Mr. Beam is a partner in the Mortgage Banking and Consumer Financial Products Group. He represents a diverse range of consumer financial service providers, including:
- Mortgage lenders, servicers, and investors;
- Prepaid card issuers and sellers;
- Credit card companies;
- Student loan companies; and
- Consumer finance companies
He has also helped new entrants into the financial services arena—such as wireless carriers—navigate federal and state financial laws.
Federal Preemption
A large part of his practice is advising clients on federal preemption of state and local laws regulating financial products. He handles complex preemption issues for different types of companies, including:
- State- and federally-chartered banks;
- Operating subsidiaries and other affiliates of banks;
- Mortgage bankers;
- Servicers of loans originated by other institutions; and
- Finance companies.
He has represented clients in enforcement proceedings where regulators are challenging federal preemption claims. He also is vice chair of the Preemption and Federalism Subcommittee of the ABA's Consumer Financial Services Committee.
Prepaid Cards and Payment Devices
Mr. Beam has advised issuers of prepaid cards and payment devices on a range of regulatory issues affecting the prepaid industry. His experience includes:
-
Developing program terms that comply with state and federal gift card laws;
-
Assessing application of money transmitter licensing requirements;
-
Advising clients on Bank Secrecy Act and state money laundering requirements; and
-
Helping clients to structuring prepaid programs to minimize regulatory burdens
Mr. Beam was a law clerk for the Honorable Robert W. Clifford of the Maine Supreme Judicial Court from 2001 – 2002.