Parag Patel

Senior Associate

Washington, D.C.

Parag Patel’s practice, as a financial advisor, focuses on payments, financial technology and banking issues.

He assists banks, non-bank lenders, payments and technology companies, and their vendors with regulatory, compliance, supervision, enforcement, anti-fraud and anti-money laundering, and transactional matters. Parag has significant experience advising clients on compliance with the banking and financial services regulations, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Equal Credit Opportunity Act (ECOA), the Electronic Fund Transfer Act (EFTA), the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), the Gramm-Leach-Bliley Act (GLBA), and the Truth in Lending Act (TILA).

Prior to joining Orrick, Parag was senior counsel at Capital One, where he served as the company-wide legal subject matter lead for payments. He also was associate counsel at Funding Circle, where he focused on legal issues related to peer-to-peer lending and financial technology.

  • A representative selection of Parag’s experience includes the following.

    • Payments. Parag counsels his clients on payments regulations and rules, including Durbin Amendment, Regulations CC, E and J, UCC Articles 3, 4 and 4A, and NACHA and Visa/Mastercard rules. Parag also counsels clients on state money transmitter rules and regulations.
    • Banking regulations. Parag has extensive experience working on bank regulatory matters, including advising clients on strategic and innovative banking and financial services products. Parag has advised clients on the Dodd-Frank Act and various OCC, FDIC and Federal Reserve banking regulations. Parag has also assisted national banks in preparing for audits of payments systems and reviews of permissible commodities and derivative activities, and has assisted bank trade associations on drafting comment letters for proposed regulations, including CFPB’s small-dollar lending rule, Federal Reserve’s amendments to Regulation CC, CFPB’s amendments to Regulation E, and interagency amendments to the Volcker Rule.
    • Consumer Lending. Parag advises clients on federal and state laws governing consumer credit, including the Truth in Lending Act and Regulation Z, Gramm-Leach-Bliley and Regulation P, the Fair Credit Reporting Act, Electronic Signatures in Global and National Commerce Act, Fair Debt Collection Practices Act and Equal Credit Opportunity Act and Regulation B, and other fair lending rules. He advises clients with regional and nationwide businesses on applicable state laws, including state lender licensing, usury and disclosure laws.