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 lenders, platforms, brokers, lead generators, and SaaS companies active in consumer and commercial credit markets. He counsels on matters such as:
- State licensing requirements and exemptions for lenders, brokers, lead generators and others.
- State usury requirements for consumer and commercial credit.
- Structure, negotiation, and contract drafting for B2B products, such as virtual card (VCN), pre-paid / "good funds" models, fuel and expense cards, and revenue-based financing.
- Structure and compliance requirements for various partnerships, including bank partner / platform models, "true lender" and Madden issues, and lead generation arrangements with banks, direct lenders, and other credit providers.
- Compliance with federal financial laws, including the Consumer Financial Protection Act, Fair Debt Collection Practices Act, Equal Credit Opportunity Act, Truth in Lending Act (Regulation Z), and other laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).
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.
Evan graduated cum laude from The George Washington University Law School and received his B.A., with honors, from Haverford College.