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American Fintech Council Policy Summit 2025

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Morrison Foerster is proud to sponsor the 2025 American Fintech Council Policy Summit, an event that brings together leading...

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Morrison Foerster is proud to sponsor the 2025 American Fintech Council Policy Summit, an event that brings together leading voices from the industry and government to exchange insights, explore emerging trends, and shape the future of financial technology.MoFo partner Avy Mallik will moderate the session “Credit Where Credit is Due: Fintech’s Lending Revolution” from 2:30 PM – 2:55 PM ET, while MoFo partners Matthew Bornfreund and Evan Minsberg will participate as panelists in the session “What’s in a name? A discussion of the meaning and impact of an FBO Account” from 10:00 AM – 11:00 AM ET.To view the full agenda and for more information on the summit, visit the <a href="https://summit.fintechcouncil.org/" target="_blank">event website</a>.<hr>

American Fintech Council Policy Summit 2025

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Avy Mallik is a partner in Morrison Foerster’s Financial Services Group. His practice focuses on financial services regulation and enforcement, with a particular emphasis on emerging technologies, including fintech, artificial intelligence (AI), and digital assets.Avy advises banks, fintechs, and other financial institutions on a broad range of financial regulatory issues, including consumer protection, investor protection, payments, money transmission, banking law, BSA/AML compliance, financial privacy, and the use of emerging technologies in financial services.Before joining Morrison Foerster, Avy served as General Counsel to the California Department of Financial Protection and Innovation (DFPI), appointed by California Governor Newsom, and oversaw the office’s Legal Division, Securities Regulation Division, Broker Dealer and Investment Advisor Division, and Digital Financial Assets Law Division. In his time as General Counsel, Avy has overseen landmark legislative and regulatory initiatives, including the drafting and implementation of California’s Digital Financial Assets Law, and he has managed high profile enforcement and policy responses to major bank failures and emerging fintech issues. Previously, he served as Director of Fintech Policy for the Financial Services Committee at the U.S. House of Representatives, leading the task forces on AI in the Financial Services, Fintech, and the Digital Assets Working Group. He has also served as Assistant Attorney General for the Consumer Protection Division of the Office of the Maryland Attorney General and Director of the Foreclosure Prevention Program and Foreclosure Prevention Staff Attorney at Civil Justice.Avy is regularly invited to speak on legal and policy issues related to financial innovation and has testified before legislatures and briefed state, federal, and international policymakers on emerging regulatory challenges related to fintech products, digital assets, and AI.Avy earned his J.D. from Georgetown University Law Center and a B.A. in English Literature from Reed College.

Avy Mallik

Partner

As a former attorney in the Legal Division of the Federal Reserve Board, Matthew advises bank and bank holding company clients on matters such as chartering and licensing, capital and liquidity requirements, permissible activities and investments, affiliate transactions, and third-party risk management. He combines deep knowledge of the regulatory environment with operational insights as he counsels Fintechs and payment services providers on a wide range of bank-related compliance issues, including card network rules, ACH network rules, and anti-money laundering requirements. Matthew assists international banks with their entry into the U.S. market, which includes managing the application process with state and federal banking regulators. International banks also look to him for ongoing advice on operational compliance, managing BSA/AML and OFAC/sanctions obligations, and addressing issues under Regulation K and Regulation Y, among others. He facilitates partnerships between financial institutions and Fintechs in areas such as banking as a service (BaaS), creating payments applications, establishing integrated financial products, and more. Matthew has a unique background that includes IT experience, which helps bridge the gap between banks and their third-party service providers, assisting with the development of vendor risk management programs. Matthew earned his J.D. cum laude from the George Washington University Law School. He received his B.A. in international relations and his B.A. in economics from the University of Central Florida.<h4>Representative Experience</h4><ul><li>Provides ongoing advice to a national bank regarding the application of the Volcker Rule to the bank’s investment portfolio </li><li>Advised a state-nonmember bank on the application of Regulation O to an internal program that permitted senior officers to purchase CDs </li><li>Advised a national bank on classification of various platform and program deposits under the FDIC’s brokered deposit rule </li><li>Advised a European bank on applying for a de novo national bank charter </li><li>Advised a financial holding company with a national bank subsidiary on the implications of the Bank Merger Act for the dissolution of a joint venture and the subsequent transfer of assets back to the bank </li><li>Advised a regional state-nonmember bank on regulatory application issues in connection with its acquisition of a bank in another state </li><li>Advised an Asian bank on applying for a representative office </li><li>Advised an Asian bank on the impact of Regulation W on international trade finance and discounting transactions involving both U.S. and non-U.S. affiliates </li><li>Advised a national bank on making permissible investments, including under SBIC and RBIC programs, and on Volcker Rule compliance for various derivative transactions </li><li>Advised multiple banks on structuring new activities and, when necessary, confirming approaches with federal banking agencies </li><li>Advised several Fintech companies in negotiations with sponsor banks for merchant payment processing or payment facilitation </li><li>Advised a large bank participating in an SNC syndicated loan on exceptions to the attribution rule under Regulation W </li><li>Advised a large online lending platform in negotiations with a bank partner to establish a BaaS product </li><li>Advised a payment services provider in responding to state regulatory inquiries </li><li>Assisted a global bank in regulatory compliance review related to moving systems infrastructure to a cloud-based platform </li><li>Assisted a global technology company in preparing for a regulatory examination under the Bank Services Company Act</li></ul>

