The Fintech industry’s explosive growth presents numerous opportunities for payments companies, lenders, and other financial services providers. This growth, however, has attracted the attention of regulators at both the federal and state levels. Many of these regulatory initiatives provide new opportunities for fintech companies, while others serve as cautionary tales for failing to heed regulatory requirements. This session will explore the intersection of payments and Fintech, including recent legal and regulatory developments relevant to bank charters, money transmission, lending, and data privacy and cybersecurity.
Washington, District Of Columbia
Mr. Bigart's practice focuses on payments issues, anti-money laundering and economic sanctions, and business counseling. Mr. Bigart has worked with clients in a variety of industries including financial service companies, broker-dealers, banks, payment processors, nonprofit associations, and online marketers and advertisers. He tracks developments in these industries closely, and that knowledge, coupled with his strong background in administrative law, enables him to help clients navigate the dynamic regulatory landscape.
Mr. Bigart represents payments companies to address the legal, operational, and business challenges of transaction processing. He frequently provides guidance in the areas of merchant underwriting and risk management, agreement negotiations, and investigations involving federal and state law enforcement agencies.
Mr. Bigart has significant experience counseling clients on a variety of advertising, marketing, consumer protection, and general business issues, with a focus on financial institutions, financial services companies, and technology companies providing payment and related services. In these areas, he assists clients with ongoing regulatory compliance matters, civil and criminal investigations, and litigation before the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and state attorneys general.
Anti-Money Laundering and Economic Sanctions
Mr. Bigart advises financial institutions, broker dealers, and financial services companies regarding anti-money laundering matters before the Securities and Exchange Commission (SEC), Financial Crimes Enforcement Network (FinCEN), FINRA, and other financial regulators. In addition, Mr. Bigart advises clients on compliance with the Foreign Corrupt Practices Act (FCPA), the economic sanctions laws administered by the Office of Foreign Assets Control (OFAC), and other international trade matters, including the Committee on Foreign Investment in the United States (CFIUS).
Thursday, May 11
4:00 PM – 5:00 PM
New York, New York
Mr. Minsberg focuses on financial services regulation, including laws and regulations applicable to secured and unsecured consumer and commercial credit, money transmission and payments systems, and consumer reporting and data analytics. Mr. Minsberg advises a wide variety of clients on compliance with financial regulatory laws, including the Consumer Financial Protection Act, Bank Secrecy Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Equal Credit Opportunity Act, Electronic Funds Transfer Act (Regulation E), Real Estate Settlement Procedures Act, Truth in Lending Act (Regulation Z), and other laws enforced by the CFPB, FTC, FinCEN, and state financial regulatory agencies.
Mr. Minsberg assists companies in understanding and obtaining necessary licenses and approvals to conduct lending, brokering, collections, credit sale, and money services business activities at both the state and federal levels. He is also active in performing due diligence on target companies in the lead generation, marketplace lending, and payments industries on behalf of private equity, venture capital, and other investment companies.
Prior to joining Venable, Mr. Minsberg worked on financial services regulatory matters for several years at a prominent global law firm.
Mr. Minsberg graduated cum laude from The George Washington University Law School and received his B.A. with honors from Haverford College.
Thursday, May 11
4:00 PM – 5:00 PM