Regulations could also encompass the institutions’ disclosure policy, its privacy policy and its following of other proper procedures. Many institutions are now announcing very strict disclosure and privacy policies and extending these policies to stored-value products should be straightforward.
In one early indication of coming complications, the Federal Deposit Insurance Corporation (FDIC) has ruled that electronic money accounts issued by insured institutions are not always legally defined as deposits under the deposit insurance act. This means that stored-value balances do not always carry deposit insurance.