Payments Practice

Members of our payments group have participated in the structuring, drafting and negotiation of payment products and related agreements, the litigation of payment law issues and the acquisition of payment businesses. The group routinely advises companies ranging from startups to industry leaders with regard to ACH and Regulation E compliance, money transmission and check seller laws, wire transfers, outsourcing arrangements, Internet and telephone payments, licensing agreements, federal and state banking laws, privacy issues, fair credit reporting laws, electronic contracting, check transactions, bill payment laws, debt collection laws, anti-money laundering obligations and the Bank Secrecy Act, and laws affecting credit cards, debit cards, payroll cards, gift cards and other physical and virtual card products.

We believe that to bring a “real world” perspective to legal advice, a payments lawyer should have knowledge of the market and industry practices as well as an understanding of the operational aspects of payment systems. By making a point to integrate our group with the payments community, each of our attorneys is familiar with the latest payment practices and technologies, and the most recent legal developments.

The breadth and depth of experience of the attorneys in the group provides the basis for creative approaches and practical solutions to all types of payment product issues. Payment law-related projects we’ve handled include the following:

New Products, including:

• Structuring products 
• Regulatory risk assessment 
• Development and licensing agreements
• Terms and conditions
• Electronic contracting advice

Compliance, including: 

• ACH compliance
• Checking law (Regulation CC, Check 21, etc.) compliance
• Consumer law (Regulation E, FCRA, FDCPA, privacy, etc.) compliance
• Banking law compliance
• UCC issues
• Website review
• Privacy counseling
• Anti-money laundering, the Bank Secrecy Act and the Patriot Act

Mergers, Acquisitions and Strategic Alliances, including: 

• Aquisitions of money transmitters
• Aquisitions of prepaid card portfolios
• Joint ventures
• Affinity agreements
• Integration of financial institutions
• Charter conversions
• Due diligence
• Regulatory applications and approvals
• Establishment or acquisitions of ATM and POS networks

Other, including:

• Organizing financial institutions to participate in payment systems
• Payment processing agreements
• Litigations and regulatory investigations