Payment technology

Panelists announced for conference on emerging payments

Conference of State Bank Supervisors CSBSThe Conference of State Bank Supervisors (CSBS) recently announced panelists slated to appear at a hearing on emerging payments and their impact on state law, financial institutions and consumer protection later this week.

The hearing, which will be held at 9 a.m. on May 16 at Chicago’s Hyatt Magnificent Mile, will begin with opening remarks from David Cotney, the commissioner of the Massachusetts Division of Banks and the chairman of the CSBS emerging payments taskforce.

The first discussion panel will focus on legacy payment systems with participation by Paul Hastings Partner Chris Daniel, NACHA—The Electronic Payments Association Executive Vice President Jane Larimer and Bob Steen, the CEO of Bridge Community Bank in Iowa.

Retail payments innovation will be the focus of the second discussion panel, which will include participation from Electronic Transactions Association (ETA) CEO Jason Oxman, Green Dot Bank CEO Lewis Goodwin, PayPal Vice President of Global Payments Policy John Muller and ISIS Mobile General Manager of MNO Partnerships Spencer White.

The third and final panel will center on virtual currencies. BitPay CFO Bryan Krohn, Xapo Chief Compliance Officer Karsten Behrend, CoinX CEO Megan Burton and Second Market General Counsel Annemarie Tierney will participate in the discussion.

The emerging payments taskforce, which was formed in February, is made up by nine state regulators, including Cotney: Jan Lynn Owen, the commissioner of California’s Department of Business Oversight; Drew Breakspear, the commissioner for Florida’s Office of Financial Regulation; Kevin Hagler, the commissioner of the Georgia Department of Banking and Finance; and Benjamin Lawsky, the superintendent of New York’s Department of Financial Services.

Other members of the task force include Greg Gonzales, the commissioner of the Tennessee Department of Financial Institutions; Charles Cooper, the commissioner of the Texas Department of Banking; Edward Leary, the commissioner of Utah’s Department of Financial Institutions; and Scott Jarvis, the director of the Washington Department of Financial Institutions.

“State regulators have proactively established the Task Force to develop and implement a strategy to coordinate state regulatory oversight of emerging payment systems,” CSBS President and CEO John Ryan said. “As regulators of a diverse range of financial services providers, state regulators bring a unique perspective on the opportunities and risks that must be understood in order to preserve marketplace stability while supporting constructive innovation.”

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