena, academic community, and regulatory groups, as well as providers of new and emerging payment technologies. These participants examined the opportunities and challenges in providing financial tools that are less costly than those offered in the alternative financial sector — check cashers, money transmitters, payday lenders, and the like — but that, at the same time, meet the financial needs of underserved consumers and are economically viable for traditional and emerging providers.

• Conference Agenda (160 KB, 4 pages)
• Conference Summary (310 KB, 23 pages)

Risky Business: Managing Electronic Payments in the 21st Century

On June 20-21, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Funds Transfer Association (EFTA) hosted a senior-level conference focusing on risk management in electronic payment systems. The conference, “Risky Business: Managing Electronic Payments in the 21st Century,” examined important issues related to risk management and fraud prevention in electronic payments. Over the course of two days, 30 speakers provided critical analysis on a number of headline issues, including identity theft, data security, terrorist financing, money laundering, Internet fraud, and information security regulation.

• Conference Agenda (24 KB, 2 pages)
• Conference Summary (770 KB, 32 pages)

Federal Consumer Protection Regulation: Disclosures and Beyond

On Friday, June 10, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a one-day symposium on consumer protection entitled "Federal Consumer Protection Regulation: Disclosures and Beyond." The event brought together legal scholars, federal banking regulators, and industry experts from the largest credit card issuers in the U.S. to discuss standardized credit card disclosures and other means of protecting credit card consumers.

• Conference Agenda (111 KB, 4 pages)
• Conference Summary (392 KB, 24 pages)

2004 Conferences

Forum on Validation of Consumer Credit Risk Models

On November 19, 2004, the Payment Cards Center and Wharton’s Financial Institutions Center co-sponsored a conference, "Forum on Validation of Consumer Credit Risk Models." The conference brought together leading academics, policymakers, and industry experts to discuss the general principles management can use as keys for effective model validation and risk assessment in a dynamic environment. The conference agenda links to presentations where available.

• Conference Agenda (131 KB, 2 pages)
• Conference Summary (388 KB, 28 pages)

Assessing the Impact of Electronic Benefits Transfer on America’s Communities and the U.S. Payment System

The Center co-sponsored this conference with the Community Affairs Department and the Electronic Funds Transfer Association’s EBT Industry Council. The purpose of the conference was to provide a forum for community, banking, and payment industry leaders on the future of EBT. The sessions provided an understanding of what EBT is, an assessment of its impact on communities, an examination of its legacy as a payment system, and a look ahead to its continuing role in American communities. (December 4, 2004)

• Conference Agenda (187 KB, 4 pages)
• Conference Summary (310 KB, 26 pages)

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. (June 3, 2004)

• Conference Agenda (443 KB, 4 pages)
• Conference Summary (292 KB, 25 pages)

Identity Theft: Where Do We Go From Here?

The identity theft forum sponsored by the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Gartner Fellows Program brought together a broad range of stakeholders to discuss the important issue of identity theft. Participants from the financial services and merchant industries, Internet service and technology providers, and regulatory and law enforcement agencies examined issues faced by consumers, merchants, and banks in fighting this financial crime. Discussants shared methodologies used to combat this crime and explored opportunities for coordination in searching for solutions. (February 10, 2004)

• Conference Agenda (329 KB, 8 pages)
• Conference Summary (290 KB, 22 pages)

2003 Conferences

Asset-Backed Securities and Credit Cards

The Payment Cards Center sponsored a conference examining developments in credit card securitization and its role in the broader ABS market. The event brought together participants representing securitization specialists from the payments cards industry, federal banking regulators, and institutional investors for an interactive dialogue about current challenges faced by this sector. (December 3, 2003)

• Conference Agenda
• Conference Summary (795 KB, 16 pages)

Electronic Funds Transfer Association

The Payment Cards Center co-hosted a one-day forum with the Electronic Funds Transfer Association's (EFTA) eCommerce Payments Council on June 18, 2003, at the Federal Reserve Bank of Philadelphia. The meeting provided an opportunity for guests to explore e-commerce payments products and issues in an inter-industry environment. The event combined Federal Reserve and industry perspectives on the growing use of electronic payments and developments in the e-commerce arena.

• Conference Agenda
• Conference Summary (224 KB, 25 pages)

Financial Privacy: Perspectives from the Payment Cards Industry

On Friday, March 21, 2003, the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a one-day symposium on financial privacy entitled "Financial Privacy: Perspectives from the Payment Cards Industry." The Center invited legal scholars, federal banking regulators, and privacy officers from the largest credit card issuers and information providers in the U.S. to discuss the key privacy issues facing the industry.

