Loeb & Loeb LLP announced today that veteran payments technology attorney Stephen A. Aschettino has joined the law firm’s New York office as a partner in the Advanced Media and Technology Department. Aschettino will serve as chair of Loeb’s Payments Technology Practice, providing complex business and regulatory counsel to financial institutions, payment processors, FinTech companies, emerging tech startups and other disruptors to the payments space.
“In today’s hyper-connected world, technology is fundamentally altering the way people live, interact and conduct business, and a thorough understanding of the changing payments landscape in this environment is essential,” said Loeb & Loeb Deputy Chairman Kenneth R. Florin, co-chair of the firm’s Advanced Media and Technology Department. “Stephen brings a very unique skillset that will be invaluable to our clients navigating the legal and regulatory challenges of the rapidly evolving payments technology industry.”
Aschettino is uniquely equipped to assist clients with electronic payments, mobile payments, prepaid card, money transmitter, digital currency and licensing issues. His broad capabilities include: new product development, negotiating and drafting key sponsorship and processing agreements, structuring inter-company transactions and portfolio acquisitions and resolving contractual disputes. He regularly counsels on federal and state consumer and financial regulatory issues, data privacy and security, and compliance with Payment Card Industry (PCI) Data Security Standards, NACHA and card-association rules. Aschettino frequently serves as outside general counsel to PayTech companies.
“Stephen is an exceptional addition to our firm,” commented Loeb & Loeb Chairman Michael D. Beck. “His specialized payments background rounds out our already robust media and technology capabilities and further enhances our comprehensive offering for the financial services sector.”
In addition to his payments focus, Aschettino maintains a diverse business litigation practice. He has served as lead trial and appellate counsel in commercial, insurance, bankruptcy and products liability cases, and has been responsible for national and regional litigation portfolios for companies in a variety of industries, including financial services, e-commerce, insurance and manufacturing.
Aschettino commented, “Loeb is a leader in helping companies from all sectors employ and adapt technology to enhance their business objectives. The firm is a terrific fit for my practice and offers a deep platform of complementary services that will be of great value to my clients.”
Prior to joining Loeb & Loeb LLP, Aschettino was a partner at Foley & Lardner LLP, where he chaired the firm’s Payments Technology Team. He was the co-founder of AschettinoStruhs LLP, where he served as the firm’s managing partner and leader of the electronic payments, litigation and insurance practices. Earlier in his career, Aschettino served as general counsel to Cynergy Data, LLC, a leading provider of electronic payment processing solutions.
Aschettino earned his J.D. from American University, Washington College of Law and a Bachelor of Science degree from Cornell University.