Based in offices across the country, the attorneys and licensing professionals on our team have 30+ years of experience handling all types and sizes of licensing matters for the consumer financial services industry.
Our licensing professionals support the entire licensing process: identifying and obtaining necessary licenses and maintaining existing ones. Clients routinely engage us for licensing services related to transactional matters: IPOs, private equity investments, and officer changes. After a client is licensed, we help them understand the regulatory environment in which they operate and how to navigate state examinations or investigations.
We have experience handling licensing matters for various business models in the consumer financial services industry, including the purchase of retail installment contracts, the offering of direct loans, and the implementation of consumer leasing programs. As industry leaders, we inform the narrative on licensing implications of product-specific issues, including the offering of ancillary products of all kinds, telemarketing, and the unique licensing requirements for conducting motor vehicle repossessions and other collection activities.
Licensing and Compliance Services
Daily licensing and compliance counsel
50-state licensing audits
Licensing filings to regulators
Online loan documentation and negotiations with lending channel partners
Compliance advice with respect to website content development
Regular monitoring to ensure licenses remain in good standing and are regularly updated to reflect structural changes, new products, and financial services
Interactions with regulatory agencies to ensure familiarity with company operations in advance of changes and preclude regulatory questions on examination or investigation
Our licensing team works with clients across consumer financial services, including:
We represent numerous national mortgage lenders and servicers in nationwide licensing and compliance matters, and, in a number of cases, have done so since the inception of the company’s operations. We conduct regular monitoring to ensure licenses remain in good standing and are updated to reflect changes in the organizational structure and to facilitate the introduction of new products and services. We assist compliance counsel with legal and regulatory compliance matters and interface with regulatory agencies to ensure familiarity with company operations in advance of changes and to preclude regulatory questions during examinations or investigations.
Marketplace Lenders
Our team regularly advises on the creation and operation of numerous marketplace lenders and other startups. We assist internal resources with the submission of licensing filings to regulators, or allow companies to outsource entirely, and handle the complex licensing issues that arise from company growth and product expansion. We develop online loan documentation, negotiate with lending channel partners, and provide compliance advice on website content development to ensure compliance with applicable laws and regulations. Our team provides ongoing compliance advice on all consumer finance aspects of clients’ businesses and counsels them on various regulatory matters.
National Auto Finance Companies
Our auto finance experience includes advising clients on licenses for retail installment contracts, direct loans, and consumer leasing programs. We’re also familiar with the licensing implications of product-specific issues, such as the offering of ancillary products of all kinds, telemarketing, and the unique licensing requirements for conducting motor vehicle repossessions and other collection activities.
Payments Industry
We help clients in the payments industry understand the potential applicability of federal and state requirements to money services businesses, money transmitters, and the offering of cryptocurrency services. We provide counsel on the applicability of such state licenses and, if applicable, assist with obtaining and maintaining the licenses required for each company.
De novo License Applications
Our team analyzes applicable laws, regulations, and regulatory guidance to determine which licenses are required for a client’s specific business. We then assist clients with completing all applications and expediting response times and approvals by following up with clients and regulators.
Renewals, Maintenance, and Examinations
Our streamlined approach provides the flexibility to complete and track all necessary license renewals from start to finish. Licensing Team members also have significant experience managing examinations and working with state regulators regarding the application of state law to client operations. Additionally, we assist clients with day-to-day license maintenance issues to ensure they remain in compliance with licensing statutes and regulations.
Corporate Transactions and Transitions
We work with clients on major and minor corporate changes daily, ensuring the appropriate regulatory notices are issued and approvals obtained. Our work involves matters related to changes of control, officer and director changes, and change-of-address requirements for licensing. Clients rely on our licensing group for advice on a range of regulatory topics, including whether a transaction is an initial public offering, a simple officer change, or falls somewhere else on the corporate transaction spectrum.
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