Cash, Check or Cell Phone? Protecting Consumers in a Mobile Finance World

February 23, 2010 - Washington, DC

Conference Materials

Speaker Biographies

Associate Director, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System

Anna Alvarez Boyd is the Associate Director of the Analysis and Communications branch of the Federal Reserve Board of Governors’ Division of Consumer and Community Affairs.  Ms. Alvarez Boyd directs the administrative, policy and community development functions of the Division including Community Affairs, the Consumer Advisory Council and Consumer Education and Research.  Ms. Alvarez Boyd has diverse experience in government, the corporate and non-profit sectors where she has managed housing and mortgage finance, community development and leadership programs at both a national and regional level.  Most recently, Ms. Alvarez Boyd served as Vice President of Programs for the Congressional Hispanic Caucus Institute (CHCI) where she was responsible for leading and managing all aspects of the organization’s leadership development and housing policy programs.  Prior to CHCI, Ms. Alvarez Boyd held the position of Director, Community and Multicultural Lending at Fannie Mae where she developed business opportunities in minority communities through national non-profit housing and community development organizations, realtor associations and state and local government entities.  Ms. Alvarez Boyd also has extensive regulatory experience.  She served as Deputy Comptroller for Community Affairs at the Office of the Comptroller of the Currency until 2004.  In that role she directed a nationwide team of community development professionals responsible for policy development, outreach and consultation services with national banks and examiners.

Director, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System

Sandra Braunstein is the Director of the Federal Reserve Board of Governors’ Division of Consumer and Community Affairs.  As Director, Ms. Braunstein is principally responsible for the development and administration of Federal Reserve policies related to consumer protection for financial services.  She administers programs that write and review regulations for federal consumer protection laws.  Additionally, the division is responsible for consumer compliance supervision and enforcement and has oversight of the Federal Reserve System’s consumer compliance examinations in state member banks and bank holding companies.  Ms. Braunstein administers outreach efforts to the financial services industry, state, local, and federal government officials, and consumer and community organizations.  Prior to joining the Federal Reserve Board, Ms. Braunstein was Executive Director of a local community development corporation in Washington, D.C.  Previous experience includes serving as the coordinator for commercial revitalization in Alexandria, Virginia, working as a management consultant for McManis Associates, and as a federal program administrator for Wilmington, Delaware.

Senior Vice President and R&D Executive, Bank of America

Matt Calman is Senior Vice President and Research & Development Executive at Bank of America.  He leads the Gateway Innovation Lab and the Center for Future Banking, a collaboration with the MIT Media Lab.  In 2009, he led the creation of a Product Innovation Lab in Beijing with China Construction Bank, a global first.

He was previously business champion and chief process engineer for the bank’s “Check 21” platform and built business and technical platforms for check image, such as image exchange and image deposits. He has authored more than 30 U.S. and foreign patents and was named Bank of America’s first Inventor of the Year in 2008. 

Mr. Calman is an alumnus of Carnegie-Mellon University and Georgia State University’s Executive MBA program. 

He lives in Charlotte, North Carolina.

Vice President, Global Products and Experience, PayPal, Inc.

Dickson Chu is vice president of Global Product and Experience for PayPal, Inc.  In this role, he leads product strategy, development, and user experience design for the millions of PayPal consumers and merchant customers around the world.

Mr. Chu has more than 23 years experience in the financial services industry.  Before joining PayPal, he was the general manager for Yahoo! PayDirect, where he transformed the domestic peer-to-peer payments business into an international money transfer service in partnership with MoneyGram.  Prior to Yahoo!, he was senior vice president of Business Innovation at innoVentry, a consumer financial services network of self-service kiosks that delivered check cashing, money transfer, money order, and ATM functionality.  Mr. Chu has also held various senior management roles at companies such as I-Impact, Wells Fargo, and CSC Index, where he ran the Hong Kong office.

Mr. Chu received a Bachelor of Arts degree in classics with a minor in computer science at St. Mary’s College of California.

Founder and CEO, Crone Consulting LLC

Richard Crone is the Founder and Chief Executive Officer of Crone Consulting LLC, a consulting firm with expertise in technological innovations in customer self-service, payments systems and mobile commerce. 
Mr. Crone has helped define the customer self-service and mobile commerce strategy for financial institutions, wireless carriers, payment processors, recurring billers, card issuers, device manufacturers and technology start-ups.  Crone’s Payments Optimization services are known for achieving 10 – 30% cost reductions through innovative customer self-service and alternative payment strategies. 

