Jessica Sklute advises clients on bank regulation, payment systems and financial services law. She focuses her practice on retail financial services, with an emphasis on payment systems (traditional, card-based, Internet-based and emerging) and solutions; money transmission; information privacy and data security; card services; strategic alliances; regulatory compliance related to mergers and acquisitions, and general regulatory compliance.
Development and Implementation of Consumer Financial Services and Payments Products
Represent market leaders in development and implementation of innovative and emerging payment products, including stored-value cards (e.g., payroll, gift, general purpose prepaid) and paper-, card- and Internet-based payment products and services, as well as co-branded and affinity variations of these products.
Represent financial institutions, retailers and investment funds in the design and implementation of consumer financial, web-based financial and payment system products.
Represent financial institutions and other clients in connection with joint marketing, strategic alliance, sponsorship and outsourcing arrangements, including ATM/POS network arrangements, consumer loan products and co-brand and private label agreements.
Regulatory Compliance for Consumer Financial Services and Payments Products
Advise clients with respect to all aspects of existing and developing consumer protection regulations, including consumer disclosures, privacy and consumer credit.
Represent clients with respect to all aspects of regulatory compliance including dealings with regulators in connection with a wide variety of payment products and consumer financial services.
Business Transaction-Related Representations
Represent clients in connection with applications to federal and state banking agencies pertaining to acquisitions, divestitures, organizations and business expansions, including national banks, state banks, industrial loan companies and New York Article XII investment companies.
Represent sellers, purchasers and bidders in connection with mergers, acquisitions and divestitures of payment and consumer financial services businesses, money transmitters, ATM/POS networks and consumer loan providers.
Financial and Information Privacy
Provide financial privacy advice to banks, investment companies, investment advisors and other financial institution clients, including advice related to information-sharing practices, disclosures and federal and state data security and data breach laws.
“New York State Industrial Board of Appeals Revokes Payroll Debit Card and Direct Deposit Regulations Set to Take Effect on March 7,” SRZ Alert, Feb. 23, 2017 (co-author)
“Virtual Currency Regulation: ‘BitLicense’ Re-Proposed by NYDFS,” SRZ Alert, Feb. 6, 2015 (co-author)
“CFPB Issues Proposed Rule to Provide Additional Federal Consumer Protections for Prepaid Products,” SRZ Alert, Nov. 18, 2014 (co-author)
“CFPB Issues Larger Participants Rule for International Money Transfer Market,” SRZ Alert, Sept. 17, 2014 (co-author)
“Reminder for Fund Managers on the November 20 Identity Theft Red Flags Rules Deadline,” SRZ Alert, Nov. 6, 2013 (co-author)
“Regulation of Non-Depository Covered Persons Under the Dodd-Frank Act,” The Review of Banking and Financial Services, January 2012 (co-author)
“Addressing Your Prepaid Business' Most Significant Challenges under FinCEN's NPRM,” Paybefore Update, July 2010
“New Credit Card Rules for Consumer Protection,” E-Finance & Payments Law & Policy, Dec. 2009 (co-author)
“Biometrics in the Financial Services Industry: Privacy,” Banking & Financial Services Policy Report, April 2002 (quoted in the U.S. Department of Treasury's “The Use of Technology to Combat Identity Theft: Report on the Study Conducted Pursuant to Section 157 of the Fair and Accurate Credit Transactions Act of 2003 (February 2005)) (co-author)
“OCC Guidance on Unfair and Deceptive Lending and Marketing Practices,” Banking and Financial Services Policy Report, July 2002 (co-author)
“Recent Amendments to Regulation Z,” Banking & Financial Services Policy Report, June 2002 (co-author)
“Use and Redistribution of Customer Data After Gramm-Leach-Bliley Act,” Banking & Financial Services Policy Report, September 2000 (co-author)
“Cybersecurity and Data Privacy Post Dwolla: Ensuring That New Payment Offerings and Services Effectively Protect Sensitive Customer Information, Both in the U.S. and Abroad,” ACI 13th National Forum on Emerging Payment Systems, Washington, D.C., September 2016
“Prepaid Access,” Money Transmitter Regulators Association 2015 Annual Conference & Examiners’ School, Kansas City, Mo., October 2015
“Add On Credit Features and Enhancements Coupled with Prepaid Access: A Focus on the Regulatory, Risk and Compliance Challenges Associated with Consumer Remote Deposit Capture, Payday Lending and Deposit Advance,” ACI 10th National Forum on Prepaid Card Compliance, Chicago, October 2014
“Turbulent Seas: Navigating Federal Regulatory Waters Without Sacrificing Innovation, Growth and Profitability,” NBPCA Power of Prepaid, National Harbor, Md., June 2014
“Managing Privacy and Data Security Risks in the Emerging Payments Market, Both in the U.S. and Abroad,” ACI 6th National Forum on Balancing Innovation with Consumer Protections in Emerging Payment Systems, Washington, D.C., September 2013
“Identity Theft Rules: Crafting Appropriate Policies for Private Fund Managers,” SRZ Webinar Workshop, May 2013
“The Payments Landscape: New Technologies, Evolving Products, Emerging Trends, and Their Impact on the Payments Industry,” ACI 2nd Annual Practical, Legal, and Compliance Forum on Balancing Innovation With Consumer Protection in Emerging Payment Systems, Washington, D.C., September 2011
“Merchant Relationship Programs,” Executive Enterprise Institute 25th Annual Payment Card Institute, Arlington, Va., May 2011
“Alternative Financial Services in the US,” Council of Microfinance Counsels Meeting, San Francisco, February 2011
“Merchant Relationship Programs,” Executive Enterprise Institute 24th Annual Payment Card Institute, Washington, D.C., May 2010
“Bill Payments, Regulation and Compliance,” Money Transmitter Regulators Association (MTRA) Annual Conference, Charleston, N.C., November 2005
“Offering Financial Services Online: Legal Issues in Development and Operation of Internet Websites,” Financial Services Volunteer Corps (FSVC) conference sponsored by Banking Finance Academy in Tbilisi, Republic of Georgia, January 2001