While we cannot slow the pace of technological change, we can surely stay abreast of the regulatory reactions to those changes. Venable's mission is to help clients understand the risks and seize the opportunities arising from these developments.
We have advised one of the nation’s largest and most successful Internet banks, and other leading financial services providers that rely principally on the Internet or other nontraditional delivery channels. We regularly counsel clients on the laws and regulations governing electronic payments. Our clients also come to us for advice on mobile payment methods, use, and security.
We work with a number of financial institutions with regard to the migration of business-to-business and business-to-consumer payment methods. Our attorneys provide counsel and insight regarding the Consumer Financial Protection Bureau’s growing interest in these payment methods, which include electronically created checks, remote purchase orders, and electronically created payment orders. We also consult on virtual currencies, their use in the payment system, and their status under the tax code.