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Dowse Bradwell "Brad" Rustin, IV

Partner

Poinsett Plaza
104 South Main Street
Suite 900
Greenville, SC 29601
101 Constitution Avenue, NW
Suite 900
Washington, D.C., 20001
brad.rustin@nelsonmullins.com
+ Other Locations

Brad Rustin is a partner of Nelson Mullins Riley & Scarborough LLP who practices in Greenville, South Carolina. His career began as a litigator focusing on consumer financial services litigation and defense of regulatory claims against chartered and non-chartered financial institutions, finance entities, and money services business. Following in the wake of the fiscal crisis,...

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Brad Rustin is a partner of Nelson Mullins Riley & Scarborough LLP who practices in Greenville, South Carolina. His career began as a litigator focusing on consumer financial services litigation and defense of regulatory claims against chartered and non-chartered financial institutions, finance entities, and money services business. Following in the wake of the fiscal crisis, he began working with financial institutions, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance. As the regulatory environment facing financial institutions has changed and increased, he now spends most of his time counseling financial institutions in regulatory matters, including strategic agreements, product development, and operational compliance. Mr. Rustin regularly works with clients on issues relating to: state and federal consumer protection laws, fraud monitoring, anti-money laundering and Bank Secrecy Act compliance, state and federal regulation of money transmission, stored value strategies, ACH compliance and traditional and non-traditional lending. Along with the firm's technology group, Mr. Rustin regularly works with FinTech companies on state and federal regulatory compliance as well as issues relating to data integrity and E-Sign Act compliance.

Mr. Rustin works with a number of industry organizations focusing on financial institutions and regularly speaks on topics involving regulatory compliance for chartered and non-chartered financial institutions. His speaking engagements have, in particular, focused on changing federal regulation of the money transmission and lending space in the post-Dodd Frank environment.

he began working with financial institutions, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance. As the regulatory environment facing financial institutions has changed and increased, he now spends most of his time counseling financial institutions in regulatory matters, including strategic agreements, product development, and operational compliance. Mr. Rustin regularly works with clients on issues relating to: state and federal consumer protection laws, fraud monitoring, anti-money laundering and Bank Secrecy Act compliance, state and federal regulation of money transmission, stored value strategies, ACH compliance and traditional and non-traditional lending. Along with the firm's technology group, Mr. Rustin regularly works with FinTech companies on state and federal regulatory compliance as well as issues relating to data integrity and E-Sign Act compliance.

Mr. Rustin works with a number of industry organizations focusing on financial institutions and regularly speaks on topics involving regulatory compliance for chartered and non-chartered financial institutions. His speaking engagements have, in particular, focused on changing federal regulation of the money transmission and lending space in the post-Dodd Frank environment.

Brad Rustin is a partner of Nelson Mullins Riley & Scarborough LLP who practices in Greenville, South Carolina. His career began as a litigator focusing on consumer financial services litigation and defense of regulatory claims against chartered and non-chartered financial institutions, finance entities, and money services business. Following in the wake of the fiscal crisis,... he began working with financial institutions, money transmitters, non-traditional lenders, check cashers, and mortgage brokers on issues of regulatory compliance. As the regulatory environment facing financial institutions has changed and increased, he now spends most of his time counseling financial institutions in regulatory matters, including strategic agreements, product development, and operational compliance. Mr. Rustin regularly works with clients on issues relating to: state and federal consumer protection laws, fraud monitoring, anti-money laundering and Bank Secrecy Act compliance, state and federal regulation of money transmission, stored value strategies, ACH compliance and traditional and non-traditional lending. Along with the firm's technology group, Mr. Rustin regularly works with FinTech companies on state and federal regulatory compliance as well as issues relating to data integrity and E-Sign Act compliance.

Mr. Rustin works with a number of industry organizations focusing on financial institutions and regularly speaks on topics involving regulatory compliance for chartered and non-chartered financial institutions. His speaking engagements have, in particular, focused on changing federal regulation of the money transmission and lending space in the post-Dodd Frank environment.

Experience

Following is a selected sampling of matters and is provided for informational purposes only. Past success does not indicate the likelihood of success in any future matter.

Prudentially Regulated Financial Institutions

  • BSA/AML/OFAC compliance obligations
  • SAR filing obligations
  • Section 314(b) communications and exchange of data
  • Third-party vendor due diligence programs
  • Online and mobile banking agreements, including Regulation E obligations
  • E-Sign Act and UETA compliance, including authentication obligations and defensible data retention
  • Indirect lending programs including table-funding and floor planning
  • ECOA external audits, reviews of results, and development of corrective actions plans
  • White-labeling of banking services for use with technology driven payment providers
  • Customer-facing agreements including depository and credit products
  • Development of commercial treasury management programs and associated product offerings
  • Core processing agreement negotiation and regulatory compliance
  • Development of ACH originator and third-party sender due diligence programs
  • Regulation E dispute procedures, investigations, and responses
  • Federal and state pre-exam regulatory audits
  • Direct work with regulators to respond to exam concerns, customer complaints, or potential regulatory violations

