Artificial Intelligence
United States
08 August 2024
Venable LLP provides regulatory advice to clients across the payments, fintech, and banking sectors, assisting with compliance, licensing, and the development of consumer lending products. The team also represents clients in regulatory investigations and enforcement actions brought by agencies such as the CFPB and FTC. In addition to handling compliance matters, the firm advises on operational risks and regulatory requirements affecting financial institutions. The practice is led by four partners, with Ellen Berge and Andrew Bigart focusing on payments and fintech-related regulatory issues, including licensing and compliance frameworks. Michael Bresnick, Leonard Gordon, and Jonathan Pompan handle enforcement matters, representing clients in investigations and proceedings initiated by regulatory agencies, including the DOJ. Gordon serves as the key contact in New York, while the rest of the team is based in Washington DC
Legal 500 Editorial commentary
Accolades
Client satisfaction
Testimonials
Collated independently by Legal 500 research team.
‘Venable stands out in the payments industry due to its in-depth knowledge of the field, encompassing regulations, technologies, and market trends. Their team comprises experienced professionals, often attorneys specializing in areas like financial services, regulatory compliance, and litigation. This expertise enables Venable to provide clients with clear and actionable business advice, empowering them to make informed decisions, mitigate risks, and capitalize on opportunities within the dynamic and ever-changing payments landscape.’
Key clients
- Global Payments
- ACTIVE.com
- Associations, Inc. d/b/a Community Management Corporation
- Greater Chautauqua Federal Credit Union; Boulevard Federal Credit Union; Greater Niagara Federal Credit Union
- Applied Data Finance d/b/a Personify
- Clarion Capital Partners, LLC
- Carta
- Cavalry Portfolio Services, LLC
- Jack Henry
Work highlights
Advised Global Payments, Inc. on all aspects of regulatory compliance, transactional and government affairs, and federal investigations, and defended its subsidiary, ACTIVE, in an enforcement action proceeding.
Advised Jack Henry on meeting CFPB and federal banking agency supervision expectations to leverage its compliance management system and solidify its reputation as a core service provider to consumer-facing financial institutions.
Defended Associations, Inc. in private litigation and class action lawsuits that challenged their fee practices, with outcomes that could significantly impact their business model and set precedents for the broader payments industry.
Lawyers
Practice head
Ellen Berge; Andrew Bigart; Jonathan Pompan; Michael Bresnick; Leonard Gordon