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Title V ~ Credit CARD Act of 2009

SEC. 503. STORED VALUE

(a) In General- Not later than 270 days after the date of enactment of this Act, the Secretary of the Treasury, in consultation with the Secretary of Homeland Security, shall issue regulations in final form implementing the Bank Secrecy Act, regarding the sale, issuance, redemption, or international transport of stored value, including stored value cards.

(b) Consideration of International Transport- Regulations under this section regarding international transport of stored value may include reporting requirements pursuant to section 5316 of title 31, United States Code.

(c) Emerging Methods for Transmittal and Storage in Electronic Form- Regulations under this section shall take into consideration current and future needs and methodologies for transmitting and storing value in electronic form.