{"id":1821,"date":"2024-02-03T16:51:44","date_gmt":"2024-02-04T00:51:44","guid":{"rendered":"https:\/\/achuweb.com\/Gemini\/?p=1821"},"modified":"2024-02-03T16:51:44","modified_gmt":"2024-02-04T00:51:44","slug":"playing-the-what-if-game-when-reviewing-fintech-bank-partnership-agreements","status":"publish","type":"post","link":"https:\/\/achuweb.com\/Gemini\/2024\/02\/03\/playing-the-what-if-game-when-reviewing-fintech-bank-partnership-agreements\/","title":{"rendered":"Playing the \u2018What If\u2019 Game When Reviewing Fintech\u2013Bank Partnership Agreements"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>You have to play the \u201cWhat If\u201d game when reviewing bank partnership agreements for fintech companies. This game is a pressure-testing exercise, asking yourself as you read through program and platform agreements whether there is adequate contractual coverage if something big happens. Of course, you have to be judicious in doing so, recognizing you may not have leverage on certain points and understanding each party\u2019s desire to negotiate the agreements full speed ahead.\u00a0<\/p>\n<p>Here are some questions that you should consider as you go through the agreements:\u00a0<\/p>\n<ul>\n<li><em>What if the fintech wants to see a change made to the program after launch?<\/em><\/li>\n<li><em>What if the bank plans to make a material change to the program when everything is going well?<\/em><\/li>\n<li><em>What if a lending fintech\u2013bank partnership arrangement gets challenged in a lawsuit or regulator action on \u201ctrue lender\u201d grounds?<\/em><\/li>\n<li><em>What if there is a regulator inquiry? Is the fintech\u2019s perspective and input considered and worked into the response?<\/em><\/li>\n<li><em>What if the fintech wants some rights to customer data?<\/em><\/li>\n<li><em>What if the fintech wants to solicit customers for other products and services?<\/em><\/li>\n<li><em>What if the bank wants to significantly increase the required balance of the reserve or collateral account?<\/em><\/li>\n<li><em>What if there is an exclusivity provision that does not permit a second or backup bank?<\/em><\/li>\n<\/ul>\n<p>These are all good ones, but perhaps the most important question is:<span>\u00a0<\/span><em>What if the agreement is terminated or not renewed and the program ends?<\/em><span>\u00a0<\/span>As the saying goes, \u201call good things must come to an end,\u201d and the parties have to be prepared for this possibility.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this edition of Fintech Flash, we discuss important things to consider when reviewing fintech-bank partnership agreements with a particular focus on their transition sections implicated when agreements are terminated or not renewed and the program ends. Program and platform agreements should comprehensively cover transferring users to a successor bank or platform. This Flash provides practice tips on what to include in a robust transition section.<\/p>\n","protected":false},"author":1,"featured_media":1810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-1821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Playing the \u2018What If\u2019 Game When Reviewing Fintech\u2013Bank Partnership Agreements - Gemini Law<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Playing the \u2018What If\u2019 Game When Reviewing Fintech\u2013Bank Partnership Agreements - Gemini Law\" \/>\n<meta property=\"og:description\" content=\"In this edition of Fintech Flash, we discuss important things to consider when reviewing fintech-bank partnership agreements with a particular focus on their transition sections implicated when agreements are terminated or not renewed and the program ends. 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