USA TRENDS AND DEVELOPMENTS
Trends and Developments Contributed by: Donald J. Mosher, Melissa G. R. Goldstein, Adam J. Barazani and Leel Sinai McDermott Will & Schulte LLP
McDermott Will & Schulte LLP has more than 20 of- fices globally and 1,750+ lawyers. The NYC-based payments team advises top fintech companies and start-ups, making it the go-to firm for financial and strategic buyers in the payments sector. The team has extensive experience in licensing, compliance, and regulatory enforcement. The team works with the breadth of providers in the payments space, in - cluding cryptocurrency, merchant payment process -
ing, digital wallets, and payroll processors on state money transmitter and federal money services busi - ness licensing and compliance matters. McDermott is a trusted adviser to start-up unicorns, guiding them through setting up payment operations and secur - ing necessary licences/charters. With deep history in the industry, the firm provides strategic counsel that helps clients innovate, expand, and comply with evolving regulatory frameworks.
Authors
Donald J. Mosher is the head of McDermott’s Bank Regulatory Group. Don’s practice focuses on the regulation, acquisition and sale of payments companies and money transmitters, licensing and registration
Adam J. Barazani is a partner at McDermott, advising fintech companies and private equity firms in complex transactions, regulatory compliance, and enforcement matters across the payments industry. He has
of traditional and nontraditional money services businesses (including online transmitters, global B2B providers and cryptocurrency exchanges) and the laws and practices applicable to mobile, digital, virtual, electronic, paper- and card-based payment products and systems. He is widely recognised as one of the leading money transmitter regulatory lawyers in the nation. He is ranked Band 1 by Chambers in Fintech: Payments & Lending.
advised on matters involving e-commerce platforms, cross-border and domestic money transmitters, B2B and commercial payments providers, rewards and prepaid card programmes, payroll solutions, digital wallets, cryptocurrency exchanges, lending products, merchant cash advance, and emerging payments. Adam guides clients on state licensing frameworks, product development, and ongoing compliance. He has significant experience with acquisitions, investments, and internal restructurings, including matters requiring creative structuring to address state change-in-control filing requirements and investor ownership thresholds.
Melissa G. R. Goldstein is a partner at McDermott, advises on anti-money laundering and sanctions regulatory compliance matters. Melissa represents banks, broker-dealers, investment advisers, funds, insurance
Leel Sinai is a partner at McDermott, focusing on banking and financial services regulation as well as fintech, with a particular emphasis on emerging areas such as cryptocurrency and payment system
companies and money services businesses, including those involved in global e-commerce and virtual currency, on the AML and sanctions regulations, rules, and related issues governing their investment and business activities. Melissa has particular experience with issues arising out of the Bank Secrecy Act, as amended by the USA PATRIOT Act, the AML Act of 2020, and the Corporate Transparency Act. Before joining McDermott, Melissa was an attorney-advisor with FinCEN.
innovations. Leel has experience in in-house legal roles and regulatory consulting. He advises on federal and state banking, trust company oversight, money transmission, lending compliance, and anti-money laundering protocols. Leel provides strategic guidance on licensing processes, product development, partnership strategies, and
980 CHAMBERS.COM
Powered by FlippingBook