Innovation is reshaping financial services. Disruptive new technologies allow new entrants and established financial institutions to serve customers more effectively. They also provide boundless opportunities for Fintech-focused service providers. Ballard Spahr brings unparalleled experience in financial services to our work for clients in every corner of the growing Fintech market.


We are nationally recognized for excellence in financial services compliance, enforcement, and litigation, and bring those skills to the rapidly developing Fintech landscape. Our decades of experience counseling consumer and small-business finance companies allows us to develop and defend products and services in every U.S. jurisdiction, including those with complex laws and aggressive regulators.

Our cross-disciplinary Fintech team brings together consumer financial services attorneys with lawyers focused on privacy and data security, intellectual property, blockchain and cryptocurrencies, and emerging companies and their investors. Our Banking and Financial Services and Retail industry groups add further depth and specialized knowledge.

Together, the team provides comprehensive counsel to the Fintech industry—helping clients of all sizes and sophistication with the development, commercialization, and maintenance of technology-driven financial products and services, including all types of lending programs, mobile applications, and payment products and systems.

Should a dispute arise, our litigators have a demonstrated record of success defending financial institutions and technology providers across the United States in class actions, government investigations and enforcement proceedings, arbitrations, and other complex litigation. James Kim—co-leader of the team—was a senior enforcement attorney at the Consumer Financial Protection Bureau (CFPB), where he worked closely with other regulators and oversaw the Bureau’s first enforcement actions involving mobile payment systems.

Regulatory Guidance

Our experience encompasses the full range of federal and state banking and consumer finance laws and regulations. We regularly advise clients on matters involving:

  • Compliance with federal and state consumer financial services laws and licensing requirements
  • Debt collection and credit reporting
  • Privacy and data security
  • Data mining and aggregation
  • Artificial intelligence
  • Anti-money laundering and Bank Secrecy Act requirements
  • Federal preemption, Commerce Clause, and conflict of law issues
  • Compliance-management and risk-management systems
  • Marketing and advertising requirements
  • Labor and employment matters, including accessibility issues

Product Development and Transactions

Team members represent innovators and investors in the development and delivery of new products, as well as the evaluation and acquisition of investment targets and asset portfolios. Our experience includes:

  • Regulatory due diligence for clients acquiring or investing in Fintech companies and portfolios
  • Structuring Bank-Fintech partnerships and other strategic alliances
  • Payment network, merchant, servicing, and processing agreements
  • Corporate payroll systems development and implementation
  • Portfolio purchases and sales
  • Account servicing arrangements
  • Equity and debt capital markets transactions
  • Intellectual property strategy and guidance
  • Implementation, enforcement and regular upgrading of pre-dispute arbitration programs, including the most novel and consumer-friendly programs in the market today
  • Commercial agreements with third parties
  • Outsourcing transactions

Litigation

We regularly help clients navigate examinations and investigations with the CFPB, the Federal Trade Commission (FTC), federal and state banking agencies, and state attorneys general across the country.

We are a market leader in the defense of class actions, derivative actions, and other complex litigation facing Fintech companies. In addition, our attorneys have defended many cases involving issues of particular concern to lenders, including some of the most important usury cases of the past two decades.

Our litigators have handled enforcement matters, class actions and other lawsuits involving:

  • Unfair, deceptive, and abusive acts and practices (UDAAPs)
  • Challenges to interest rates, fees, and other contract terms
  • Compliance with the full range of federal and state consumer financial services laws, including challenges to clients' TILA, HOEPA, ECOA, FCRA, FDCPA, RESPA, TCPA, and EFTA compliance
  • Fair lending claims and reverse redlining
  • Marketing and advertising practices
  • Privacy and data security
  • Insurance
  • Enforcement of arbitration provisions in consumer credit contracts

Contacts

James Kim
Tel 646.346.8089
kimj@ballardspahr.com

Jeremy Rosenblum
Tel 215.864.8505
rosenblumjt@ballardspahr.com