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 service providers focusing on Fintech and payments. Ballard Spahr brings unparalleled experience in financial services to our work for clients in every corner of the growing Fintech and payments ecosystems.

We are nationally recognized for excellence in banking and financial services compliance, enforcement, and litigation, and bring those skills to the rapidly developing Fintech and payments landscape. Our decades of experience counseling banks and financial services companies allows us to develop and defend products in every U.S. jurisdiction, including those with complex laws and aggressive regulators, as well as structure and negotiate multi-party commercial agreements.

Our cross-disciplinary Fintech and Payments Team brings together banking, emerging company, and consumer financial services attorneys with lawyers focused on privacy and data security, intellectual property, blockchain and cryptocurrencies, and institutional investors.

Together, the team provides comprehensive counsel to the Fintech and payments 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 and enforcement attorneys 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 payments.

Regulatory Guidance

Our experience encompasses the full range of federal and state banking and consumer finance laws and regulations, as well as the payment network rules. 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 bank sponsorships, payment-related agreements, new product development, and the evaluation and acquisition of investment targets and asset portfolios. Our experience includes:

  • Bank-fintech partnerships, bank sponsorships, and other strategic alliances
  • Payment network, merchant, servicing, and processing agreements
  • Prepaid, stored-value, and debit cards
  • Co-brand and private label cards
  • Regulatory due diligence for clients acquiring or investing in Fintech companies and portfolios
  • Portfolio purchases and sales
  • Equity and debt capital markets transactions
  • Intellectual property strategy and guidance
  • Implementation, enforcement and regular upgrading of pre-dispute arbitration programs

Litigation and Enforcement

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 also 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)
  • Payment and network-related litigation
  • Challenges to interest rates, fees, and other contract terms
  • Compliance with the full range of federal and state consumer financial services laws, including compliance with TILA, HOEPA, ECOA, FCRA, FDCPA, RESPA, TCPA, and EFTA
  • Fair lending claims and reverse redlining
  • Privacy and data security-related beaches and incidents
  • Enforcement of arbitration provisions in commercial and consumer agreements


James Kim
Tel 646.346.8089

Ronald K. Vaske
Tel 612.371.3215