Payment Systems

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Lindquist & Vennum works with banks and non-bank financial services companies, program managers and other market participants, large and small, who serve both prime and underbanked consumers. Our clients include some of the largest credit and prepaid card issuers in the nation and a variety of other organizations active in emerging payments and consumer financial services.

We provide a higher level of service by offering clients “real world” perspective on emerging payment systems and consumer financial services. Our lawyers include former bankers, bank in-house counsel and regulators.

Our experience in payment systems dates back to the origins of the industry, including participation in the 1978 Marquette ruling that nationally-chartered banks may export the usury laws of their home state to consumers in states with stricter usury limits. Today, our practice continues to be on the forefront of issues affecting financial institutions and service providers in a time of change and challenge.

Experience
  • On behalf of some of the nation’s largest card-issuing banks, advising in all aspects of compliance, examination, regulatory supervision, and litigation issues.
  • Serving as in-house counsel to a card-issuing bank and implementing and administering a variety of debit and credit products and services in partnership with the card associations and a number of nationally-recognized processors, reload networks and program managers.
  • Representing card-issuing banks sponsoring third party program managers into the various card associations.
  • Representing third party program managers, marketers and financial service providers in the development and administration of various consumer financial products, including credit cards, prepaid cards, payday loans, online and mobile banking services, e-wallet products and services, and ancillary products and services.
  • Leading a team of litigators against the Consumer Financial Protection Bureau (CFPB that became the first in the nation to successfully block the implementation of a Regulation Z amendment adopted by the Board of Governors of the Federal Reserve System in 2011.
  • Reviewing 3rd party sponsorship arrangements for card-issuing banks.
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Covering All the Angles

Our Payments Systems and Consumer Financial Services Lawyers have substantial legal and industry experience with a variety of payment solutions, including the following:

  • Credit, Prepaid and Debit Cards
  • Deposit Advance Products
  • Online and Mobile Banking and Payments
  • Savings Products
  • Corporate Cards
  • Check Collection
  • Installment Loans
  • Bill Payment Services
  • Lines of Credit
  • ACH Transactions
  • Overdraft Protection
  • Remote Deposit Capture

Services Provided

  • Product Development and Marketing
  • Business and Consumer Agreements
  • Regulatory Compliance and Third Party Risk Management
  • Data Security and Privacy
  • Disputes, Litigation and Regulatory Investigations

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