Evan R. Minsberg

Evan Minsberg counsels fintech companies, banks, ecommerce platforms, and others on product development, strategic partnerships, and regulatory compliance. He routinely advises non-bank companies on the state licenses, compliance programs, bank sponsorships, and other agreements needed to bring innovative services to market and assists banks in structuring relationships with their fintech partners. Evan focuses on financial services providers in the payments, credit, and data analysis industries.

Representative Experience

Payments and Banking as a Service (BaaS)

Evan counsels banks, payments companies, marketplaces, and others on:

• Federal and state money transmission issues, including licensing requirements and exemptions, bank partner and authorized delegate arrangements, funds flow, and account structures
• Agreement structure, negotiation, drafting, and compliance issues for merchant acquiring, card and deposit account issuing, automated clearing house (ACH), and other arrangements
• Compliance with payment network rules, including aggregator and marketplace issues, surcharges and other fees, and ACH third-party sender requirements
• Bank Secrecy Act and anti-money laundering requirements for banks, money services businesses (MSB), and service providers

Credit Products and Services

Evan advises direct lenders, bank partner arrangements, brokers, and lead generators on consumer and commercial credit issues, including:

• State licensing requirements and exemptions for lenders, brokers, lead generators and others
• State usury requirements for consumer and commercial credit, including revenue-based financing arrangements
• Agreement structures, negotiation, drafting, and compliance issues for various partnerships, including bank partner/platform models, “true lender” and Madden issues, and lead generation arrangements with banks, direct lenders, and other credit providers

Data Sharing and Use

Evan advises data analytics companies, consumer reporting agencies, and financial services companies, on their obligations under the federal Fair Credit Reporting Act (FCRA) and Title V of the Gramm-Leach-Bliley Act (GLBA) and their state equivalents. He counsels on matters such as:

• Determining whether a particular collection, distribution, and use of personal data would constitute a “consumer report” triggering FCRA compliance obligations
• Database structures, information flow, data sharing between affiliates and non-affiliates, and re-seller requirements under FCRA and GLBA
• Legal and contractual requirements for use of FCRA and non-FCRA regulated data products