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Michael Caughey advises clients on commercial transactions, particularly within the payment systems and technology industries. Informed by his extensive experience advising on a range of agreements, his approach emphasizes clear and continuous communication, prioritizing objectives, and an ability to quickly react when the unexpected occurs.
Michael represents credit card issuers, FinTechs, and retailers in connection with co-branded and private-label credit card programs, portfolio sale transactions, processing agreements, mobile wallets, and other technology endeavors. He also represents a variety of clients in connection with corporate financing transactions, including secured credit facilities and asset dispositions.
Practice Highlights
Network deals
Advising financial institutions and retailers in connection with a variety of payment network relationships. Card branding relationships can involve both broad portfolio commitments by issuer or portfolio specific relationships between retailers and the payment networks. Regularly represent both issuers and FinTechs in connection with digital payments and mobile wallet services.
Private label and co-brand deals
Assisting issuers and retailers in connection with private label and co-branded credit card programs across a range of industries and portfolio sizes. Regularly structure programs involving complex loyalty program integrations, technology enablement and oversight of interface between consumer credit and retail sales practices.
Bank program partnerships
Assisting in the establishment of bank program partnerships, including program agreements, servicing arrangements and receivables purchases and sales. Adept at interfacing with compliance teams in connection with the development of the full range of policies and procedures necessary to safely and effectively implement a program. Regularly advise on structuring transactions in pursuit of “True Lender” and true sale treatment.
Credit card program agreements and processing agreements for U.S. credit card issuers, processors and acquirers
Representing multiple U.S. credit card issuers in connection with co-branded and private label card agreements with airline, big box and specialty retailers and related affinity/loyalty programs and private label credit card programs; representing processors and acquirers in connection with transaction processing agreements. (Ongoing)
Credit card program agreements and processing agreements for retail merchants
Representing retailers in connection with co-branded and private label card agreements across a range of industries; representing retailers in connection with payment processing agreements. (Ongoing)
Bank program agreements
Representing retailers in connection with bank program agreements with FDIC regulated financial institutions, including program agreements, compliance materials, and receivables purchases and sales. (Ongoing)
Financial asset sales
Representing various U.S. retailers and credit card issuers in connection with the sale of fixed and revolving accounts and related receivables. (Ongoing)
Credit facilities
Representing borrowers across a range of industries in connection with obtaining secured credit facilities for working capital or acquisition purposes. (Ongoing)
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Admitted to Practice
- Washington, 2007
- New York, 2005
Education
- J.D., University of Washington School of Law, 2004
- B.A., Whitman College, 2001, with honors
Professional Recognition
- Named as one of "America's Leading Lawyers for Business" by Chambers USA in Banking & Finance (Washington), 2022-2024
- Selected to "Washington Rising Stars," Thomson Reuters, 2013-2014
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03.05.25
Presentations
Speaker, "Credit Card Commercial Contract Considerations," Credit Card Bank Compliance Association Conference, Washington, D.C.
Publications
06.10.24
News
New Chambers Rankings Affirm Davis Wright Tremaine's National Leadership in Key Industry Sectors Read More Publications
06.05.23
News
Chambers USA Recognizes Davis Wright Tremaine for Leadership Across Key Industry Sectors and Honors the Firm for Excellence in 51 Practices Read More CFS
03.24.16
Insights
Financial Services Litigation and Enforcement
Agreements between Lending Club and WebBank Read More Insights
10.12.10
Advisories
Energy
FERC Opens Docket for Smart Grid Rulemaking Proceeding Read More
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