Brenna practices at the intersection of financial services, technology and regulation, advising fintech startups, banks, and alternative payment providers on operations, transactions, and regulatory and enforcement matters.

As a former attorney for the Texas Department of Banking, Brenna is experienced in advising clients on regulatory, supervision, enforcement and public policy issues relating to money transmission, bank and trust matters. During her four years at the Department, Brenna collaborated on investigations and initiatives with state and federal regulators, including the FDIC, OCC, CFPB and SEC. She negotiated more than a dozen settlements in bank and money transmission enforcement actions, leading to the prohibition of several bankers and more than $500,000 in fines and penalties. Brenna led the development of the Texas policy prohibiting money services businesses (MSBs) from “renting” their licenses and drafted Supervisory Memorandum 1038 promulgating this policy. She has testified before the Texas Legislature on MSB matters, and drafted numerous rules. Brenna’s insider perspective on bank, trust and money transmission matters makes her exceptionally qualified to advise financial institutions on regulatory, enforcement and public policy issues.

Since moving to private practice, Brenna has leveraged her know-how to advise banks, credit unions, fintech companies, retailers and other financial services providers on a broad range of matters related to payments, technology, virtual currencies, privacy, the blockchain, smart contracts, and other innovative financial products. She frequently advises fintech companies, money transmitters and alternative payment providers on regulatory and compliance matters, with particular focus on product design, the permissibility and structure of new activities, and the applicability of federal MSB registration and state money transmission licensing requirements. She assists banks and other financial institution clients with a variety of regulatory and corporate matters, including the preparation of regulatory applications and notices; implementing digital strategies, mobile banking and other innovative financial products; and drafting and negotiating technology, outsourcing and vendor contracts. Brenna also advises retailers regarding mobile payments, digital commerce, mobile wallets, prepaid card programs, stored value products, and privacy and data security matters.

Relevant Experience

• Advised fintech startups regarding federal money services business registration and state money transmission licensing, as well as potential exemptions to licensing, including agent of the payee, bank agent and payment processor.
• Acted as regulatory and due diligence counsel for a money transmitter in an acquisition, including preparing multi-state regulatory applications and notices related to the change of control.
• Drafted comment letters on regulatory rulemakings by the CFPB, FDIC, OCC and Federal Reserve.

• Represented a bank regarding an application to acquire a subsidiary and increase its capital and surplus.
• Represented money transmitters and fintech companies in investigations and enforcement actions before state bank regulatory agencies.
• Represented a bank in a Part 362 application with the FDIC regarding a real estate investment activity.
• Drafted and negotiated treasury management agreements, payment processing arrangements, and agreements for commercial and consumer deposit products for banks and credit unions.
• Advised financial institutions and cannabis-related entities on marijuana banking and payments matters, including Bank Secrecy Act and anti-money-laundering compliance.
• Advised fintech companies and retailers on US privacy laws and the European Union’s General Data Protection Regulation, including drafting privacy policies.
• Conducted trainings for examiners from numerous state financial services regulatory agencies.

Bar Admissions

Education
JD, The University of Texas School of Law, 2012BA, Georgetown University, cum laude, 2007