Glen P. Trudel

Tel 302.252.4464
Fax 302.252.4466

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.

Representative Matters

  • 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.
  • Provided consumer and business credit card and related regulatory counsel and drafting for a new credit card issuer in bringing its credit card programs to market
  • Counseled and documented a "bank model" program structure and all related documentation for a marketplace lender/Fintech platform
  • Counseled and documented loan purchase and sale agreements and related documentation in connection with sales of "marketplace lender" loans to institutional buyers
  • Provided regulatory counsel to "marketplace lenders" and Fintech platforms
  • 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, and other financial entities
  • 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 incentive 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

Pro Bono Activity

Glen is a frequent participant in the firm's Wills for Heroes Program and was one of the event organizers for the program's launch in Delaware

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

Recognition & Accomplishments

Top Lawyer of 2017 and 2018, Bank Law, Delaware Today


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

Co-author, "Two Banks Fight Back Against Colorado Regulator in Bank-Model Dispute," Ballard Spahr alert, April 6, 2017

Co-author, "OCC Issues Draft Licensing Supplement for Fintech Companies Seeking National Bank Charters," Ballard Spahr alert, March 24, 2017

Co-author, "Lawmaker Seeks CFPB Fair Lending Investigation of Fintech Small Business Lenders," Ballard Spahr alert, March 16, 2017

Co-author, "Sixth Circuit Denies Arbitration in TCPA Class Action for Calls to Past Customers," Ballard Spahr alert, February 21, 2017

Co-author, "NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability," Ballard Spahr alert, February 14, 2017

Co-author, "OCC Proposes to Grant National Bank Charters to Financial Technology Companies," Ballard Spahr alert, December 9, 2016

Co-author, "Supreme Court Denies Certiorari To Review Second Circuit’s Decision in Madden v. Midland Funding, LLC," Ballard Spahr alert, June 28, 2016

Co-author, "Installment Lender Using Bank Partner Model Needs Maryland License, Court of Appeals Rules," Ballard Spahr alert, July 15, 2016

Co-author, "Regulators Raise Marketplace Lending Concerns at FTC Fintech Forum," Ballard Spahr alert, June 21, 2016

Co-author, "Solicitor General/OCC Opine Madden Was Incorrectly Decided, But Recommend Denial of Supreme Court Review," Ballard Spahr alert, May 26, 2016

Co-author, "Treasury Releases White Paper on Online Marketplace Lending," Ballard Spahr alert, May 13, 2016

Co-author, "Best Practices Issued for Small Business Alternative Finance Industry," Ballard Spahr alert, April 19, 2016

Co-author, "California Releases Marketplace Lending Data," Ballard Spahr alert, April 13, 2016

Co-author, "FDIC Developing Guidance on Risks for Banks Lending Through Third Parties," Ballard Spahr alert, March 23, 2016

Co-author, "FDIC Highlights Marketplace Lending Risks for Bank Partners," Ballard Spahr alert, February 5, 2016

Co-author, "PA Federal Court Ruling Illustrates Need for Lenders to Properly Structure Bank Partnerships," Ballard Spahr alert, January 27, 2016

Co-author, "Maryland Licensing Threat to Bank Partner Model to be Reviewed by Court of Appeals," Ballard Spahr alert, December 22, 2015 

Co-author, "California Launches Marketplace Lending, Merchant Cash Advance Inquiry," Ballard Spahr alert, December 21, 2015

Co-author, "U.S. Supreme Court Asked to Decide Whether National Bank Act Preemption of State Usury Laws Applies to Loans Transferred to Non-Banks," Ballard Spahr alert, November 12, 2015

Co-author, "Federal Reserve Bank of Cleveland Reports on Online Small Business Lending Focus Groups," Ballard Spahr alert, September 3, 2015

Co-author, "Treasury Department Seeks Information on Online Marketplace Lending," Ballard Spahr alert, July 20, 2015

Co-author, "OCC Report Identifies Risks to Banks, Sets Supervisory Priorities," Ballard Spahr alert, July 9, 2015

Co-author, "FTC Announces Settlement with Debt Collector over Alleged FDCPA Violations," Ballard Spahr alert, July 1, 2014

Co-author, "Treasury Department Extends Comment Period for Online Marketplace Lending Information Request," Ballard Spahr alert, April 19, 2015

Co-author, "OCC To Revise Handbook on Deposit-Related Consumer Credit," Ballard Spahr alert, February 20, 2015

Co-author, "OCC Updated Examiner Guidance Includes New Overdraft Protection Program Requirements," Ballard Spahr alert, February 19, 2015