Matthew Bornfreund

Evan Minsberg advises Fintech, payments, and technology companies, as well as financial institutions, on structuring and launching regulated financial products and commercial ecosystems.His practice is centered on bank-Fintech partnerships, payments infrastructure, money movement, and the regulatory frameworks that underpin innovative financial services ecosystems. He is a go-to advisor on banking-as-a-service (BaaS), money transmission and licensing, sponsor bank and payment network arrangements, and complex commercial relationships between regulated financial institutions and technology platforms. He is among a small number of practitioners with deep knowledge at the intersection of financial services regulation, payment network governance, and digital asset and stablecoin-enabled transactions—areas that increasingly define the architecture of next-generation financial products and payment systems. His work combines regulatory strategy with commercial execution, enabling clients to launch new products, structure partnerships, modernize payments infrastructure, and scale regulated platforms.Evan represents a diverse client base spanning high-growth Fintech and embedded finance companies, leading sponsor banks, global payments companies, card networks, and major technology platforms. Clients rely on him to navigate complex regulatory and commercial issues across banking, payments, and emerging financial technologies, particularly in connection with large-scale partnership and payments infrastructure initiatives. Recognized by Chambers USA for FinTech Legal: Payments and Lending and by other leading industry publications, Evan is praised by clients for his practical, solutions-oriented approach and ability to navigate novel regulatory challenges. One client notes that he is “able to come up with novel solutions that minimize risk and unlock significant opportunities for our business.”Evan also advises gaming, software, and digital platform companies on monetization strategies, virtual economies, digital wallets, creator and marketplace payment flows, and other financial regulatory issues arising from interactive and digital commerce ecosystems. He is co-chair of Morrison Foerster’s Interactive + Digital Media industry group, where he focuses on video games, gaming platforms, and the convergence of digital economies, payments infrastructure, and financial services regulation.Prior to joining MoFo, Evan worked in the financial services teams of two other leading law firms.<h4>Representative Experience</h4><h5>Bank-Fintech Partnerships and Embedded Finance</h5><ul><li>Represent a technology-focused national bank in the structuring, negotiation, and launch of BaaS, debit card, and payments partnerships with leading Fintech platforms. Advise on novel deposit account structures, ACH origination and third-party sender arrangements, program management frameworks, and related regulatory and transactional issues associated with the bank’s public launch and rapid growth.</li><li>Represent a major regional bank in a broad range of BaaS and embedded finance matters, including Fintech program management agreements, sponsor processing arrangements, third-party risk management enhancements, AML and sanctions compliance, and regulatory diligence across payments, payroll, ACH, digital asset, and money movement platforms.</li><li>Advise a leading sponsor bank on the structuring and negotiation of Fintech-sponsored payment and credit programs, including innovative SBA lending, commercial finance, digital asset-secured credit products, and large-scale embedded finance partnerships.</li><li>Represent a leading global payments and card issuing platform on BaaS, AML, card-issuing, sponsor bank, and embedded lending matters, including bank partnership agreements, downstream Fintech oversight, and lending and card program structures.</li><li>Represent a Fintech infrastructure company in the structuring and negotiation of sponsor bank arrangements for lending and payment processing products, including loan origination and purchase programs, payment services frameworks and use of sponsored (FBO) accounts, customer-facing agreements, and related warehouse financing support.</li></ul><h5>Payments, Money Movement, and Network Infrastructure</h5><ul><li>Represent a leading U.S. payment card network in the comprehensive modernization and restructuring of its network operating rules and participant framework, including new sponsorship, payment facilitator, program manager, and digital wallet concepts, as well as related interchange, routing, and network governance issues.</li><li>Represent a global payments company in the regulatory and money transmission aspects of a significant Fintech acquisition transaction, including state licensing approvals, change-of-control strategy, regulatory diligence, and management of concurrent state supervisory examinations.</li><li>Serve as regulatory and transactional counsel to a global payments and financial technology company on money transmission licensing, payment processing arrangements, card network compliance, and complex commercial agreements across a broad range of payment and software products.</li><li>Advise a merchant acquiring and marketplace platform on the development of digital asset payment and on-/off-ramp services, including fiat and stablecoin payout functionality, self-custodied wallet features, and integration of first- and third-party technology solutions, with guidance on money transmission, payments, AML, and product structuring considerations.</li></ul><h5>Digital Assets, Stablecoins, and Emerging Financial Products</h5><ul><li>Represent Fintech and infrastructure companies developing digital asset, decentralized finance, and open banking products, including advice on AML, sanctions, money transmission, and securities law considerations associated with decentralized payment and on-/off-ramp protocols.</li><li>Advise a leading stablecoin issuer and digital asset platform on money transmission, AML, product structuring, and regulatory compliance considerations relating to next-generation stablecoin infrastructure and payment products, including cross-chain transfer protocols, wallet and custody architecture, agentic wallet functionality, embedded payments infrastructure, and stablecoin-secured card programs.</li><li>Advise a Fintech platform on the structuring and regulatory compliance of digital asset on-ramp and off-ramp payment services, including fiat FBO account arrangements, third-party custody relationships, funds-flow architecture, and related money transmission, AML, and bank partnership considerations.</li></ul><h5>Digital Media, Gaming, and Virtual Economies</h5><ul><li>Serve as primary outside regulatory counsel to a global gaming and interactive entertainment company on financial regulatory issues arising from virtual currencies, in-game monetization, creator revenue-sharing, integrated payments, and cross-border digital commerce models.</li><li>Advise a leading software development and digital distribution platform on financial regulatory issues relating to marketplace payments, stored value and virtual currency functionality, rewards and loyalty programs, wallet architecture, and the application of money transmission and related financial services laws to platform monetization and user payment flows.</li><li>Advise a merchant-of-record and digital commerce platform on card network compliance, creator payout structures, marketplace and payment terms, and regulatory considerations relating to payments and monetization flows for video game and digital content creators.</li></ul>

Evan Minsberg

Digital Assets + Blockchain

Fintech

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American Fintech Council Policy Summit 2025

18 Nov 2025