Global investment bank successfully launches online lending portal, relying on the deep knowledge of technology and consumer financial services regulatory compliance provided by our FinTech team

Where we started: Recognizing McGlinchey’s extensive knowledge and experience advising on FinTech issues, a major depository institution approached us for help in creating and launching its direct to consumer loan initiative, administered through an online lending platform. The client needed, and received, holistic financial services regulatory compliance advice regarding the creation and operation of such a platform.

Our strategy – plus more: The bank sought our help regarding how to create and structure new consumer lending products across the country while meeting the full range of federal and state regulatory obligations.

Upshot: We provided comprehensive advice on regulatory compliance, including detailed guidance on product development, consumer lending, and the operation of servicing and collection mechanisms for the various consumer financial services products. We also counsel on managing vendors in order to meet regulatory obligations, and we provide strategic legal and business advice regarding potential partnerships with high-profile third parties, including direct integration of third parties with the bank’s financial products.