Jacob Westlund assists banks and financial institutions with a range of matters involving consumer financial services, payments products, third-party relationships, data privacy, commercial lending, and other regulatory compliance challenges. Jacob approaches his clients’ needs with full awareness of the challenging regulatory environment in which financial institutions operate and the importance of efficient, reliable legal services. Jacob’s experience includes the Truth in Lending Act (TILA), Electronic Funds Transfer Act (EFTA), Gramm-Leach-Bliley Act (GLBA) privacy requirements, Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Telephone Consumer Protection Act (TCPA), and a wide range of other state and federal laws and regulations affecting banking and the provision of financial products and services. In particular, Jacob advises banks and program managers on new regulatory requirements applicable to prepaid cards and accounts. Jacob also has assisted banks with drafting compliant consumer-facing disclosures, notices, and other documentation; UDAP/UDAAP issues; application of state and federal money transmitter requirements to Fintech and other novel business models; BSA/AML, financial crimes, and sanctions obligations; and review of GLBA privacy materials. Jacob also has assisted with transactions among various participants in the payments ecosystem, as well as in the commercial and syndicated lending contexts. Prior to joining Ballard Spahr, Jacob served at a large national bank where he was responsible for conducting a rigorous, enterprise-wide assessment of top compliance and risk issues. The assessment evaluated the effectiveness of senior leadership – including the board of directors, senior management, and top-level committees – as well as the bank’s governance, strategy-setting, and overall risk management infrastructure. This background allows Jacob to approach his clients’ concerns from an experienced and risk-oriented perspective grounded in the real-world, business implications of legal advice.