Evan R. Minsberg is a member of Venable’s Regulatory Group. He counsels lenders, lead generators, payments companies, fintech platforms, and other financial services providers on product development, regulatory, and transactional issues.
Evan routinely assists companies in understanding and obtaining necessary licenses and approvals to conduct mortgage, personal and commercial lending, lead generation and brokering, collections, credit sale, and money transmitter activities at both the state and federal levels.
Evan advises payment processors, payment facilitators, digital wallet operators, marketplaces, and other companies involved in the movement of money on regulatory and transactional issues. He counsels on matters such as :
- Federal and state money transmission issues, including licensing requirements and exemptions, bank partner and authorized delegate arrangements, funds flow and account structures, and permissible investments.
- Compliance with payment network rules, including those applicable to aggregator models (e.g., payfac), data use, surcharges and convenience fees, ACH and third-party sender requirements, and the interaction of network rules with federal and state laws.
- Structure, negotiation, and contract drafting for sponsorship, acquiring, issuing, sub-merchant, referral and other relationships between banks and non-bank payments companies.
- Bank Secrecy Act and anti-money laundering laws, including FinCEN MSB registration and compliance with Know Your Customer and Beneficial Ownership requirements.
Evan advises data analytics companies, consumer reporting agencies, financial services companies, and insurance companies on their obligations under the federal Fair Credit Reporting Act (FCRA) and Title V of the Gramm-Leach-Bliley Act (GLBA) and their state equivalents. He counsels on matters such as:
- Determining whether a particular collection, distribution, and use of personal data would constitute a “consumer report” triggering FCRA compliance obligations.
- Database structure, information flow, data sharing between affiliates and non-affiliates, and re-seller requirements under FCRA and GLBA.
- Legal and contractual requirements for use of FCRA and non-FCRA regulated data products.
As an offshoot of his compliance and transactional advisory work, Evan is also active in performing due diligence on target companies in the industries above on behalf of behalf of private equity, venture capital, and commercial credit companies.
Education :
- J.D. cum laude George Washington University Law School 2012
- B.A. East Asian Studies with honors Haverford College 2006
Bar Admissions : District of Columbia, New York
