Compliance matters related to various federal and state consumer financial laws, including the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Electronic Fund Transfer Act (EFTA), the Equal Credit Opportunity Act (ECOA), the Fair Debt Collection Practices Act (FDCPA), the Credit Card Accountability Responsibility and Disclosure Act (CARD Act), the Gramm-Leach Bliley Act (GLBA), and the Telephone Consumer Protection Act (TCPA)
Information security breaches, customer incident response programs, and vendor security
Compliance concerns with social media practices
Online advertising, sweepstakes promotions, telemarketing, text marketing, and email, including FTC, FCC, E-Sign, and UETA requirements
PCI DSS compliance and broader data security issues related to handling payment card transactions
Regulatory implications of cross-border cryptocurrency trading, as well as broader regulatory concerns with cryptocurrency offerings, exchanges, and wallets
Privacy and regulatory implications of implementing emerging payment technologies
Licensing obligations in connection with initial public offerings of securities
Due diligence compliance and licensing reviews in connection with acquisitions of state-licensed companies
Audits of licenses and approvals to ensure full compliance with state laws and regulations
Investigations and Enforcement Actions
Consumer Financial Protection Bureau (CFPB) examinations, including full risk assessments and early remediation of identified issues, compiling the documentation necessary to respond to the CFPB’s initial request for information, responding to requests for additional information, developing remediation strategies for issues identified during the course of the examination, and responding to PARR and supervisory letters
Regular representation of financial services clients in investigations, examinations, litigation, and administrative actions initiated by state attorneys general and state regulators
OCC’s horizontal review of sales and incentive practices, including responding to supervisory letters and developing action plans
Consent orders with the OCC and the Federal Reserve Board
Investigations and enforcement actions by numerous state regulators and state attorneys general
Consumer Financial Protection Bureau (CFPB) examinations, including full risk assessments and early remediation of identified issues, compiling the documentation necessary to respond to the CFPB’s initial request for information, responding to requests for additional information, developing remediation strategies for issues identified during the course of the examination, and responding to PARR and supervisory letters
Regular representation of financial services clients in investigations, examinations, litigation, and administrative actions initiated by state attorneys general and state regulators
OCC’s horizontal review of sales and incentive practices, including responding to supervisory letters and developing action plans
Consent orders with the OCC and the Federal Reserve Board
Investigations and enforcement actions by numerous state regulators and state attorneys general
Defense of cases on a nationwide basis involving both individual claims and class actions related to alleged violations of the CARD Act, FDCPA, FCRA, TILA, SCRA, EFTA, and various other state and federal laws
TCPA litigation based on alleged improper robotic/automated mobile calls and text messaging, fraudulent and/or deceptive charges, disclosure issues, and other promotional practices
Cardholder disclosures and agreements and merchant agreements
Merchant processing, BIN, card branding, affinity, licensing, acquisition, and related service provider agreements
Payment service provider agreements, customer agreements, and implementation of mobile banking technology
Treasury management, internet banking, wire transfer, ACH, and related service agreements
Negotiation of application service provider (ASP), service level agreements (SLA), software-as-a-service (SAS), and other vendor contracts
Development and implementation of alternative ACH payment pilot programs
Retail and correspondent agreements for regional and state financial institutions
Third-party website development, hardware acquisition, software licensing, and other agreements
Disclosures and retail agreements
Development and launch of online banking services
Prosecution of patents covering electronic payment technology
Litigation of patents related to electronic payment processing devices
Prosecution of trademark applications specific to payment processing services