Mr. Whalen’s regulatory product work covers all kinds of loan products, alternative financing arrangements (e.g., income share agreements, factoring, merchant cash advances), payments, deposits, insurance and digital currencies. He assists clients on product development, compliance, regulator actions and state licensing.
Mr. Whalen’s regulatory service work centers on service providers that touch these products, including servicers, debt collectors, credit reporting agencies, escrow companies, loan brokers, lead generators, information aggregators and money transmitters. He helps service providers build compliant solutions.
Mr. Whalen’s transactional practice focuses on the products and services he advises on. He negotiates bank partnership arrangements, private label origination and servicing agreements, loan and receivables sales, co-branded credit card deals and lead generation agreements. He also conducts regulatory due diligence on acquisition targets and helps companies prepare for due diligence that will be conducted on them.
Mr. Whalen is very active in digital currency + blockchain. He works with developers and sellers of tokens and coins, exchanges, wallet providers, smart contracts, node arrangements, lenders making digital currency secured loans and Bitcoin ATM operators.
Mr. Whalen is currently counseling many of his FinTech clients on the OCC FinTech national bank and industrial loan company charters as an alternative to state by state licensing and regulation.