Mr. Crone launched the first Electronic Check Service on the Internet, CyberCash’s PayNow™.  He was part of the founding team, and served on the Board of Directors, of edocs, from the company’s inception until it was sold to Siebel (now Oracle Self-Service).  Mr. Crone holds an MBA and BS from the University of Southern California.

Vice President, Federal Reserve Bank of Boston               

Marianne Crowe is a Vice President and Payments Liaison in the Consumer Payments Research Center at the Federal Reserve Bank of Boston.  In previous roles at the Boston Federal Reserve she served as AVP for Business Development, the National Image Archive Service and the Boston Check operation.  Prior to joining the Federal Reserve in 2001, Ms. Crowe worked at Bank of Boston in project and operations management positions.

Ms. Crowe has participated in the mobile payments workgroups with FSTC and the NACHA Internet Council.  She has a B.A. from Regis College and an MBA from Babson College.

Policy Specialist, Consultative Group to Assist the Poor, The World Bank

Denise Dias is a member of CGAP’s Government and Policy Initiative and the regional manager for Latin America and the Caribbean.  She has been concentrating her work on branchless banking policy, regulation and supervision, as well as prudential regulation and supervision of deposit-taking microfinance institutions.  Before becoming staff, Ms. Dias was a CGAP Policy Advisory Consultant for nearly two years and independently consulted to GTZ, FIRST Initiative and the World Bank, with focus on microfinance and branchless banking regulation and supervision, and broader financial access policymaking. 

Previously to moving to the U.S. in early 2007, Ms. Dias worked in the banking supervision and licensing departments of the Central Bank of Brazil; headed a small Internet business in Brazil and audited government programs for the Brazilian Ministry of Treasury.  She has an MBA in International Banking and Finance from Birmingham Business School (UK), an MBA in Financial Sector Economics from USP (Brazil), and a Bachelor’s in Business from UFMG (Brazil).  She speaks Portuguese, English and Spanish.

Supervisory Policy Analyst, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System

Ren Essene currently serves as a Supervisory Policy Analyst for the Board of Governors of the Federal Reserve System.  Her previous work in research and policy took place at the Federal Reserve Bank of Boston and Harvard’s Joint Center for Housing Studies.  She is a co-editor and lead author in the recently published, Revisiting CRA:  Perspectives on the Future of the Community Reinvestment Act.  Other publications include Understanding Mortgage Market Behavior:  Creating Good Mortgage Options for All Americans, and Consumer and Mortgage Credit at the Crossroads.  Previously, she was the founding Executive Director of homeWORD, an award winning community-based development organization. 

Ms. Essene earned her Masters in Public Administration from the Harvard Kennedy School and her B.S. in Architecture from the University of Illinois. 

Assistant Director, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System

Allen Fishbein currently serves as assistant director for policy analysis and consumer education and research with the Division of Consumer and Community Affairs of the Board of Governors of the Federal Reserve System.  

Prior to the joining the Federal Reserve in 2008, Mr. Fishbein was Director for Housing and Credit Policy with the Consumer Federation of America.  His background includes an appointment with the U.S. Department of Housing and Urban Development as senior advisor for government-sponsored housing enterprises, where he supervised rulemaking and other activities in support of the establishment of annual affordable housing goals for Fannie Mae and Freddie Mac.  Mr. Fishbein also coordinated activities and contributed to the final report of the joint HUD/Treasury Department sponsored National Predatory Mortgage Lending Task Force.   

He is a former general counsel for the Center for Community Change, a national non-profit organization specializing in community development, where he directed the organization’s pioneering work on the Community Reinvestment and Home Mortgage Disclosure Acts. 

Mr. Fishbein holds a Juris Doctor degree from the Antioch School of Law.  He is a member of the District of Columbia Bar, where he was once honored as “Consumer Lawyer of the Year.” 

Executive Director, D2D Fund, Inc.

Timothy Flacke is Executive Director, co-founder and board member of D2D (“Doorways to Dreams”) Fund, Inc., a national non-profit organization that develops and tests products and policies to expand access to financial services and asset building opportunities for low and moderate-income families. 

Mr. Flacke has 17 years experience helping lower-income people focus on saving, in both the private and non-profit sectors.  He has worked as a consultant, author and grant writer in the field of asset development and, previously, managed employee benefits, risk management and stock option plans for Filene’s Basement, Inc., a chain of off-price apparel retail stores with 5,000 employees in 13 states. 

