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Richard P. Eckman is of counsel in the Wilmington office of Pepper Hamilton LLP and from 2003 to 2015 was chairman of the firm’s Financial Services Practice Group.
Mr. Eckman’s transactional practice focuses on representing financial institutions, corporations and other entities in complex financing transactions, including asset securitizations and other lending and venture transactions.
He represents financial institutions and non-regulated entities, including marketplace lenders in many areas, including consumer finance, small business lending, merchant cash advance and co-branding relationships. He also represents many clients in dealing with payment issues including dealing with FinCEN and state money transmitter statutes. He specializes in helping non-bank lenders and their service providers in designing and launching online lending platforms and businesses that operate on a national basis. He also has represented a number of American Indian tribes in launching online lending businesses.
He was chairman of the Commercial Law Section of the Delaware Bar Association from 1989-91 and of its Banking Law Committee from 1984-92. He formerly was the general counsel of The Chase Manhattan Bank (USA), N.A., the national credit card subsidiary of Chase (now JP Morgan Chase) located in Wilmington which he helped establish. He represented and was a director and secretary of FCC National Bank now part of Chase USA, the credit card subsidiary of The First National Bank of Chicago. He is active in and held leadership positions on the Consumer Financial Services Committee of the American Bar Association. He is a member of the Lawyers Committee of the Consumer Bankers Association and is a Fellow (and former Regent) of the American College of Consumer Financial Services Lawyers. He is an active writer and speaker on consumer finance issues including marketplace lending.
Mr. Eckman was a founder and president of the Delaware Entrepreneurs’ Forum, and was for many years a member of the board of directors and treasurer of the Delaware Innovation Fund, a nonprofit seed and preseed venture capital fund.