PRACTICE AREA

A Proactive Compliance Law Firm in San Francisco

Providentia’s compliance lawyers focus on regulatory compliance for banking, fintechs, or any consumer or lending-related activity or payment. Our experienced team can help you understand the regulations which will apply to your existing business or new product idea, build compliance into your product or address non-compliance issues.

A Partner In Navigating Increasingly Complex Banking and Fintech Regulation 

In an area as highly regulated as financial services, the number of laws which can apply to a company or product idea can be massively complex. The costs of non-compliance in this space can also be stiff, not only in terms of penalties from regulators, but in terms of reputational risk and loss of customer trust. In an environment this complex, it pays to work with an experienced partner who closely follows legal developments in the space. Providentia’s compliance and product attorneys have decades of expertise in the compliance space to navigate the regulatory landscape your business is facing, ensuring that you understand rules and regulations so that you can avoid violations and non-compliance issues. 

Our compliance law expertise extends to mortgage companies, commercial lending, startups, technology companies, and consumer laws that apply to small businesses. Providentia can guide you on the intricacies of compliance law that will secure your business and build a trustworthy reputation so that you can foster growth as you scale.

We Build Compliance Programs that Fit Your Business

As a business, you may not be aware of sanctions and regulations required of you to operate efficiently and legally. Providentia has the experience to advise you on the multitude of compliance laws that can affect your business, products, and operation. There are requirements for data reporting to the government dependent on the type of business and size of the enterprise, and our compliance attorneys can guide how your compliance department is set up. We will show you what the applicable regulations are, the laws you need to adhere to, the business policies to implement, required licensing, and the oversight you need to have for your business structure to be successful and protected. There are requirements for data reporting to the government dependent on the type of business and size of the enterprise.

Providentia will build a compliance program that fits your business, with a CMS or CMP, compliance management systems or enforcement groups that can ensure you are compliant and following all regulations that affect your business. Businesses need a compliance lawyer that can navigate and understand what specifically applies and how to deal with regulators. At Providentia, we are adept at working with banking, fintech and any financial services, with specific aptitude for compliance law as it pertains to these industries. As you develop a financial or technological product, we will show you the regulations that will apply. If you are outsourcing management of the product or managing it internally, different regulations will have practical implications once you go-to-market.

We Take a Product-Led Approach to Compliance

Providentia specializes in working with innovative companies in the technology and banking space. As such, we understand the many ways that differing regulations can be applied to your business based on the specific product choices you make. Will you collect payment by ACH or wire? When you consider that even simple choices like that can trigger different regulations, it’s easy to see how embedded compliance needs to be in the architecture of your product. 

Our team’s thorough understanding of underlying regulations that apply differently to fintech, banks and non-banks can become an asset to your product team. Providentia can help to craft a unique approach to managing risks and for your specific product and compliance needs. We have experience with compliance law requiring an understanding of what products you are offering, what jurisdiction you are in, the required licensing, and how much activity you want to have, meaning if you will be operating on the single-state, multi-state, national, or international level.

Compliance Research & Discovery for New Products

If you’re exploring a new or novel product offering, regulation can be especially confusing. With our advisory legal services, you will receive memorandum counsel that helps you conduct business in a legal and compliant fashion from the outset.

Laws often don’t keep pace with the fast pace of innovation, and the differing regulations that exist about particular payment methods can often apply differently depending on the nuances of your product. Providentia can help you navigate existing regulations from a product-first perspective. If regulations that could apply to your business don’t exist or are ambiguous, we can file to seek opinions from regulators, whether state or federal, to see if your business would be approved or licensed. We can write supportive material to associations for proposed rules that are coming out in favor or against your operation, and help you respond appropriately. Furthermore, we take a consultative approach and will generate policies and the documented controls for how you can handle reporting to outside government agencies. From the beginning, we will help you set up your business to be compliant so that you do not have a potential civil or criminal liability. 

Effective Guidance Through Compliance Audit and Response

Providentia focuses on ensuring you are following the rules and laws that dictate how your business should function, however, sometimes businesses consult us after receiving notice that they aren’t compliant. If you receive a violation, Providentia can be trusted to handle a compliance audit and response. Since regulations are constantly changing, keeping a finger on the pulse of banking and fintech related regulation is imperative to reach your compliance goals and protect your business. Providentia can understand product considerations and help you build compliance into what you are executing, making the process more effortless.

If you receive a consent order from a regulatory body, we will guide you to satisfy the requirements and offer the legal support you need for the operational implementation of the consent order. To be proactive, Providentia can advise you to institute policies and practices that help avoid these regulatory issues before they happen.

TESTIMONIALS

ATTORNEYS IN THIS PRACTICE AREA
ABOUT PROVIDENTIA
Providentia is a tech transactions law firm that’s designed to provide counsel and services which are tailored to the needs of growing technology companies. We take an integrated approach to legal services, working directly with your team to provide comprehensive strategies that go beyond traditional legal analysis.
HOW WE WORK

Select the level of engagement that best fits your legal needs:

Outside Counsel

Work with Providentia as much or as little as you need in a traditional outside counsel engagement format to gain access to a firm with specialized experience serving the legal needs of technology businesses of all shapes and sizes.

Secondment

Gain complete access to a dedicated attorney for a defined contract term. Secondment is an excellent option when your business has legal needs of a long duration or you’d prefer to deeply integrate an attorney into your team.

HOW WE WORK

Providentia is built to help financial and technology companies address their common compliance challenges.

Providentia provides guidance on compliance to clients through structuring and adhering to compliance programs to ensure they avoid any regulatory action due to their business functions or products. Whether a growth entity, private equity, or a startup, we will provide compliance legal advice and services that address the individual stage of the business.

We provide advisory compliance services for:

  • Compliance Program Development
  • Vendor Compliance Risk Management
  • Regulatory Risk Assessments
  • Due Diligence Compliance Assessments
  • Policy and Procedure Updates
  • Implementation of Laws and Regulations
  • Litigation and Complaint Management
  • Legal Writing and Research

Our expertise includes the following compliance areas:

  • Consumer Financial Services
  • Fair and Responsible Practices 
  • Residential Mortgage Lending and Servicing
  • Payment Processing and ACH Rules
  • Federal Regulations, including: ECOA, EFTA, FDCPA, FCRA, RESPA, SCRA, TILA, Dodd-Frank Act
  • State Licensing for Financial Services Activities: Payment Processing, Lending, Servicing, Debt Collection, Money Transmittal
  • Federal Regulations and Guidance from FDIC, FRB,  OCC, CFPB and FTC
  • Unfair and Deceptive Acts and Practices

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