He holds a Masters in Public Policy from the Kennedy School of Government at Harvard University and a Bachelor of Arts in Philosophy from Boston College.

Staff Counsel, Center for Democracy and Technology    

Harley Geiger joined the Center for Democracy and Technology (CDT) as staff counsel in spring 2008.  His work focuses on the Health Privacy Project and the Security & Freedom Project.  Prior to working at CDT, Mr. Geiger clerked with the Federal Trade Commission’s Division of Consumer and Business Education, where he supported the Division’s national information security public awareness campaigns.  In summer 2007,
Mr. Geiger clerked with the Electronic Privacy Information Center, where he worked on health privacy, telephone network security, employee verification, and human rights issues.  During summer 2006, Mr. Geiger clerked with the Public Broadcasting Service, where he assisted the General Counsel’s Office in preventing Internet trademark fraud and in developing the company’s policy on employee electronic publishing.  In winter 2006, Mr. Geiger clerked with the Minority Leader of the Missouri House of Representatives, where he testified before a Missouri Senate Committee on technology policy.

Jodi Golinsky
Vice President, U.S. Regulatory and Public Policy Counsel Law Department

 Jodi Golinsky is Vice President, U.S. Regulatory & Public Policy Counsel for MasterCard Worldwide.  She joined MasterCard in May 2003.  She is responsible for managing U.S. regulatory affairs and public policy matters with an emphasis on regulatory and legislative issues impacting financial institutions.  She has worked extensively in the areas of UDAP, Credit CARD Act, Regulations Z & E, overdraft, prepaid, security, privacy, compliance, risk and payment system integrity.  She also has testified before two congressional committees on the subject of commercial child pornography.  She is frequently sought after as an expert on regulatory and legislative topics and asked to speak at public and government forums. She participates on a number of industry working groups, including the Business Secrecy Act Advisory Group, Subcommittee on Stored Value.  In 2008, she was honored by the Westchester Business Council as a “Forty Under Forty Rising Star.” 

Before joining MasterCard, Ms. Golinsky was an associate at Davis Polk & Wardwell in New York City where she concentrated on regulatory investigations and securities fraud litigation.  Prior to that, Ms. Golinsky clerked for the Honorable Denny Chin in the Southern District of New York and the Honorable Ralph K. Winter, Chief Judge of the Second Circuit Court of Appeals.  Ms. Golinsky is admitted to practice in New York State, the Southern District of New York, and the Eastern District of New York.   

Financial Services Campaign Manager and a Senior Attorney, Consumers Union

Gail Hillebrand is the Financial Services Campaign Manager and a Senior Attorney at the West Coast Office of Consumers Union, nonprofit publisher of Consumer Reports® magazine.  Ms. Hillebrand works on financial regulatory reform, banking, consumer credit, payments, identity theft, electronic commerce, consumer legal rights and remedies, and the Uniform Commercial Code revision process. 

Ms. Hillebrand is the 2004 recipient of the National Consumer Law Center’s Vern Countryman Award, and is a member of the American Law Institute.  She was the founding chair and a longtime board member of the California Reinvestment Coalition, a statewide coalition working to encourage financial institutions to serve low-income consumers and neighborhoods.  Ms. Hillebrand has served on the Consumer Advisory Council to the Federal Reserve Board.

Assistant Vice President and Director – Philadelphia Payment Card Center
Federal Reserve Bank of Philadelphia

Bob Hunt is an Assistant Vice President at the Federal Reserve Bank of Philadelphia.  He became Director of the bank’s Payment Cards Center in April 2009.  Prior to this appointment he was a senior economist in the bank’s Research Department.

Mr. Hunt’s research has focused on consumer payments, consumer finance, and the economics of innovation.  His published research includes studies of the dynamics of the consumer credit reporting industry, credit counseling organizations, the collections industry, and antitrust issues in consumer payment networks.  He has also published papers on topics in economic geography and intellectual property.  Before joining the Bank in 1998, Mr. Hunt worked for the U.S. Congressional Budget Office.  Prior to attending graduate school, he was an industry risk analyst for Bank One, Indianapolis, Indiana.

Mr. Hunt received a Ph.D. in economics from the University of Pennsylvania in 1996 and a B.A. in political science and economics from Butler University in 1986.

