Education

Drake University Law School, J.D., 1980

  • Law Review
  • Order of the Coif

Drake University, M.B.A., with honors, 1977

Drake University, B.S.B.A., magna cum laude, 1977

Admitted

Illinois

U.S. District Court, Northern District of Illinois

Memberships

Chicago Bar Association, Financial Institutions Committee, Past Chair

Chicago Bar Association, Consumer Financial Services Committee, Past Chair

American Financial Services Association

Mortgage Bankers Association

Visa/MasterCard Legal Advisory Committee

Sigma Alpha Epsilon Foundation, National Board of Directors

Delta Sigma Pi Leadership Fund, National Board of Directors

Drake University Alumni Association, National Board of Directors

Drake University National Advisory Counsel on Leadership Development, Chair

Conference on Consumer Finance Law, Governing Committee 

Community

Drake University Law School Board of Counselors

Marc Franson is a partner in the Banking and Financial Services Department and Practice Group Leader of the Bank Corporate Group. He represents financial institutions, finance companies, retailers, other creditors and brokers on an array of financial services matters including regulatory applications, consumer credit transactions, deposit products, bank mergers and acquisitions, licensing, regulatory issues and compliance, sale of non-deposit products, technology contracting, payment processing, portfolio acquisitions/divestitures, fair lending and privacy matters, Internet banking, stored value products and marketplace (P2P) lending. He also represents clients in conjunction with legislative and trade association activities.

Marc counsels interstate and intrastate lenders on all aspects of a variety of secured and unsecured consumer lending programs including credit card, mortgage, home equity, automobile and other installment credit. He has served as counsel in several major bank acquisitions and portfolio sale transactions, assisted clients with federal and state regulatory matters, licensing applications and proceedings, in the development of compliance programs, compliance training and preparation for and assistance with regulatory compliance examinations. This includes advice on FCRA, community reinvestment, and fair lending programs.

Marc was engaged in a unique credit card transaction involving the joint venture of two major banks and a credit card industry consultant involving the establishment and chartering of a credit card bank, the sale of $2,000,000,000 of credit card receivables, along with a contemporaneous securitization and other financing transactions. He also advises clients' participation in various roles in receivable securitization programs. His representation of clients includes the areas of cash management services, electronic funds transfers, merchant credit card and payment processing, outsourcing, data processing and servicing arrangements.

Prior to joining Chapman and Cutler LLP, Marc was Vice President and General Counsel-Credit Card Services of Household International.

Publications

  • Co-Author, "New Maryland Court Decision: Potential Impact on Consumer Marketplace Lenders," Lending Times. July 25, 2016.
  • Co-Author, "The Regulation of Marketplace Lending: A Summary of the Principal Issues (2016 Update)," Chapman and Cutler LLP. April 2016.
  • Co-Author, "Pennsylvania Decision Highlights 'True Lender' Risks," Law360. February 8, 2016.
  • Co-Author, "Federal Court Decision Creates Uncertainty for Non-Bank Loan Assignees Regarding the Scope of Federal Preemption of State Usury Laws," The Banking Law Journal. September 2015.

Presentations

  • 1st Annual Marketplace Lending Policy Summit, How to Navigate State Laws and Regulators, September 2016
  • LendIt USA 2016, Regulation and Politics, April 2016
  • 15th Annual Investors' Conference on Equipment Finance, Realities of Regulation, March 2016
  • ABS Vegas 2016, The Future of Regulation in US Marketplace Lending, February 2016
  • 1st Annual Investor's Conference on Marketplace Lending, Thought Leadership & the Future of Regulation in US Marketplace Lending, October 2015
  • Illinois Bankers Association Bank Counsel Conference, Consumer Finance Update, 2005 – 2015
  • Illinois Credit Union League Conference, 2011 – 2015
  • Illinois Credit Union League Attorneys Conference Speaker, 2010 – 2015 
  • American Banker's P2P Lending & Investing Summit, Innovation and Regulation: Can They Co-Exist in the P2P Space?, October 2014
  • 2013 Annual Conference of the Chicagoland Compliance Association, Consumer Compliance in a Complex Regulatory Environment: The Convergence of Consistency, Change and the CFPB, October 2013
  • 39th Annual Attorneys Conference of the Illinois Credit Union League, Consumer Compliance in a Complex Regulatory Environment: The Convergence of Consistency, Change and the CFPB, September 2013
  • Conference on Consumer Finance Law
  • Electronic Transaction Association Annual Meeting
  • Chicagoland Compliance Association 
  • Chicago Mortgage Attorneys Association 

Honors & Awards

  • Named 2016 Lawyer of the Year in Banking and Finance Law by Illinois Best Lawyers
  • Named by Drake University Law School to its "150 in 150" list, recognizing the school's top 150 alumni on its 150th anniversary in 2015
  • Named in the Banking and Finance Law/Financial Services Regulation Law section of Chicago's Best Lawyers since 2007
  • Rated as a leading banking lawyer by Chambers Global Guide to the World's Leading Lawyers
  • Named in the Banking section as an "Illinois Super Lawyer" every year since 2007