Regulatory Strategy, Exams, and Enforcement

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Savvy policy and regulatory counsel

Every fintech needs a regulatory strategy, and it can be a “bet the company” decision for many fintechs. Being ahead of - or aligning with - policy and regulatory priorities can fuel explosive growth for some companies and products; while others may find challenging regulatory frameworks to be the lynchpin of their growth strategy.

Choosing the right strategy will involve deciding which (if any) licenses to obtain before launching a new product, evaluating if business practices comply with the license requirements, and responding to annual exams. And then, of course, there is the unexpected: changing regulatory environments, investigative inquiries, or sudden business pivots. Our team has advised on it all.

We have deep experience advising clients across a range of highly regulated industries, including loan originators, loan brokers, money transmitters, marketplace lending, mortgage lenders, and real estate brokers. We advise on responding to investigations from local, state and federal agencies, including the FTC, SEC, DOJ, and CFPB.

Every member of our team has served as in-house counsel at a fintech or bank. We deliver actionable advice to our clients, based on their appropriate risk tolerance and business goals.

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Tips for a Successful Fintech-Bank Partnership

For a fintech, finding the right bank partner accelerates the path to product launch. By partnering with a bank, the fintech is able to leverage the bank’s charter to deliver a uniform product across those states.

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DIY Law: Beware of the Legal Template

Many companies use contract templates in their day-to-day operations. When drafted properly and tied to the appropriate use case, templates can be a tremendous time and money saving resource. As outside general counsel to companies of all sizes, the review of existing contract templates comes up quite often. Some clients are looking for an upgrade, while others may be seeking a quick, validating green light or help with a contract negotiation utilizing a template as the foundation. Unfortunately, many templates do not accomplish the intended purpose, or worse. 

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Under the Corporate Transparency Act, Companies Face New Requirements in 2024

In the ever-evolving landscape of financial regulation and corporate transparency, the Corporate Transparency Act (CTA) has emerged as a pivotal piece of legislation. Enacted in 2021 as part of the National Defense Authorization Act, the CTA will require most new and existing legal entities operating in the United States to file reports with the federal government regarding their beneficial owners. The CTA goes into effect on January 1, 2024, and its key provisions are described below.

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