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[email protected]Contact number
+1.202.654.7100Share profile
Band 3
Provided by Parag Patel
Parag Patel advises financial services companies, financial institutions, and fintechs on transactional and regulatory matters.
Parag guides banks, non-bank lenders, and payments and technology companies, from startups to global market leaders, as well as their vendors on:
- Regulatory compliance
- Money transmission
- Consumer and small-business lending
- Anti-fraud and anti-money laundering compliance
- Complex arrangements and partnerships between fintechs and banks for payments and banking services
- Banking
Parag strategizes innovative and practical solutions to clients' complex regulatory and transactional issues that arise when revolutionary technologies integrate with heavily regulated financial activities. He leverages deep knowledge of the relevant regulatory regimes impacting payments, banking and consumer and small-business lending in the US, including the:
- Bank Secrecy Act
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Electronic Fund Transfer Act
- Equal Credit Opportunity Act
- Fair Debt Collection Practices Act
- Banking laws, such as Federal Deposit Insurance Act and Bank Holding Company Act
- Truth in Lending Act
- Banking privacy laws, such as Fair Credit Reporting Act and Gramm-Leach-Bliley Act
- Payment network rules, such as NACHA, Visa, and Mastercard rules
- State money transmission, broker, and lending laws, as well as federal pre-emption of state financial laws
Parag also helps clients navigate regulatory issues including acquiring transmission and lending licenses and addressing enforcement or litigation issues. He regularly advises clients on blockchain and other distributed ledger technologies, smart contracts, using " big data " in decisioning systems, as well as artificial intelligence and machine learning.
Parag leverages his multifaceted experience — first within a fintech startup, and then at a leading bank — to bridge the understanding of Wall Street and innovators and connect leaders from finance and technology.
Provided by Chambers
Parag Patel acts for payment companies on payments laws, money transmission licensing and corporate transactions. Patel is well regarded for his regulatory expertise and client service.
Provided by Chambers
He combines legal knowledge and expertise, but most importantly, he applies common sense and steps into client's shoes to deliver an exceptional service.
Parag has especial expertise. He gives very actionable, specific and practical advice. There is no ambiguity, he is clear and concise.
Parag really navigates how regulatory requirements change. He helps you figure out given risk appetites and he is very knowledgeable.
He combines legal knowledge and expertise, but most importantly, he applies common sense and steps into client's shoes to deliver an exceptional service.
Parag has especial expertise. He gives very actionable, specific and practical advice. There is no ambiguity, he is clear and concise.
Parag really navigates how regulatory requirements change. He helps you figure out given risk appetites and he is very knowledgeable.