The development of smart cards, an electronic substitute for cash, raises a host of regulatory issues that the Federal Reserve Board is just beginning to address

Article Abstract:

The stored value card is a new electronic funds transfer product which promises to be very useful for face-to-face and Internet transactions. Different applications so far include the Mondex, the VISA and MasterCard and the SmartCash systems. Concerns with these systems include risk management issues and the availability of FDIC insurance. The Federal Reserve Board has proposed amending Regulation E, which regulates electronic funds transfer systems, to exempt transactions of up to $100 from this regulation. Such systems make electronic processing of low-dollar transactions economically viable.

Electronic computers, Electronic Computer Manufacturing, Bank Automation Systems, Banking industry, Innovations, Technology application, Computer applications, Electronic funds transfer systems, Money transfer, Bank automation

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National brand name is a first in a legal market; ambitious Century-21 style amalgamation of firms under unified marketing umbrella could draw scrutiny from state bars

Article Abstract:

The First American Law Bar Association (FALBA) is a nationwide network of law firms trying to create a brand-name image for its members. Legal experts call the FALBA the first of a kind, despite the abundance of bar associations and lawyer referral services. In fact, the various legal issues connected with a national bar association based on marketing can probably only be resolved by various state bars and by the courts. The FALBA, by calling itself a bar association, might be confused with a not-for-profit organization such as the ABA. Other legal issues are covered.

Marketing, Law firms

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