Glen P. Trudel is a consumer financial services, banking, and business attorney who counsels financial institutions, marketplace lenders, "Fintech" entities, and other companies on both regulatory and transactional matters. Glen has significant experience with documenting and creating marketplace lender platforms and structures, and with the acquisition and divestiture of consumer and business credit card and other loan portfolios. He also advises state and federal financial institutions and other entities on regulatory, operational and vendor outsourcing matters, debt sales and collection agreements, and other transactions, and assists clients in the structuring and documentation of new credit products and on formation and licensing issues in Delaware.
Before re-entering private practice, Glen 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. Glen has extensive experience in representing card issuers and partners in the negotiation, structuring, creation, and administration of joint marketing, co-brand, affinity, miles/reward program, and enhancement agreements, as well as account portfolio acquisitions and divestitures.
In his business practice, Glen counsels clients in the creation of business entities and in connection with contractual, traditional corporate governance and other matters, including providing Delaware law opinions.
- Represented the acquiring entities in a transaction involving several lending and private equity companies, in connection with producing the financing, acquisition, servicing and other documentation for the ongoing purchase of loan receivables from an online lending company, including a credit facility in excess of $208,000,000
- Represented a holding company and its affiliates in the financing and acquisition of a portfolio of approximately $460 million in consumer installment loans
- Represented buyer in an acquisition of a $328M portfolio of consumer credit card receivables from a major U.S. issuer of credit cards, with agreement for purchase of additional receivables as generated. Glen also represented the client in connection with its financing arrangements to finance the acquisition
Pro Bono Experience
American Bar Association Business Law Section and Consumer Financial Services Committee
Delaware Bar Association
International Law Committee, founding member; Corporate Counsel Committee, past member
Recognition & Accomplishments
Top Lawyer of 2017 and 2018, Bank Law, Delaware Today
Speaker, "Industry Review and the Importance of Vendor Due Diligence and Oversight," Venminder Third Party Risk Management Bootcamp webinar, September 9, 2019
"Thought Leadership," Venminder, Inc. Interview/Regulatory Update podcast, July 15, 2019
Speaker, "Card Issuers Workshop," Ballard Spahr workshop, Sioux Falls, May 15, 2019
Co-author, "FDIC Issues Guidance on Service Technology Service Provider Contracts," Consumer Finance Monitor blog post, April 4, 2019
"Delaware enacts law providing financial relief to federal employees impacted by shutdowns," Consumer Finance Monitor blog post, January 29, 2019
"High Noon: CFPB Regulation of the Payday Lending Industry is Approaching," Delaware Banker, Spring 2014
Georgetown University Law Center (J.D. 1987)
Providence College (B.A. 1984, summa cum laude)