Glen Trudel
Glen Trudel

Glen P. Trudel

Partner

trudelg@ballardspahr.com
Tel 302.252.4464
Fax 302.252.4466
Wilmington

Glen P. Trudel is a consumer financial services, banking, and business attorney who counsels financial institutions and companies on both regulatory and transactional matters. Mr. Trudel has significant experience in the acquisition and divestiture of consumer and business credit card and other financial portfolios. He also advises state and federal financial institutions and other entities on operational and vendor outsourcing matters, debt sales agreements, and other transactions, and assists clients in the structure and documentation of new credit products and on formation and licensing issues in Delaware.

Before re-entering private practice, Mr. Trudel was a Senior Vice President and Counsel with MBNA America Bank, N.A. (now part of Bank of America). During his 14 years with MBNA and since then, he has advised on a broad variety of general purpose and private label credit card/unsecured lending, deposit, and other bank regulatory issues. Mr. Trudel has extensive experience in representing the bank and other card issuers and partners in the negotiation, structuring, creation, and administration of joint marketing, affinity/co-brand, miles/reward program, and enhancement agreements, as well as account portfolio acquisitions and divestitures. He also advised on regulatory and operational matters related to the international expansion efforts of MBNA.

In his business practice, Mr. Trudel counsels clients in the structure and creation of business entities and in connection with contractual matters and traditional corporate governance and other matters, including providing Delaware law opinions. 

Representative Matters

  • Advised a Fortune 100 company in connection with the sale of its co-brand credit card portfolio worth several billion dollars to a new issuer
  • Represented a major bank credit card lender in its acquisition of several credit card portfolios, each worth more than $1 billion
  • Represented credit card lenders in their divestiture of credit card portfolios, each varying in size from tens of millions to over $1 billion
  • Drafted and assisted in negotiating co-branded card agreements for airlines miles programs and other travel-based co-branded rewards credit card programs
  • Counseled a federal savings bank in a redrafting of its cash deposit and cash management product documentation
  • Provided regulatory counseling regarding, and developed debt sales agreements for, two major national credit card issuing banks
  • Advised on and drafted business documentation underpinning a Web-based lending platform whereby loans are originated then ultimately sold to institutional investors
  • Provided due diligence assistance in connection with the proposed acquisition of a debt collection servicer
  • Prepared an LLC operating agreement and counseled members on developing a new food additive technology and bringing it to market
  • Advised national card lenders on agreements with payment associations
  • Provided due diligence assistance in the acquisition of private label card portfolios
  • Created and counseled a manufacturing company in connection with establishing itself and executing its business and financing plan, and on contractual matters
  • Represented the purchaser of a controlling interest in a multimillion-dollar boating facility and marina

Professional Activities

American Bar Association Business Law Section and Consumer Financial Services Committee

Delaware Bar Association
International Law Committee, founding member; Corporate Counsel Committee, past member

Publications

“High Noon: CFPB Regulation of the Payday Lending Industry is Approaching,” Delaware Banker, Spring 2014

"Change in the Wind for Debt Sellers and Buyers? The FTC’s Debt Buying Industry Study and Implications for the Consumer Debt Sale Transactions," Delaware Banker, Spring 2013

"A Final Work in Progress: The CFPB's New Compliance Scheme for Foreign Remittance Transfers," Delaware Banker, Spring 2012

"The Durbin Amendment Battleground," Delaware Banker, Spring 2011

"Debit Interchange Fees and Routing Proposal Draws Comments, Concerns," The Legal Intelligencer, February 2011

Contributing author, Delaware Statutory Trusts Manual, LexisNexis, 2010 edition

Speaking Engagements

"Recent Developments in Regulatory Guidance for Debt Sellers and Buyers," Ballard Spahr webinar, September 24, 2014

"Campus Banking Products: A Regulatory Action Update," Ballard Spahr webinar, May 22, 2014

"Regulatory Guidance on Third-Party Relationship Management—More Than a Restatement," Ballard Spahr webinar, January 9, 2014

"Regulatory Guidance for Debt Sellers and Buyers: Spurring Evolution in the Industry," Ballard Spahr webinar, September 10, 2013

"The CFPB Study of Overdraft Programs: A Shot Across the Bow for Banks?" Ballard Spahr and Profit Insight webinar, August 21, 2013

"Hot Topics in Credit Card and Debit Card Litigation," Ballard Spahr webinar, February 26, 2013

"Creditors, Collectors, and Debt Buyers Beware: What the FTC's Debt Buying Study Means for the Consumer Financial Services Industry," Ballard Spahr webinar, February 21, 2013

"Business Contracts A to Z: Negotiation Strategies," National Business Institute Seminar, Newark, Del., December 18, 2012  

Board Memberships

PowerShowz, Inc., former board member

Delaware Greenways, Inc., former board member and Treasurer

Georgetown University Law Center (J.D. 1987)

Providence College (B.A. 1984, summa cum laude)

Delaware