• Conference Agenda
• Conference Summary (333 KB, 15 pages)

Innovation at the Point-of-Sale

The Payment Cards Center sponsored this one day conference to examine emerging developments in consumer payments from the perspective of merchants and related processing organizations. The event brought together participants from the payments industry, retailers and interested policy professionals for an interactive discussion of current issues and challenges. (February 27, 2003)

• Conference Agenda
• Conference Summary (254 KB, 18 pages)

Conference on Retail Credit Risk Management and Measurement

April 24-25, 2003

• Retail Credit Risk Conference Page

2002 Conferences

Electronic Funds Transfer Association

The Electronic Funds Transfer Association (EFTA) held a meeting on June 19, 2002, at the Federal Reserve Bank of Philadelphia, hosted by the Payment Cards Center. The eCommerce Payments Council (eCPC) of the EFTA discussed various consumer and retailer issues related to e-commerce payments. In addition, the Payment Cards Center scheduled several senior staff of the Federal Reserve System to discuss the recently released check study and electronic forms of payment.

• Conference Agenda
• Conference Summary (72 KB, 20 pages)

Credit Risk Modeling & Decisioning

The Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Financial Institutions Center at the University of Pennsylvania's Wharton School co-sponsored a conference on "Credit Risk Modeling and Decisioning" at the Inn at Penn on May 29-30, 2002.

• Conference Agenda
• Conference Summary

Innovation in Financial Services & Payments

The Research Department and the Payment Cards Center of the Federal Reserve Bank of Philadelphia co-sponsored a conference on "Innovation in Financial Services and Payments" at the Federal Reserve Bank of Philadelphia on May 16-17, 2002.

• Conference Agenda and Papers
• Conference Summary (460 KB, 14 pages)

2001 Conferences

Consumer Transactions & Credit

March 22-23, 2001

• Conference Summary
• Conference Program

2008 Workshops

An Analysis of Debt Management Plan Success and Failure
November 2008

• Michael Staten, Director, Take Charge America Institute
  University of Delaware

Household Finance Where the Rubber Meets the Road: Evidence from Daily Checking and Credit Card Transactions
November 2008

• Jonathan Zinman, Professor of Economics
  Dartmouth College

Electronic Transactions as High-Frequency Indicators of Economic Activity
October 2008

• Greg Tkacz, Assistant Chief
  Macroeconomic Studies Division, Research Department, Bank of Canada

Designing a Modern Transit Fare Payment System: SEPTA's Chalenges and Opportunities
September 2008

• Jerry Kane, Project Manager, New Payment Technologies System
  SEPTA

Unfair or Deceptive Acts or Practices: An Examination of the Board's Proposal Rules
September 2008

• Ky Tran-Trong, Attorney, Division of Consumer and Community Affairs
  Federal Reserve Board

Tending to Consumer Information in the Wake of a Data Breach: A State Law Approach
July 2008

• Diane Slifer, Esquire
  Blank Rome LLP

Building a New Card Network: Challenges and Opportunities for a Payment Processor
May 2008

• Bob Carr, Chairman and Chief Executive Officer
  Heartland Payment Systems

Financial Services in Health Care
April 2008

• Sarah Phelps, Senior Manager
  First Annapolis Consulting

2007 Workshops

Alternative Data and Its Increasing Use in Credit Scoring Underserved Consumers
November 2007

Discussion Paper (152 KB, 18 pages)

• Arjan Schütte, Associate Director
  The Center for Financial Services Innovation
• Jennifer Tescher, Director
  The Center for Financial Services Innovation

Unlocking the Risk-Based Pricing Puzzle: Keys to Cutting Credit Card Costs
June 2007

Discussion Paper (210 KB, 20 pages)

• Jeanne M. Hogarth, Program Manager
  Board of Governors of the Federal Reserve System

An Update on Trends, Attitudes, and Perspectives on Debit Cards: Recent Survey Results
March 2007

Discussion Paper (119 KB, 12 pages)

• Stan Paur, Chairman
  PULSE EFT Association LP, a Discover Financial Services LLC company
• Tony Hayes, Vice President
  Dove Consulting, a division of Hitachi Consulting

