Though much attention has been focused on changes in credit card practices mandated by the Credit Card Accountability, Responsibility and Disclosure Act of 2009, attention should also be paid to provisions that expand efforts to prevent access to the U.S. payments system by money launderers and terrorists.

The CARD Act directs the Treasury Department to apply the Bank Secrecy Act by next February to the sale, issuance, redemption or international transport of stored-value products. Issuers and sellers of stored-value products will have to pay particular attention to additional responsibilities that will be placed on them by new regulations.

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