Office of the Comptroller of the Currency
400 7th Street, S.W.
Washington, D.C. 20219
Room: 1W-210
This event's organizers encourage attendees to read this document, which is an example of the government's efforts to curb remotely created check fraud.
Overview of Problem: Statistics, Consumer Protection, and Retail Payment Processing Issues
Consumer protection: Lois Greisman, Associate Director, Division of Marketing Practices, Federal Trade Commission
Retail payment processing: Dick Fraher, Vice President and Counsel to the Retail Payments Office, Federal Reserve Bank of Atlanta [Presentation] 
Rules Framework Likely to Prevent Fraud: Existing Laws, Regulations, and Guidance for Different Classes of Checks
Legal framework: Stephanie Martin, Associate General Counsel, Federal Reserve Board [Presentation] and
Dick Fraher, Vice President and Counsel to the Retail Payments Office, Federal Reserve Bank of Atlanta
Regulatory guidance on remotely created checks: Michael Benardo, Cyber Fraud and Financial Crimes Section Chief, Federal Deposit Insurance Corporation
Current Policy Proposals and How They Address the Issues
FTC's proposed rulemaking: Karen Hobbs, Senior Attorney, Division of Marketing Practices, Federal Trade Commission [Presentation] | [Case cites and links]
Department of Justice perspective on FTC proposal: Jonathan Rusch, Deputy Chief for Strategy and Policy, Fraud Section, Criminal Division, U.S. Department of Justice [Article]
Proposed Changes to Regulation CC: Stephanie Martin, Associate General Counsel, Federal Reserve Board [Presentation]
Alternatives to Detect and Respond to Fraud
Example—ACH Return Rate Reporting: Deborah Shaw, Payments Risk Expert, Federal Reserve Bank of Atlanta [Presentation]
Roundtable discussion on the possibilities: All meeting participants
- Build into bank exam process
- Include in suspicious activity reporting
- Develop thresholds for regulatory reporting (call reports)
- Establish standard for an identifier in the MICR line
- Other options?
Next steps
Recap on next steps to be explored: Mary Kepler, Vice President and Director, Retail Payments Risk Forum, Federal Reserve Bank of Atlanta