Stephen Krebs is an associate in the firm’s Financial Services & Products Group and a member of its payment systems and bank regulatory teams. He advises clients on the laws and regulations affecting the development and delivery of payment products and services, including consumer protection statutes, anti-money laundering rules, and state licensing obligations. He also represents industry participants during the rulemaking process through the preparation of comment letters and other written analyses. Mr. Krebs has experience providing regulatory counsel with respect to a broad range of banking and payment products, including credit, debit and prepaid cards; ACH and wire transfer transactions; and mobile payment services.
Mr. Krebs received his J.D., with honors, in 2010 from the George Washington University Law School, where he served as a member of the George Washington International Law Review and as a Dean’s Fellow for the Legal Research and Writing Program. He received his B.A. in 2003 from the University of North Carolina at Chapel Hill.
- Counseled numerous bank clients on the impact of the Dodd-Frank Act and implementing regulations, including the “remittance transfer rules” and other regulations promulgated by the Consumer Financial Protection Bureau.
- Counseled a large prepaid card provider on a wide range of regulatory issues, including compliance with Regulation E, UDAAP and anti-money laundering requirements.
- Drafted a variety of letters responding to requests for comment relating to regulations proposed under the Dodd-Frank Act, including a comment letter jointly submitted by ten financial services industry associations.
"Regulatory & Litigation Update," FinTech Law Report, Vol. 17, No. 3, May/June 2014.
CFPB Proposes Alternative Annual Privacy Notice Delivery Method; FDIC Issues White Paper regarding the Potential Use of Mobile Financial Services to Reach Unbanked and Underbanked Consumers; New York Department of Financial Services Reaches Agreement with Visa and MasterCard regarding Processing of Illegal Payday Loan Payments; CFPB Proposes Revisions to Remittance Transfer Rule; and Judge Approves Final Settlement in Four Oaks Case; Department of Justice Posts Blog Entry Defending Operation Chokepoint.
This advisory reviews guidelines issued by the Office of the Comptroller of the Currency (OCC), their scope of applications and what financial institutions need to know before the guidelines take effect.
September 18, 2014
The Alston & Bird Financial Services & Products Group reviews FinCEN’s recent proposal to clarify and strengthen customer due diligence obligations for financial institutions under the Bank Secrecy Act.
August 8, 2014
This advisory discusses the Consumer Financial Protection Bureau’s proposed changes to Regulation P, the rule that implements the consumer financial privacy provisions of the Gramm-Leach-Bliley Act.
May 12, 2014
"Regulatory & Litigation Update," FinTech Law Report, Vol. 17, No. 2, March/April 2014.
USPS Inspector General issues report on providing non-bank financial services for the underserved; CFPB proposes rule to supervise nonbank international money transfer providers; FinCEN issues administrative rulings regarding virtual currency miners and investors; government accountability office publishes report on college debit card programs; CFPB urges credit card companies to make credit scores available to consumers; D.C. Circuit Court upholds Federal Reserve Board Regulation II; and Seventh Circuit rules for Target Corp. on TILA challenge to credit card upgrade.