Rules of the Road: Governing Faster Payments

This course examines the governance framework that supports faster payments, focusing on how private rule sets, laws, and regulatory guidance work together across payment rails. Students will compare governance models for major faster payments options and explore how rules from networks, regulators, and industry bodies intersect. Faculty will cover key governance considerations including compliance expectations, risk management, consumer protection, data privacy obligations, and the application of laws such as Regulation E and UCC Article 4A. Students will also explore the role of agreements, disclosures, warranties, and indemnities in defining responsibilities and liabilities among faster payments stakeholders. The course emphasizes how institutions navigate multiple rulebooks while maintaining consistent governance and risk controls.