Prepaid Card Products

  • Negotiating third-party program manager and processor agreements
  • Structuring of non-card stored value products
  • Structuring of telecom card programs
  • Design and structure of prepaid card distribution relationships and developing non-traditional delivery methods for card-products (i.e., instant-card for loan proceeds, virtual cards on mobile devices, virtual cards for mid-level payment transmission, and unique use cases involving interim loads mechanisms
  • Customer loyalty program development
  • Customer Identification Program compliance challenges with mobile enrollment
  • Regulation E compliance programs and refund policies
  • Customer enrollment and account monitoring programs

Payment Processing/Money Transmission

  • Consultation with companies seeking licenses as money transmitters at the state and federal level
  • Regulatory obligations audits and program structures for payment processors
  • Program structuring to avoid state or federal MSB obligations
  • “White label” payment processing using regulated MSBs or partner financial institutions
  • Customer Identification Program compliance for payment processors
  • FinTech-driven point-of-sale use cases including QR codes and NFC authorizations
  • Federal and state pre-examination audit of money transmitters
  • Alternative payment mechanisms including single-use card transactions, financial institution partnerships, and real time settlement using new ACH technology
  • Interactions with regulators for preclearance of new products and responses to regulatory criticism, including corrective action plans/consent resolutions
  • Transmitter/lender regulatory interactions
  • Person-to-person real-time payment network developments
  • E-Sign Act and UETA compliance, including authentication obligations and defensible data retention
  • NACHA Operating Rules compliance

Non-Traditional Lending

  • Online, interstate, and state lending-law compliance
  • Underwriting of non-traditional borrowers including un-banked and under-banked borrowers
  • Underwriting and FCRA issues when developing new credit “scoring” models
  • Human equity investment / Income Share Agreement regulations
  • ECOA compliance and fair credit issues
  • Product structuring under small-dollar, consumer-secured, and credit services organization models
  • Due diligence on behalf of private equity, venture capital, and financial institution clients seeking to invest in non-bank lenders
  • TCPA and FDCPA compliance
  • Indirect lending models, table-funding, and credit facility contracts and legal compliance, including creation of special purpose entities for non-banking lending investments

Financial Institutions Litigation

  • Special asset collections and complex receiverships
  • Lender liability claims defense including special circumstances under FIRREA
  • Litigation involving loss-share assets
  • Claims against failed or de-chartered financial institutions
  • Disputes with regulated third-party service providers including core providers
  • Disputes with participants in indirect lending programs and lending joint ventures
  • Disputes over loan participation agreements

Exemplar Cases

  • LNV Corp. v. Affordable Hospitality Group—Anderson, LLC, No. 2013-002341 (S.C. Ct. App. Feb. 11, 2015)
  • Mitchum v. USAA Federal Savings Bank, No. 0:13-cv-01601 (D.S.C. Sept. 11, 2013)
  • Anderson v. USAA Federal Savings Bank, No. 8:13-1316 (D.S.C. Sept. 4, 2013)
  • Hughes v. Bank of America, No. 2011-191468 (S.C. Ct. App. June 20, 2012)
  • Albemarle Corp. v. AstraZeneca UK, Ltd., No. 5:09-2750 (D.S.C. Sept. 30, 2010)
  • Hitt v. Enbe, No. 07-6662 (4th Cir. Jan. 17, 2008)
  • Hunt v. Mortgage Electronic Registrations Systems, No. 6:07-1259 (D.S.C. Nov. 20, 2007)

Education

  • University of South Carolina School of Law, JD, magna cum laude (2006)
    • Associate Student Works Editor, South Carolina Law Review
    • Order of the Coif
    • Order of the Wig and Robe
    • Order of the Barristers
    • Chief Judge, Mock Trial Bar
    • Associate Justice, Moot Court Bar
    • Captain, Moot Court Team
    • Captain, Mock Trial Team
    • Recipient, CALI Award for Contracts I, Contracts II, Civil Procedure, and Bioethics
    • Recipient, 2005 Coleman Karesh Award for highest grade point average in class
  • Furman University, BA, Political Science and History, cum laude (2003)

Admissions

  • South Carolina
  • District of Columbia

Practice Areas

Industries

The bar rules of some states require that the standards for an attorney's inclusion in certain public accolades or recognitions be provided. When such accolades or recognitions are listed, a hyperlink is provided that leads to a description of the respective selection methodology.

  • Adjunct Professor, Trial Advocacy, Furman University
  • Chairman, Trial and Appellate Advocacy Section of the South Carolina Bar
  • Former Fourth Circuit Notes Editor, American Bankruptcy Institute Journal
  • Head Coach, Assistant Coach and Judge, Furman University Mock Trial Programs
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