Recent Developments in the Payments Industry: Exploring Alternative Outcomes
February 2007

• Kenneth Posner, Managing Director Specialty and Mortgage Finance
  Morgan Stanley

The Merchant-Acquiring Side of the Payment Card Industry: Structure, Operations, and Challenges
January 2007

Discussion Paper (267 KB, 29 pages)

• Marc Abbey, Partner
  First Annapolis Consulting

2006 Workshops

Community Banks: Payment Practices & Technology Choices
November 2006

2006 Community Bank Technology Survey Results
2006 Community Bank Payments Survey Results

The Cost of Being Late: The Case of Credit Card Penalty Fees
August 2006

Working Paper

U.S. Debit Industry Overview
August 2006

Discussion Paper

Bankruptcy Reform and the “Sweat Box” of Credit Card Debt
July 2006

• Ronald J. Mann, Professor
  University of Texas School of Law

The Minimum Payment Warnings Required by the New Bankruptcy Law
May 2006

• Thomas Durkin, Senior Economist
  Board of Governors of the Federal Reserve System

Anti-Money Laundering and Stored-Value Cards
March 2006

Discussion Paper

Cards, Credit, and Bankruptcy
January 2006

Working Paper

2005 Workshops

Stored-Value Cards: A Method of Electronic Payment for Unbanked and Underserved Consumers
March 2005

Discussion Paper

Prepaid Cards — A Look at Today and Tomorrow
January 2005

Discussion Paper

2004 Workshops

Consumer Payments Law and the Need for Uniform Federal Standards
October 2004

Discussion Paper

Why Invest in Payment Innovations?
September 2004

2003 Emerging Payments Occasional Papers Series, No. 1B

Credit Report Accuracy and Access to Credit
September 2004

Summer 2004 Bulletin Article

Business-to-Business Electronic Payments
July 2004

• Brian Triplett, Vice President
  Visa Commercial Solutions

Attacking the Death Star
May 2004

• Kenneth A. Posner, Managing Director Specialty and Mortgage Finance
  Morgan Stanley

Prepaid Cards: What Are They and How Are They Currently Regulated?
January 7, 2004

Discussion Paper

2003 Workshops

Beating Down the Crooks: Fighting Identity Theft and Consumer Fraud
October 3, 2003

Discussion Paper

Consumer Bankruptcy and Unsecured Lenders
September 8, 2003

Discussion Paper

A Credit Counseling Overview
May 23, 2003

Discussion Paper

Credit Score Accuracy and Implications for Consumers
March 25, 2003

Workshop Details

A Survey of Recent Literature on Credit Card Networks
February 28, 2003

Workshop Details
Paper

A Guide to the ATM and Debit Card Industry
February 12, 2003

Paper (PDF; 2006 update)

2002 Workshops

Voting With Your Feet: Consumers’ Problems With Credit Cards And Exit Behaviors
December 17, 2002

Discussion Paper

An Overview of Credit Bureau Records
November 25, 2002

February 2003 Bulletin Article

Update on Securitization: Credit Cards and Other ABS Markets
October 25, 2002

Discussion Paper

Managing Consumer Relations at TransUnion
October 16, 2002

Workshop Details

Arbitration: Alternative Dispute Resolution in the Credit Card Industry
September 26, 2002

Discussion Paper

Managing Global Privacy
May 7, 2002

Discussion Paper

An Overview and History of Credit Reporting
April 5, 2002

Discussion Paper

Smart Card Technology in the United States
January 23, 2002

• Joel Tolbert, Eastern Regional Manager
  SchlumbergerSema

2001 Workshops

Retail Credit Risk Modeling & the Basel Capital Accord
December 14, 2001

Discussion Paper

Fraud Management in the Credit Card Industry
November 16, 2001

Discussion Paper

Innovations in Small Dollar Payments
September 25, 2001

Discussion Paper

Managing Consumer Credit Risk
July 31, 2001

Discussion Paper

A Panel Discussion on Dynamics in the Consumer Credit Counseling Services
July 20, 2001

Discussion Paper

The Evolution of EFT Networks from ATMs to New On-Line Debit Payment Products
June 15, 2001

Discussion Paper

Credit Cards & Payment Efficiency
May 22, 2001

Discussion Paper

The Right to Privacy and the Financial Services Industry
May 1, 2001

Business Review Article

Bank Card Associations
March 5, 2001

• James Shanahan
  Business Dynamics Consulting, Inc.