A creative and innovative thinker, Tom understands the unique needs and motivations of his banking and financial clients, and works hard to reach their end goals.

Overview

Tom's practice focuses on FinTech, payment systems, credit and other banking financial products. He advises on payment platforms and processing, point-of-sale financing, subscription payment plans, retail installment sales (credit sales), credit cards, installment loans and lines of credit, deposit accounts, debit and prepaid cards, open banking, payment authentication products and surcharge and convenience fee structures. He assists clients with negotiating merchant processing and payment facilitator (PayFac) agreements, automated clearing house (ACH) origination agreements, third-party vendor agreements, and bank-FinTech partnerships, complying with federal and state regulations regarding payments, data privacy and credit, and drafting customer-facing terms and conditions and disclosures.

Experience

Advised a global technology company on structuring installment payment plans and other payment products for consumer services in compliance with U.S. consumer credit laws, payment laws and payment network rules related to licensing, disclosures, fees and discounts. Drafted customer-facing terms and conditions as well as change-in-terms notices.

Negotiated a technology agreement for top-40 U.S. bank (by asset size) to support a key customer service offering. Also drafted customer-facing terms and conditions for the bank's digital deposit, payment and treasury products, including those for cards, ACH, FedNow and real-time payments.

Drafted customer-facing terms and conditions for a leading provider of “fringe” consumer financial services in the U.S. regarding old products and new. Advised the client on compliance with federal and state payments and credit laws applicable to bank accounts, credit accounts and prepaid cards.

Guided a leading payment facilitator in niche U.S. market through complex federal and state laws and payment rules applicable to surcharges and convenience fees. Negotiated merchant processing, payment facilitator and open banking deals.

Analyzed the applicability and impact of consumer lending, retail installment sales (credit sales), consumer leasing, rent-to-own, credit services, and debt collections laws on the service offerings of a large service provider in a key U.S. consumer retail industry.

Revised treasury management agreements for the U.S. operations of a global bank and another large national bank, covering the gamut of treasury services, including ACH, wire transfers, positive pay, bill pay, online banking, mobile deposit, fraud control, sweep services, cash services, data transmission, lockbox services, and other related services.

Served as subject matter expert on a wide range of consumer financial services laws and payment regulations, including the Equal Credit Opportunity Act, Electronic Fund Transfer Act, Fair Debt Collection Practices Act, Gramm-Leach-Bliley Act, Fair Credit Reporting Act, Truth in Lending Act, Truth in Savings Act, Expedited Funds Availability Act, Electronic Signatures in Global and National Commerce Act; Article 4A of the Uniform Commercial Code; Nacha rules, and card network rules; Federal Deposit Insurance Corporation regulations, Office of the Comptroller of the Currency regulations, Federal Reserve regulations, and Consumer Financial Protection Bureau (CFPB) regulations; and various non-uniform state credit and payment laws.

Worked as member of internal and external teams, advising on product structure, drafting terms and conditions, negotiating vendor agreements, researching and drafting substantive arguments for litigation, drafting opinion letters and memos, and researching and drafting regulatory applications for a variety of bank and other financial clients.

Advised on CFPB enforcement and supervisory jurisdiction and compliance with CFPB rules, including rules related to open banking, larger participants, non-bank registration, personal financial data rights, credit reporting, debt collection, small-dollar (payday) lending and international remittances.

News & Insights

Speaking Engagements

“Managing Emerging Regulatory and Business Risk Through Innovative Insurance Products,” InFin Money Trends, October 2024

“Fintech and Vendor Management,” Bank Legal Risk Management Conference, Missouri Bankers Association, October 2024

“Banking Litigation,” Bank Legal Risk Management Conference, Missouri Bankers Association, October 2024

"Bank Litigation," Annual Convention, Missouri Independent Bankers Association, September 2024

“Bank-FinTech Programs,” Lending, Credit & Finance Conference, Missouri Bankers Association, May 2024

"Check, Wire and ACH Payment Fraud," Directors and Officers Seminar, Missouri Independent Bankers Association, April 2024

“Legal Framework for Credit Builder Products,” InFin Money Trends, November 2023

“Faster Payments – FedNow – Preparing Your Bank” Bank Legal Risk Management Conference, Missouri Bankers Association, October 2023

"Bank-Fintech Partnerships," Annual Convention, Missouri Independent Bankers Association, September 2023 

"Buy Now Pay Later," Compliance Boot Camp, Innovative Payments Association, September 2023 

"Regulatory Update: Abusiveness, 'Junk Fees,' and Other Issues," Missouri Creditors Bar, Inc., June 2023

"Recent Developments in Electronic Payments Law," 2023 Faster Payments Seminar, May 2023

"Key Terms of Bank Third-Party Agreements," Kansas Bankers Association Bank Technology and Operations Conference, February 2023

"Overdraft and NSF Fees (and Other Fees); Reducing Litigation and Compliance UDAP/UDAAP Exposures," Missouri Bankers Association 2022 Bank Legal Issues Conference, November 2022

"Bank Partner Loan Programs and State Licensing," INFiN MoneyTrends, October 2022

"Regulatory and Payments Update," Missouri Independent Bankers Association, September 2022

"ACH Issues," NEACH, April 2022

"UCC Series – Checks," NEACH, April 2022

"UCC Series – Wire Transfers," NEACH, March 2022

"Role of the Board," Missouri Independent Bankers Association, September 2021

"Legal and Regulatory Update," Heartland Credit Union Association, August 2021

"Compliance Day Workshop," NEACH, August 2021

"Payments Legal Update," NEACH, February 2021

"CFPB Update," Missouri Consumer Finance Association, May 2019

"CFPB Update," Kansas Creditors Attorney Association, February 2019

"CFPB Update," Missouri Creditors Bar, Inc., October 2018

"CFPB Update," Missouri Consumer Finance Association, February 2018

"CFPB Update," Kansas Creditors Attorney Association, February 2018

"Recent CFPB Action," Wichita Bar Association, December 2017

"New CFPB Rules," Missouri Consumer Finance Association, February 2017

"CFPB Debt Collection Action," Kansas Creditors Attorney Association, February 2017

"New Products," Short-Term Loan Bar Association, November 2016

Professional & Civic Activities

Professional & Civic Activities

University of Kansas School of Law, Adjunct Professor

Admissions

  • Kansas, 2014
  • Missouri, 2015

Education

University of Kansas School of Law, J.D., 2014

  • Moot Court Council

University of Notre Dame, B.A., 2006

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