Marc Franson is a partner in the Banking and Financial Services Department and Practice Group Leader of the Bank Corporate Group. He represents financial institutions, finance companies, retailers, other creditors and brokers on an array of financial services matters including regulatory applications, consumer credit transactions, deposit products, bank mergers and acquisitions, licensing, regulatory issues and compliance, sale of non-deposit products, technology contracting, payment processing, portfolio acquisitions/divestitures, fair lending and privacy matters, Internet banking, stored value products and marketplace (P2P) lending. He also represents clients in conjunction with legislative and trade association activities.
Marc counsels interstate and intrastate lenders on all aspects of a variety of secured and unsecured consumer lending programs including credit card, mortgage, home equity, automobile and other installment credit. He has served as counsel in several major bank acquisitions and portfolio sale transactions, assisted clients with federal and state regulatory matters, licensing applications and proceedings, in the development of compliance programs, compliance training and preparation for and assistance with regulatory compliance examinations. This includes advice on FCRA, community reinvestment, and fair lending programs.
Marc was engaged in a unique credit card transaction involving the joint venture of two major banks and a credit card industry consultant involving the establishment and chartering of a credit card bank, the sale of $2,000,000,000 of credit card receivables, along with a contemporaneous securitization and other financing transactions. He also advises clients’ participation in various roles in receivable securitization programs. His representation of clients includes the areas of cash management services, electronic funds transfers, merchant credit card and payment processing, outsourcing, data processing and servicing arrangements.
Prior to joining Chapman and Cutler LLP, Marc was Vice President and General Counsel-Credit Card Services of Household International.