Staff Attorney, Consumers Union

Michelle Jun is a Staff Attorney at the West Coast Office of Consumers Union, the nonprofit publisher of Consumer Reports® magazine.  She staffs the Payments Project for the Financial Services Team, focused on improving the payments marketplace for consumers.  Her advocacy on the Financial Privacy Now campaign, a multi-state campaign, brought stronger financial privacy and identity theft protections to consumers nationwide.  Ms. Jun first came to Consumers Union in 2003 to provide assistance to community advocates and regulators to preserve community health assets resulting from the sale of non-profit hospitals.  She earned her B.A. from the University of California, Los Angeles and her J.D. from the University of San Francisco, School of Law.

Head of Related Affairs, Telekom Austria Group

Peter Lohmann is Head of Related Affairs at the Telekom Austria Group.  Mr. Lohmann was responsible for mobile payment and m-Commerce in Mobilkom Austria AG.  Prior to joining Telekom Austria Group,
Mr. Lohmann was responsible for mobile payment and mCommerce in Mobilkom Austria AG.  In 2002, he founded the first bank of a mobile network operator with focus in mobile payments (A1 Bank).  In 2006, he founded the first interoperable payment solution between competitive mobile network operators in local markets (  Previously, he was responsible for CRM and Mobilkom’s loyalty program, and was a consultant for marketing and developed arts and cultural marketing programs.

Assistant Vice President, USAA

Victor Pascucci III is Assistant Vice President in the Office of Enterprise Transformation for USAA.  He is responsible for ensuring USAA’s long term strategic objectives are realized through mid-term planning and execution.  In particular Mr. Pascucci is responsible for the enterprise transformation initiatives for USAA’s infrastructure, technology, governance, and channel management capabilities.  Prior to USAA, Mr. Pascucci held executive leadership positions in several technology based businesses including the INC 500, 14th Fastest Growing Private Company in America and the INC 500, 62nd Fastest Growing Private Company in America.  

Associate Director, Center for Community Capital, University of North Carolina at Chapel Hill

Janneke Ratcliffe is Associate Director for the Center for Community Capital at the University of North Carolina (UNC) at Chapel Hill, which she joined in 2005, bringing 20 years experience in financial services and community development finance.  Previously, she has directed a small business lending nonprofit; she spent ten years in GE Capital’s mortgage subsidiary in risk management, product development and strategic planning; and, she worked for seven years at one of the country’s leading community development financial institutions.  Throughout her career, she has worked on facilitating the flow of equitable financial services to households and communities.

The UNC Center for Community Capital explores ways to increase economic opportunity for under-capitalized communities that are effective in building assets and sustainable from a business perspective.  Its consumer financial services research recognizes that lack of access to affordable financial services can keep families out of the financial mainstream, compromise asset building, or propel people into a cycle of chronic borrowing.  Key areas of study include: financial services for low- and moderate-income consumers, effectiveness of strategies to build household economic security, indebtedness of U.S. consumers and its impact on wealth, the impact of abusive financial services, and appropriate and effective approaches to consumer education.

Partner, Bryan Cave LLP

Judith Rinearson is an attorney who is a recognized authority in the laws of prepaid payment products.  As a Partner at Bryan Cave LLP, Ms. Rinearson advises a range of clients (including banks, program managers, non-banks, retailers, and processors) in all legal aspects of launching and managing a range of payment products, such gift cards, bank-issued general purpose reloadable cards, payroll cards, reward and incentive cards, as well as bill payment services, Internet, mobile and contactless payment products.  Formerly Group Counsel for American Express prepaid products, Ms. Rinearson helped launch some of the first open system prepaid cards issued in the U.S.  She has spoken numerous times about prepaid and emerging payments and has been widely published in this area.  She currently chairs the Government Relations Working Group for the Network Branded Prepaid Card Association, co-chairs the Stored Value Subcommittee for the Bank Secrecy Act Advisory Group (BSAAG) and was awarded an Industry Achievement award at the 2008 Prepaid Expo for her long support of the prepaid industry. 

Founder and CEO,

Jaidev Shergill is Founder and CEO of, a social media company focused on the personal finance space.

Prior to founding in 2009, Mr. Shergill worked for Citigroup on the Growth Ventures and Innovation team.  He was President and EVP of Citi Ventures, where he was responsible for equity investments and strategic venture partnerships with promising start-up companies that could deliver value to customers.   Mr. Shergill’s experience at Citi also included the Retail bank (Citibank) where he was Head of the Segments Business in the North America Consumer Banking organization.  He had the opportunity to develop an overall banking proposition including product, marketing and distribution for some of the fastest growing areas in the business.  He joined Citi in 2004.

