Our team's diverse payments capabilities span numerous practice areas including corporate, M&A, privacy and data security, financial services and technology (FinTech), intellectual property, compliance, litigation, technology transactions and global outsourcing. From prepaid cards – including “open loop” bank-issued cards and “closed loop” merchant-issued gift cards – to mobile payments and e-wallets, and even virtual currencies, our team’s broad experience in the payments space provides our clients with a competitive edge in this growing industry.
Our specialized industry experience ensures we have the right lawyers in place to address the myriad of needs our payment clients face in their operations each day, including contractual agreements, risk management, regulatory compliance, technology transactions and corporate finance. Clients such as financial institutions, financial services companies, retailers, consumer goods companies, and payment processing vendors rely on our team for these matters and more.
Since 2001, an increasingly large number of state laws regulating gift cards, prepaid cards or electronic payment products have been passed and many more are pending. Since 2009, numerous federal laws and regulations have been proposed and passed, most notably FinCEN’s prepaid access rule, the Dodd-Frank Act, the Durbin Amendment and the CARD Act. Depending on the payment business model, the need and level of regulatory oversight might differ. We offer clients the full scope of regulatory guidance in connection with services required to operate at any point in the payment process.
Ways We Can Help
- Bank Secrecy Act
- Bill pay services
- Compliance programs and training
- Contracting and partnerships
- Corporate and M&A transactions
- Data security and multifactor authentication
- Electronic Fund Transfer Act and Regulation E
- FCC Truth in Billing
- Federal Deposit Insurance Act
- FinCEN regulations
- Gramm-Leach-Bliley Act
- Intellectual property
- Mobile apps
- Mobile banking and remote deposit capture
- Mobile payment systems
- Payment network rules
- Payment processing and transactions
- Privacy and data use
- State gift card laws
- State licensed lender, loan broaker, and other consumer financial protection laws
- State money transmitter, payment instrument, and check seller laws
- State PUC regulations governing billing of third-party services to mobile bills
- State unclaimed property laws
- Structuring, documenting and negotiating technology license and services agreements
- Technology transactions and outsourcing
- Truth in Lending Act and Regulation