Ronald K. Vaske

Ron Vaske co-leads Ballard Spahr’s Fintech and Payments Team. His practice focuses on matters involving banking, payment systems and commercial transactions.

Ron regularly assists clients in relationships between financial institutions and Fintechs and other third parties. He has more than two decades of experience helping clients establish and administer bank sponsorship arrangements for credit card, prepaid card, lending and payments programs. Several of the clients he works with serve the under-banked and subprime markets.

Ron also assists clients in product development of new consumer and B2B financial services and emerging payment systems. He is an authority on the CARD Act and the Truth in Lending Act, the Prepaid Rule and the Equal Credit Opportunity Act, the Electronic Funds Transfer Act, the Fair Credit Reporting Act, and federal and state laws prohibiting unfair, deceptive and abusive acts and practices (UDAAP).

Ron frequently helps financial institutions prepare for and respond to consumer compliance and safety and soundness examinations.

Representative Matters

• Led regulatory due diligence on behalf of private equity investor in its acquisition of an international B2B payments and credit solutions business.
• Assisted multiple banks and Fintechs in matters involving credit card, lending and payment systems sponsorship programs, including documentation of related commercial agreements and ongoing advice on compliance and regulatory matters.
• Advised financial institutions in appeals of material supervisory determinations related to safety and soundness and consumer compliance examinations.
• Advised Fintech in launch of national B2B credit card program.
• Advised investor in financing its acquisition of national private label credit card program.
• Advised national credit card issuer in litigation against the U.S. Consumer Financial Protection Bureau (CFPB), successfully blocking implementation of a Regulation Z amendment adopted by the Board of Governors of the Federal Reserve System in 2011 (First Premier Bank v. United States Consumer Financial Protection Bureau, 819 F. Supp. 2d 906 (D.S.D. 2011)

Recognition & Accomplishments

The Best Lawyers in America, banking and finance law, 2021

North Star Lawyer, Minnesota State Bar Association, 2013

Minnesota Super Lawyers, Rising Star, 2003-2004

Publications

Co-author, "Fast-Approaching Effective Date of Prepaid Rule Leaves Little Time to Address Significant Compliance Challenges," Ballard Spahr alert, February 5, 2019

Speaking Engagements

"The Use of Alternative Data in Online Lending Models and the Credit Process: Assessing Consumer Concerns, Regulatory Challenges, and the Implications of the CFPB's First No-Action Letter," American Conference Institute National Conference on FinTech and Emerging Payment Systems, New York, May 1, 2018

"The CFPB Final Rule on Prepaid Accounts: Implementation Delays, Compliance Challenges, and Market Expectations," American Conference Institute's 18th National Forum, January 2018

"Consumer Litigation - TCPA and FDCPA Trends, Stale Debt Recovery & the CFPB," Lindquist & Vennum Card Issuer Workshop, October 4, 2017

"Regulatory Updates & Enforcement Trends - Prepaid, Credit & More," Lindquist & Vennum Card Issuer Workshop, September 28, 2017

2017 Advanced Lending Seminar, Complimentary Seminar, May 11, 2017

"CFPB Developments Other than The Final Rule on Prepaid Card Accounts Including Arbitration, Small Dollar Lending, and Enforcement Actions," American Conference Institute National Forum on Prepaid Card Compliance, Washington, D.C., January 30, 2017

2016 Sioux Falls Card Issuer Workshop, Complimentary Seminar, November 1, 2016

"Banking Case Law and Regulatory Update," Minnesota CLE, Banking Law Fall Round-Up, October 18, 2016

"Managing the Third-Party Servicers, Ensuring that Program Managers Have Proper Compliance Management Systems in Place, and Helping Less Sophisticated Program Managers Develop Robust Compliance Management Systems," American Conference Institute National Forum on Prepaid Card Compliance, Chicago, IL, September 26, 2016

2016 Advanced Lending Seminar, Complimentary Seminar, April 21, 2016

"Third Party Regulatory and Compliance Risks and UDAAP Issues Specific to Emerging Payment Systems and How to Best Manage Them," American Conference Institute National Forum on The Evolving Legal, Regulatory, and Enforcement Landscape of Emerging Payment Systems, Chicago, IL, March 31, 2016

"Risks Associated with Tax Refunds on Prepaid Cards," American Conference Institute National Forum on Prepaid Card Compliance, Washington, D.C., January 28, 2016

2015 Card Issuer Workshop - Sioux Falls, Complimentary Seminar, October 22, 2015

"Credit, Debit, and Prepaid Cards: New Regulations and Reforms and Their Impact on Traditional Payment Methods," American Conference Institute 9th National Forum on The Evolving Legal, Regulatory, and Enforcement Landscape of Emerging Payment Systems, Chicago, IL, March 27, 2015

"UDAP/UDAAP, Third-Party Risks and Managing Third-Party Vendors: Regulatory and Compliance Considerations for New Payment Models," American Conference Institute National Forum on The Evolving Legal, Regulatory, and Enforcement Landscape of Emerging Payment Systems, Chicago, IL, March 27, 2015

2014 Sioux Falls Card Issuer Workshop, Complimentary Seminar, November 18, 2014

Lindquist & Vennum 7th Annual Advanced Lending Seminar, Complimentary Seminar, April 24, 2014

"Credit, Debit, and Prepaid Cards: New Regulations and Reforms and Their Impact on Traditional Payment Methods," American Conference Institute National Forum on The Evolving Legal, Regulatory, and Enforcement Landscape of Emerging Payment Systems, San Francisco, January 1, 2014

"Selected Legal Issues in Project Finance," FCS Commercial Finance Group, Credit & Marketing Meeting, November 1, 2013

2012 Lindquist & Vennum Card Issuer Workshop, Complimentary Seminar, October 25, 2012

Community Activities

FarmHouse Fraternity Foundation, Trustee, 2012-present

Creighton University School of Law (J.D. 1997)

South Dakota State University (B.S. 1990)

Minnesota

South Dakota

Nebraska (Inactive)