Mr. Shergill received his B.S. in Engineering at Northwestern University in Evanston, Illinois and his MBA at INSEAD in Fontainebleau, France.

Founding Partner, MPOWER Ventures and Chairman and CEO of MPOWER Labs 

Roy Sosa co-founded the socially committed venture fund and affiliated business accelerator in order to identify, create and invest in early-stage financial service companies focused on underserved markets.  The MPOWER Ventures portfolio spans international payments, mobile payments, asset building and retail financial services and operates in regions across the globe, including North America, Latin America, Europe and Asia-Pacific.
Mr. Sosa is an accomplished entrepreneur who pioneered the multi-billion-dollar prepaid debit market as the co-founder of NetSpend Corporation, a highly successful company that serves millions of unbanked Americans.  As a leading voice for underserved consumers around the world, he pledged to the Clinton Global Initiative to bank five million consumers in five years through the work of the MPOWER group of companies.  He also serves on the Board of ACCION International and as Co-Chair of the World Economic Forum Global Agenda Council on Financial Empowerment.

Director, Center for Financial Services Innovation

Jennifer Tescher is the Director of the Center for Financial Services Innovation (CFSI).  CFSI develops and distributes real-world tested research and strategy, provides funding to promising companies, and facilitates cross-sector business collaboration.  The Center is a non-profit affiliate of ShoreBank Corporation, the nation’s leading community development bank holding company.  She has been part of the ShoreBank family since 1996 in a variety of capacities, focused primarily on the development and implementation of new financial products and services.

Ms. Tescher has guided CFSI since its inception in 2004, and has achieved notable success in raising the profile of underbanked access and asset-building as an objective for the industry.  She has become a nationally known expert on this topic. 

Ms. Tescher serves as a member of the Board of Directors for Project Match and the Credit Builders Alliance and is a member of Bank of America’s National Community Advisory Council.  Ms. Tescher also serves as a member of the Federal Reserve Board’s Consumer Advisory Council.  Ms. Tescher received undergraduate and graduate degrees in journalism from Northwestern University and a public policy degree from the University of Chicago.

President and Founder, Javelin Strategy & Research

James Van Dyke is President and Founder of Javelin Strategy & Research.  Javelin is the leading provider of independent, quantitative research-based and industry-specific strategic direction for payments, financial services and risk/fraud initiatives.  Using the industry’s strongest fact-base, Javelin’s team of statisticians and industry experts is known for tackling crucial industry opportunities and challenges in engagements and research reports.  Mr. Van Dyke’s previous positions included research director, product management director and consulting specialist; with focus on financial services, payments, encryption and transactional commerce systems; at companies ranging from startup to Hewlett Packard.  As a futurist, Mr. Van Dyke’s has been the first to research such topics as ‘green banking’, ‘expedited payments’, and ‘multi-channel identity fraud’.  

Mr. Van Dyke has presented before the U.S. House of Representatives and numerous industry events, reaching audiences of thousands each year.  In 2009 Javelin’s ID Fraud Survey Report has already been cited over 1,400 times, reaching over 27 million individuals through print and broadcast media around the globe.  

Vice President and Director of the Payments System Research
Federal Reserve Bank of Kansas City

Stuart E. Weiner is Vice President and Director of Payments System Research at the Federal Reserve Bank of Kansas City.  Among his responsibilities, he advises Federal Reserve policymakers on payments system issues and monitors and evaluates industry trends.  He has served as a technical expert for the International Monetary Fund and has collaborated on projects with a number of other central banks.  His current areas of study include assessing the implications of the emergence of mobile payments, analyzing interchange issues in credit and debit card markets, exploring the role of nonbanks in the payments system, and examining central bank payments oversight issues.

Mr. Weiner has published articles and books in several subject areas, including payments systems, monetary policy, and financial markets.  His research has been cited in such publications as The Wall Street Journal, The Economist, Newsweek, The New York Times, and American Banker.  Mr. Weiner also has been active in teaching, serving on the faculties of Dartmouth College, Northwestern University, and the University of Kansas.  He holds a bachelor’s degree in economics and mathematics from Cornell University and a Ph.D. in economics from Northwestern University.