Anita L. Boomstein

Profile

Representing issuers, processors, gateways, platforms, merchants, technology companies, e-commerce marketplaces, banks and financial institutions, Anita Boomstein counsels companies in the payments and fintech industries. Her merchant clients, which range from startup businesses to Fortune 100 companies, span industries such as retail, media, publishing, hospitality, entertainment and technology. She also assists private equity firms to conduct due diligence on transactions involving payment and fintech companies.

Anita guides companies through the creation of strategic partnerships to form diverse payment and loyalty programs. She further advises clients on the regulations and legal issues related to credit card, debit card, prepaid card and gift card programs.

Clients developing emerging payment products—such as mobile wallets, virtual accounts and electronic money transfers for consumers and businesses—also rely on Anita to help develop innovative programs and alliances. She structures and negotiates agreements, rules and regulations for participants in these ventures, and prepares consumer disclosures and terms.

Anita’s practice also involves counseling clients on privacy and cybersecurity matters, including creating incident response plans, counseling on relevant laws and Card Network PCI requirements, and representation of merchants that have suffered data security compromises. Anita regularly advises clients on Card Network Rules and issues affecting card acceptance by merchants. That includes merchant “swipe-fee” litigation, interchange rules, credit card surcharges, recurring billing, “data pass,” registration of payment facilitators and TPAs, and cross-border card acceptance. She also assists merchants in negotiating merchant agreements with processors and ISOs, and agreements for tokenization and gateway services. Anita advises banks and nonbank providers of financial services on state and federal payment regulations, lending and consumer protection laws and related legislative and litigation developments, state money transmitter licensing requirements and Bank Secrecy Act and anti-money laundering laws and regulations.

Having previously served as in-house counsel for both a prominent financial services provider and a global commercial bank, Anita understands the workings of the card and payments businesses, including credit origination, operations, processing and servicing functions, and marketing. Anita is a frequent speaker at industry events.

Publications

Quoted, “The Case that Won’t End,” Digital Transactions, February 1, 2020.

Author, “Debit Interchange Fees May Be Dropping Even Further,” Client Advisory, August 2013.

Author, “Settlement Proposed in Merchant Interchange Litigation—Is the End in Sight?” Client Advisory, July 2012.

Author, “Debit Interchange Fee Reduction Becomes a Reality,” Client Advisory, July 2011.

Author, “The Zip Code Conundrum,” Client Advisory, March 2011.

Author, “Merchants Gain Right to Influence Choice of Cards at the Point-of-Sale,” Client Advisory, October 2010.

10.01.19

Boomstein Authors Article for PaymentsSource on SAFE Banking Act

Manatt Financial Services partner Anita Boomstein wrote an article for PaymentsSource on the importance and limitations of the SAFE Bankin...
09.25.19

Boomstein Quoted in Law360 on the House Approval of the SAFE Banking ...

Financial services partner Anita Boomstein spoke with Law360 on the U.S. House of Representatives’ recent vote to approve the SAFE Banking...
09.06.19

Boomstein Speaks With Law360 on Office of the Comptroller of the ...

Manatt financial services partner Anita Boomstein spoke with Law360 on the Office of the Comptroller of the Currency’s win in a laws...
06.13.19

Cincinnati Court Rules Against Merchant Services Company Over Data ...

Manatt’s Anita Boomstein, a partner in the global payments group, spoke to Digital Transactions about liability for network fines after a mer...

06.28.19

PayThink: Pennsylvania's Easing of Rules for Donation Apps Should ...

“Can software and a business model be deemed the business of transmitting money under state law when the business does not receive any funds? ...

04.13.17

Supreme Court Refuses to Hear Interchange Settlement Appeal

The U.S. Supreme Court denied a request to review the U.S. Court of Appeals for the Second Circuit's ruling overturning a $7.25 billion ...

08.27.20

CFPB Issues RFI on CARD Act Rules

In carrying out its statutory mandate, the CFPB has released a Request for Information (RFI) relating to the CARD Act, seeking information on two ...
07.29.20

New York Legislature Passes Bill Requiring Commercial Finance ...

New York may soon be joining California in requiring consumer-like disclosures on commercial financing transactions.
03.11.20

FDIC Offers De Novo Guidance for Nontraditional Applicants

In an attempt to help non-banks and fintechs understand the de novo application process, the Federal Deposit Insurance Corporation (FDIC) released ...
02.13.20

Foreign Payment Processor, CEO Settles With FTC

The Federal Trade Commission (FTC) has reached a deal with a Latvian payment processor and its CEO, settling charges that the defendants facilitated ...

07.18.19

Smoking-Hot Topics in Cannabis Banking

Cannabis—in all its forms—is one of the hottest topics in the business and legal worlds. As the number of states legalizing cannabis ...

03.15.18

Emerging Compliance Risks and Enforcement Trends in Fintech

In a new webinar, Manatt lawyers will discuss the top emerging compliance risks and enforcement trends and their implications on the fintech and ...

Anita L. Boomstein

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