FinTech

Stroock’s Financial Services Litigation, Regulation & Enforcement Group has extensive expertise in addressing the full range of regulatory issues implicated by emerging financial companies and technologies.  Our team includes veterans of Federal and State authorities leading the charge on financial services regulatory issues, including former senior leaders of the Consumer Financial Protection Bureau (CFPB) and New York and California State Attorney General Offices.  We advise clients on a variety of complex regulatory and compliance matters and defend them in all fora, including Federal and State courts, Federal agencies, such as the CFPB, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Securities Exchange Commission (SEC), Federal Trade Commission (FTC) and Department of Justice (DOJ), and State agencies, including the California Department of Business Oversight (DBO) and the New York Department of Financial Services (DFS).  We represent clients in every facet of the consumer financial services business, including:

  • Unsecured lending
  • Credit card lending
  • Residential mortgage lending
  • Retail banking
  • Student lending
  • Automobile leasing
  • Automobile financing
  • Other small dollar lending
  • Credit reporting
  • Collections and securities
We are at the forefront of advising clients on the broad range of regulatory and compliance issues unique to FinTech activities, from launching new FinTech providers to expanding consumer financial products to new platforms, including online and mobile applications, covering all aspects of marketing, origination, contracting, delivery and servicing of financial products.  For example, we have advised clients on utilizing mobile applications to originate loans and collect debt, including adapting their disclosure and collection practices to the mobile platform.  We also have actively litigated numerous cases on behalf of financial services companies addressing true-lender issues in many contexts, including peer-to-peer and marketplace lending, and have represented FinTech companies in connection with litigation arising out of the issuance of securities, including securities fraud claims stemming from initial public offerings.  For traditional financial services companies entering the FinTech space, our attorneys also are well versed in assessing and updating their policies and procedures, as well as their disclosure and consent frameworks, in connection with the implementation of new financial technology.
 
Our experience covers the full range of issues affecting FinTech companies, including, among others: 

  • Credit CARD Act
  • Truth in Lending Act (TILA)
  • Fair Debt Collection Practices Act (FDCPA)
  • Fair Credit Reporting Act (FCRA)
  • Fair Credit Billing Act (FCBA)
  • Home Ownership and Equity Protection Act (HOEPA)
  • Electronic Fund Transfer Act (EFTA)
  • Equal Credit Opportunity Act (ECOA)
  • Fair Housing Act (FHA)
  • Real Estate Settlement Procedures Act (RESPA)
  • Telephone Consumer Protection Act (TCPA)
  • CAN-SPAM Act
  • State and Federal Privacy Laws
  • Unfair, Deceptive and Abusive Acts and Practices (UDAAPs)
  • Unfair Competition Laws 
We have deep experience with both litigation and investigations arising under these statutes, as well as similar statutes under State laws.  FinTech companies thus are able to leverage Stroock’s deep experience with the financial services industry, as well as our familiarity with online and mobile platforms, to obtain timely, pragmatic advice and solutions covering the full spectrum of consumer finance issues.

Additionally, Stroock’s Intellectual Property Group has extensive experience advising clients who invest in, fund, develop and market innovative services and products within the financial services and technology industries.  We prepare, negotiate and conduct due diligence regarding the intellectual property and information technology aspects of a broad range of complex corporate transactions relating to FinTech, including mergers and acquisitions and joint ventures.  Frequently, these transactions involve ancillary IP and software license, transition services and outsourcing agreements.  In addition, our representations include preparing and negotiating standalone intellectual property and information technology agreements relating to FinTech.  Stroock’s FinTech lawyers also have significant experience advising the firm’s capital markets and financial services clients on protecting their own and designing around others’ financial indices and financial technology patents, preparing patent applications and providing freedom to operate opinions.

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Attorneys in this Group


NAME TITLE OFFICE
Ian G. DiBernardo Partner New York

Ian G. DiBernardo
Partner
New York

Benjamin G. Diehl Special Counsel Los Angeles

Benjamin G. Diehl
Special Counsel
Los Angeles

Shannon E. Dudic Special Counsel Los Angeles

Shannon E. Dudic
Special Counsel
Los Angeles

Jeffrey M. Mann Special Counsel New York

Jeffrey M. Mann
Special Counsel
New York

Marija Pecar Associate New York

Marija Pecar
Associate
New York

Arjun P. Rao Partner Los Angeles

Arjun P. Rao
Partner
Los Angeles

Binni N. Shah Associate New York

Binni N. Shah
Associate
New York

Jason M. Sobel Partner New York

Jason M. Sobel
Partner
New York

Julia B. Strickland Partner Los Angeles

Julia B. Strickland
Partner
Los Angeles

Quyen T. Truong Partner Washington, DC

Quyen T. Truong
Partner
Washington, DC