Co-author, "Collection Letter Requiring Written Dispute Violated FDCPA, Fourth Circuit Holds," Ballard Spahr alert, February 6, 2014

Co-author, "CFPB Proposes Sweeping Changes for Prepaid Cards," Ballard Spahr alert, November 14, 2014

Co-author, "Is a Uniform Debt Buying Code on Its Way?" Ballard Spahr alert, September 3, 2014  

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

Co-author, "Federal Reserve Publishes Guidance on Managing Outsourcing Risk of Service Provider Relationships," Ballard Spahr alert, December 12, 2013

Co-author, "FTC Settles First Case Challenging Debt Collector's Use of Text Messages," Ballard Spahr alert, October 4, 2013

Co-author, "OCC Signals Increased Agency Attention to Debt Sales," Ballard Spahr alert, July 19, 2013

Co-author, "CFPB Plans Continued Scrutiny of Credit Card Practices," Ballard Spahr alert, October 3, 2013

Co-author, "Collection Letter Requiring Written Dispute Violated FDCPA, Second Circuit Holds," Ballard Spahr alert, June 6, 2013

"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

Co-author, "CFPB Issues Second Annual Report on FDCPA Activities," Ballard Spahr alert, March 26, 2013

Co-author, "Collection Letter Inviting Debtor To Call Toll-Free Number Violated FDCPA, Third Circuit Holds," Ballard Spahr alert, March 14, 2013

Co-author, "FTC Issues 2012 Complaints Report," Ballard Spahr alert, March 5, 2013

Co-author, "Prevailing Defendant Can Recover Costs in FDCPA Suit Not Filed in Bad Faith, Supreme Court Rules," Ballard Spahr alert, February 28, 2013

Co-author, "FTC Continues To Target Debt Collectors and Debt Relief Companies," Ballard Spahr alert, February 11, 2013

Co-author, "FTC Issues Debt Buying Industry Study," Ballard Spahr alert, February 1, 2013

Co-author, "NACHA Council Issues Final Guidelines for Using Quick Response Codes for Consumer Bill Payments," Ballard Spahr alert, January 30, 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

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

Speaker, "Card Issuers Workshop," Ballard Spahr workshop, Minneapolis, May 14, 2019

"Banking and regulatory expectations in today's third-party risk management world," American Banker/Venminder webinar, April 16, 2019

"A Discussion of Co-Brand Credit Card Rewards and Loyalty Programs," Consumer Finance Monitor Podcast, March 28, 2019

Discuss vendor risk management issues with Branan Cooper of Venminder, Venminder, Inc. Podcast, April 13, 2018

"Industry Review and the Importance of Vendor Due Diligence and Oversight," The Ultimate Vendor Management Bootcamp Webinar, September 13, 2018

"Bringing Your 'A' Game to Third Party Risk Management," American Banker On-Demand Web Seminar, August 21, 2018

"Getting the Legals Right: Making Sure You Get All Your Agreements Right," Co-Brand Americas Conference, May 22, 2018 

"The OCC Fintech Charter—A New Way or D.O.A.?" Delaware Bankers Association FinTech Forum, September 21, 2017 

"Risk Management of Third Party/Service Provider Relationships," Ballard Spahr webinar, July 25, 2017

"The OCC's Licensing Manual Supplement – What It Means for Fintech Companies Seeking National Bank Charters," Ballard Spahr webinar, April 18, 2017

"The CFPB's Consumer Credit Card Market RFI and Other Important Recent Credit Card Developments," Ballard Spahr webinar, April 13, 2017 

"Controlling Compliance Risks in Third-Party Incentive Compensation," Ballard Spahr webinar, February 1, 2017

"The New OCC Fintech Charter – The Good, The Bad, and The Still Unknown," Ballard Spahr webinar, January 24, 2017

"Bank Model Lending in the Aftermath of the Supreme Court's Refusal To Hear Madden," Ballard Spahr webinar, August 16, 2016

"What's Next in Marketplace Lending – Our Predictions for Regulation, Enforcement, and Litigation," Ballard Spahr webinar, April 29, 2016

"CFPB's 2015 CARD Act Report Identifies Continuing Concerns About Credit Card Practices," Ballard Spahr webinar, January 15, 2016

"New and Threatened Regulatory Limits on Overdrafts and ‘Deposit-Related Consumer Credit Products’," Ballard Spahr webinar, March 11, 2015

"The Legal ABCs of P2Ps," Ballard Spahr webinar, February 10, 2015

"A Whole New World—the CFPB’s Proposed Rule on Prepaid Accounts," Ballard Spahr webinar, December 12, 2014

"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

Georgetown University Law Center (J.D. 1987)

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