FinTech, Banking & Payments

Our financial services regulatory attorneys previously served as in-house counsel at financial services companies where they implemented FinTech offerings, including prominent player Cross River Bank. We leverage this experience to provide insightful and strategic counsel to financial services companies and FinTech companies in the development, implementation, and execution of risk management frameworks—including tailored consumer and financial crime compliance management systems (CMS)—that identify, manage, and control the risks associated with the development, offering, and delivery of cutting-edge FinTech products and services, such as MPL, BNPL, BaaS, and more.

We have deep knowledge and extensive experience with the regulatory issues associated with each phase of the life cycle, such as compliance with federal and state consumer-protection laws and regulations; fair lending statutes and regulations; the Community Reinvestment Act (CRA); BSA/AML and OFAC regulations; and other AML and economic sanctions program requirements for offering, originating, and/or servicing FinTech products and services in the U.S., EU, and Latin America.

We also advise regulated institutions and their boards facing threatened informal and formal enforcement matters, including MRAs, board resolutions, MOUs, cease-and-desist orders, prohibition, restitution, and civil money penalty actions in consent orders or contested proceedings.

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We advise a wide range of financial services clients on federal and state supervisory examinations and in developing and implementing corrective action and remediation responses for numerous agencies, including, the Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), Treasury / Office of Foreign Assets Control (OFAC), New York State Department of Financial Services (NYDFS), New Jersey Department of Banking and Insurance (NJDOBI), and Florida Office of Financial Regulation (FOFR).

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We represent lenders and both new and established FinTech companies on formation, program development and structuring, bank partnerships, regulatory compliance, debt and equity financing, forward flow sale transactions, and securitizations. Our team is a recognized leader in the industry, with a particular focus on bespoke structures and emerging and/or “esoteric” asset classes. Our FinTech clients span a broad array of asset types, including BNPL, consumer lending, franchise lending, healthcare payment plans, point of need lending, point-of-sale finance, real estate finance, and small business lending, as well as various stages in the business cycle, from startups to mature market leaders. Our transactions have been shortlisted for deal of the year awards, and several of our practitioners have been recognized as leading lawyers in the field.

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Our M&A / Private Equity attorneys handle the full range of financial services deals for public and private FinTech and payment firms, from M&A transactions and minority investments to assistance with asset purchases that typically accompany fund reorganization transactions. Our market-leading team leverages its vast experience to advise clients in optimizing deal structure, ensuring speed-to-market execution, and protecting client interests in all phases of transactions.

Additionally, Winston serves as outside general counsel to several FinTech portfolio companies and their management teams. We have significant experience with general corporate governance, regulatory/compliance matters, benefits, bank amendments, add-on financings, refinancings and restructurings, and IPOs. Our team understands the strategic and operational needs of portfolio companies and has developed a wide range of service delivery models that enable our portfolio company clients to manage their legal costs better.

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We understand the nuances between different types of FinTech companies and the varied regulatory requirements for payment firms. We regularly counsel payment firms on strategy and legal risks, and requirements at the national and state levels. We understand the benefits and challenges of charters and bank partnerships with FinTech companies, and we assist with the licensing process and related issues for domestic payment firms and international companies entering the U.S. marketplace.

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Rapid growth in the digital asset space, combined with regulatory uncertainty, makes it difficult for companies to know what standards to follow. Companies participating in the industry and their partners should ensure that policies, procedures, and operations are properly scaled, as failure to do so can result in enforcement actions. Winston’s cross-practice Digital Assets & Blockchain Technology Group helps clients navigate existing and developing legal challenges surrounding blockchain technologies. Our team draws upon experience from lawyers in our corporate, securities, tax, litigation, regulatory, and intellectual property practices, as well as others, to advise clients from startups and DAOs to the largest financial services firms in the world. We are recognized thought leaders and are called upon by government officials, regulators, and major institutions to guide blockchain technology, and we have taught and published widely on blockchain regulation. Our presence in Miami, Silicon Valley, New York, London, and other international hubs gives us a global perspective on legal and regulatory developments in the industry.

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On behalf of FinTech companies, we negotiate and draft IP licenses and transfers; provide strategic guidance on optimal structures for IP and IT transactions; evaluate copyright, trademark, and patent portfolios; and handle related due diligence activities. We also represent financial institutions in patent infringement suits and have successfully defended a global financial institution in defending its proprietary technology related to payment processing, mobile check deposits, and electronic bank transactions.

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We regularly represent venture capital firms, corporate venture funds, and other strategic investors, family offices, angel investors, and high-net-worth individuals in connection with their equity and debt investments in FinTech companies. We have extensive experience with all stages of venture capital financings, including seed-stage, early-stage, and growth-stage financings, with transaction sizes ranging from US$500,000 to US$1B or more.

Our Privacy & Data Security attorneys have extensive financial industry knowledge with a history of representing companies before domestic and international regulatory agencies, legislatures, and courts. Our attorneys also help clients navigate through arbitration panels and international tribunals. Our experience includes counseling clients on the electronic delivery of financial services and the establishment of internet banking programs, advising financial institutions on Gramm-Leach-Bliley compliance, and representing clients before the CFPB.

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