Public Comment, Stored Value Cards, MasterCard International Inc.

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MasterCard Mastetiard International International Law 1)cpartmcnt 2000 Punchasc Strcct Put-chasc,NY 10577-2509 9 14 2495903 Fax [phone] E-mailjushua-pcircz@mi~stcru'drd.conl www~.n~astercarcl.cOrn November 7,2005 Robert E. Feldman Executive Secretary Attention: Comments/Legal ESS Federal Deposit Insurance Corporation 550 171hStreet,N.W. Washington, DC 20429 Re: Part 330-Stored Value Cards To Whom It May Concern: MasterCard International Incorporated ("MasterCard")' submits this comment letter in response to the Proposed Rule rProposal") issued by the Federal Deposit Insurance Corporation (the "FDIC") regarding the definition of "deposit" under section 3(1) of the Federal Deposit Insurance Act, 12 U.S.C. fj 1813(1) (the "FDI Act"). as it relates to funds at an insured depository institution underlying stored value cards and the insurance coverage of such funds under the FDI Act. See 70 Fed. Reg. 45571 (Aug. 8, 2005). MasterCard appreciates the opportunity to comment on the Proposal. Role of Stored Value Card Programs in the Financial System Many types of stored value card programs have become mainstream financial services programs as their issuance, acceptance and use has increased in recent years. Many financial institutions issue stored value cards, and increasingly those cards provide cardholders with access to established networks of merchants and ATMs, such as via the MasterCard, Cirrus, and Maestro networks. Many types of stored ...

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• Publié par: Suib
• Nombre de lectures: 27
• Langue: English

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