Kelly F. Truesdale

Kelly’s regulatory practice spans the life of a financial product, from licensing and structuring through ongoing compliance. He counsels clients on state laws governing the licensing and operation of money services businesses, the Electronic Fund Transfer Act and Regulation E, the Durbin Amendment and Regulation II, and anti-money laundering requirements under the Bank Secrecy Act and FinCEN regulations. As the regulatory perimeter for digital assets takes shape, Kelly counsels prospective stablecoin issuers on the GENIUS Act and advises companies weighing whether a bank charter, trust company charter or another licensing structure best fits their business. He also advises on the rules of the major card, ACH and real-time payment networks.

On the transactional side, Kelly concentrates on the mortgage market, advising buyers and sellers on transfers of mortgage servicing rights and mortgage loan portfolios and negotiating servicing and subservicing agreements. He also negotiates bank-fintech partnership agreements, program management arrangements and other commercial contracts in the financial services arena. Kelly assists deal teams with the regulatory questions that surface in transactions, from payments licensing issues in an acquisition to anti-money laundering diligence across a variety of financing transactions.

Before law school, Kelly worked as a software engineer and as an adviser to several early-stage technology companies. He is a Chartered Financial Analyst (CFA) charterholder.