Network Branded Prepaid Card Association

“Any corporation, partnership, limited liability company, association, sole proprietorship, natural person, or other entity having a business interest in the issuance, sale, distribution, promotion, manufacturing, servicing or fulfillment (and related activities) of "prepaid access" (as defined in the fincen prepaid access rule) or "prepaid accounts" (as defined in the cfpb prepaid account rule), including, without limitation, network branded prepaid cards, may join the association (each, a "member, and, collectively, "members").”

“The board of directors is elected annually by a vote of nbpca principal members. The board of directors is then responsible for electing the nbpca officers and the executive committee.”

“Nbpca has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. The form 990 is reviewed by the association's director of finance. After all changes are made the return is filed with the irs. The form 990 is presented to the finance committee at the next meeting.”

“Nbpca's conflict of interest policy protects its interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the association. In connection with any actual or possible conflict of interest, an interested person (director or principal officer) must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and governing body. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board while the determination of a conflict of interest is discussed and voted upon. The remaining board shall decide if a conflict of interest exists. Each interested person must annually sign a statement affirming that the person a) has received a copy of the conflict of interest policy; b) has read and understands the policy; c) has agreed to comply with the policy; d) and understands the association is non-profit and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The organization makes it governing documents, conflict of interest policy, form 990, and financial statements available to the public upon request.”

“The organization's oversight process has not changed from the prior year.”