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Brenna Elizabeth McGee Associate

Brenna McGee is an associate in the Austin, Texas office of Dykema. She focuses her practice on financial services, financial technology (FinTech), and regulatory and compliance matters, advising financial institutions and alternative and emerging payment providers and FinTech companies on regulatory and compliance matters, product design and development, and commercial transactions.

Prior to joining Dykema, Brenna was an Assistant General Counsel at the Texas Department of Banking, where she developed her expertise in money transmission, currency exchange, and bank and trust matters. Brenna has extensive experience in money services business (MSB) licensing and compliance, digital payments, mobile wallets, prepaid cards, virtual currencies, bank conversions and mergers, and enforcement and prohibition actions.

Brenna frequently advised Department leadership on emerging issues affecting the banking and payments industries, particularly relating to emerging technology and payment systems. She led the development of Texas’ policy prohibiting MSBs from “renting” their licenses, which published in Supervisory Memorandum 1038. She participated in the Uniform Law Commission’s drafting of the Uniform Regulation of Virtual Currency Businesses Act, providing key insights from the regulator perspective. Brenna also testified before the Texas Legislature in 2017 on proposed money transmission legislation and met with several legislators regarding the “startup license” proposal that she co-authored.  The proposal — which recommends a new licensing scheme for FinTech startups that would lower the barrier to entry by allowing startups to partner with established MSBs as they grow into the requirements for full licensure — is on the Texas Legislature’s list of policy issues to be considered in the run-up to the 2019 Texas Legislative Session session.

Brenna is in her third term as the Chair of the Financial Institutions Section of the Austin Bar Association.

Memberships & Involvement

  • State Bar of Texas
  • Austin Bar Association
    • Chair, Financial Institutions Section

Community/Civic Activities

  • Georgetown Alumni Club of Austin
  • Georgetown University Alumni Admissions Program
  • University of Texas Ex-Student Association (Texas Exes)