David E. Teitelbaum

Representative fintech matters include:

• Represent virtual currency businesses in money services and virtual currency licensing matters, including in obtaining multistate licensing approvals for initial formation activity as well as in connection with mergers and acquisitions.
• Assist in the formation of joint programs between technology companies and regulated financial services providers, including banks, broker-dealers and money transmitters, for delivery of novel consumer financial services. 
• Assist a leading mobile wallet provider in the creation of a person-to-person payment service, including the negotiation of underlying banking relationships.
• Represent a mobile payments start-up in all aspects of its payment product, including a soup-to-nuts evaluation of regulatory issues, state licensing, creation of cardholder documentation and disclosures and negotiation of agreements with banks and processors.
• Represent a social payments start-up in connection with the regulation of its in-game payment services.
• Advise payment processors, payment facilitators and marketplace platform providers (and investors in such entities) on state licensing issues associated with their roles in payment transactions, including by structuring relationships to avoid licensing issues or assisting clients in multistate licensing efforts.
• Obtain approval for the acquisition of control of state-licensed entities on a nation-wide basis.
• Advise several funds and other investors on their investments in bitcoin and other cryptocurrencies.
• Assist in the proposed organization of a publicly traded bitcoin fund.
• Represent banking entities, technology providers and corporate end-users in negotiating the entire panoply of agreements governing various types of joint ventures, strategic relationships or commercial arrangements for the establishment and/or distribution of new fintech products and services.
• Draft payment network operating rules, including for credit, debit, electronic fund transfer, prepaid, mobile and electronic benefits transfer systems and products.
• Advise on enacted and proposed payment, mobile commerce and related legislation and regulation, including in the areas of consumer protection, safety and soundness, licensing, anti-money laundering, banking, cybersecurity, online gambling, e-money, money transmission, e-commerce, mobile payments and virtual currency.

Representative banking matters include:

• Provide day-to-day compliance advice to banks, thrifts and their holding companies regarding a wide range of issues, from affiliate transactions to investment authorities to anti-money laundering to consumer compliance, and almost everything in-between.
• Advise banks, thrifts and their holding companies in preparing for, managing and responding to regulatory examinations and associated supervisory actions, including the industry-wide horizontal review of sales practices and supervisory activities associated with “Operating Chokepoint.”
• Assist a financial holding company with respect to the negotiation of, and compliance with, limitations on its activities under Section 4(m) of the Bank Holding Company Act.
• Advise the U.S. banking subsidiary of a global financial holding company regarding a major reorganization and consolidation of support services in a bankruptcy-remote affiliate as part of global resolution planning.
• Assist a financial holding company in the divestiture of a national trust company subsidiary.
• Assist retail and affinity brands in the negotiation of private label and co-branded credit card program agreements governing billions of dollars of credit card receivables.
• Advise on all aspects of deposit sweep programs, including compliance matters, client agreements and intercompany agreements in support of the sweep arrangement.

• Fellow, American Bar Foundation