Advising both banks and broker-dealers on the spectrum of regulatory issues, A&O Shearman is well-placed to assist with broker-dealer licensing and matters concerning capital requirements, regulatory investigations and AML measures. Jennifer Morton takes the lead on both regulatory and compliance matters, with banks, investment firms and broker-dealers coming to her for advice on SEC and FINRA regulations tied to net capital, trade reporting and corporate financing rules. Taylor Pugliese is noted for her specialization in broker-dealer regulations and cross-border requirements that apply to a variety of financial institutions. All lawyers mentioned are New York-based.

Arnold & Porter handles the gamut of banking and consumer finance work, advising bank clients on Dodd-Frank regulations and dealings with the SEC, while also advising broker-dealers on their responsibilities under the Exchange Act and Securities Act. Washington DC-based banking and securities specialist David Freeman also advises a variety of lenders on interactions with the CFPB and FTC in addition to helping clients navigate UDAAP rules. Also in Washington DC, Michael Mancusi and practice head Kevin Toomey serve as key contacts for advice in government investigations and enforcement proceedings, including the OCC and OFAC, while also advising on bank and financial data privacy matters. The firm grew its banking regulatory expertise in March 2023 with the arrival of the Federal Reserve Bank of New York’s James Bergin, while in San Francisco, litigator Meredith Osborn joined from the City Attorney’s Office in September 2023.

Noted for its experience in defending clients facing regulatory enforcement action from the CFPB and other agencies, Ballard Spahr LLP advises investment banks and private equity houses across a range of matters, with a growing caseload of crypto asset-related litigation. Payment systems and other fintechs also form a core part of the firm’s varied client base, which the practice advises on buy now, pay later, earned wage access and income sharing agreement products. Co-heading the team are Washington DC-based John Socknat, who assists clients in the run-up to compliance audits by state and federal regulators, and Daniel McKenna, a litigation specialist who takes on class actions and arbitration hearings in relation to mortgage, auto and credit card loans. John Culhane Jr. specializes in student loan regulations, with further expertise in mortgage loan and leasing plans. All lawyers are Philadelphia-based unless otherwise specified. Lisa Lanham left the firm in April 2024.

Cadwalader, Wickersham & Taft LLP advises a range of banks and other lenders on the gamut of regulatory challenges, advising on Volcker Rule matters, the transition away from LIBOR and issues tied to derivatives transactions, while also assisting auto lenders, mortgage providers, and other lenders on compliance and enforcement actions. The banking arm of the practice is led from New York by James Frazier and Ivan Loncar, both of whom specialize in the structuring of derivatives and other financial products. Peter Malyshev, based in Washington DC, is a key contact for clients offering products regulated by the SEC and CFTC, handling both transactional, compliance, and regulatory issues. Leading the consumer finance team from Washington DC is Mercedes Tunstall, a specialist in payment and deposit regulations in addition to CFPB enforcement actions. Rachel Rodman departed the firm in February 2024.

Cleary Gottlieb Steen & Hamilton is noted for its expertise in advising both US and international banks, handling matters tied to restructuring, asset management and compliance with Bank Holding Company Act and Volcker Rule provisions, among others. The practice is also frequently sought out by clients facing regulatory and enforcement actions by the SEC and FINRA, and was active in supporting clients in the wake of the 2023 banking crisis, where it provided assistance with the FDIC resolution process. Washington DC-based practice head Derek Bush offers extensive expertise in Dodd-Frank regulations, bank restructuring and government investigations. In New York, Hugh Conroy focuses on structured finance and derivative transactions in addition to his work on Dodd-Frank, while Patrick Fuller, also in New York, handles bank licensing issues in addition to bank M&A. January 2023 saw the firm augment its broker-dealer specialization with the acquisition of James Burns and Brant Brown, both arriving in Washington DC from Willkie Farr & Gallagher LLP.

Cooley LLP‘s financial services team handles a broad spectrum of regulatory matters, with a particular niche in fair banking and lending, where the practice has increasingly been advising on rules governing the use of AI and LLMs in loan decisions. The firm also defends banks and credit lenders facing regulatory enforcement, regularly liaising with the CFPB, OCC, and the Federal Reserve. The practice’s leadership group, based in Washington DC, consists of payments and lending expert Obrea Poindexter, who advises on matters under the Gramm-Leach-Bliley Act and FCRA, and litigation and enforcement-focused Michelle Rogers, with Sean Ruff taking the lead on fintech regulation, including non-bank lending structures, EFTA matters, and AML compliance. Joshua Kotin is called upon by banks and consumer finance providers facing DOJ, CFPB, and FTC enforcement, while Kate Goodman maintains a broad practice that encompasses issues from licensing to litigation; both are based in Chicago.

In addition to advising banks and fintechs on federal and state banking regulations and requirements under Dodd-Frank and Basel III and the regulatory requirements of transactions and bank alliances, Cravath, Swaine & Moore LLP‘s Washington DC-based financial regulatory team also supports clients with their crypto-asset dealings. Under the leadership of Jelena McWilliams, who took up the role following David Portilla‘s departure in April 2023, the team is frequently called upon to handle disputes arising out of regulatory issues. The arrival of Jeffrey Dinwoodie, also in April, from JPMorgan Chase’s team, saw the firm augment its finance and crypto-asset regulatory practices, and he is also noted for his experience in supporting industry bodies in relation to policy initiatives.

Banks, fintechs and other financial institutions turn to Davis Polk & Wardwell LLP for advice across the spectrum of US banking regulations, including Dodd-Frank, Basel III and AML rules in addition to tackling the regulatory aspects of M&A and capital markets transactions. The practice is also well versed in providing support in the event of crises, having represented multiple bridge banks in their acquisitions of domestic banks that failed in the 2023 banking crisis. Leading the practice are Randall Guynn, whose practice ranges from bank chartering and enforcement actions to payment systems and cryptocurrency, and Margaret Tahyar, who specializes, inter alia, in governance, securities disclosures and the Federal Reserve’s liquidity programs. Luigi De Ghenghi is noted for his knowledge of bank liquidity requirements, advising on Basel III rules in addition to compliance issues, with Gabriel Rosenberg focusing on leading clients through regulatory investigations, including those led by the SEC, CFTC and OCC. The return of David Portilla from Cravath, Swaine & Moore LLP in April 2023 saw the practice strengthen its understanding of prudential standards, and he also assists clients with the Volcker Rule and crypto regulations. All aforementioned lawyers are based in New York.

Debevoise & Plimpton LLP is a strong choice for banks undergoing restructuring measures, and is also able to assist with regulations that apply to foreign banks in addition to advising non-bank financial institutions, including insurers, fintechs and broker-dealers on the formation of banking operations. The firm also represents clients facing enforcement actions, including those tied to AML, securities and sanctions compliance regulations. These are areas of expertise for Washington DC-based practice co-head Satish Kini, who represents banks and trade associations in matters ranging from OFAC investigations to regulatory issues arising out of transactions. New York’s Gregory Lyons heads the team alongside him, focusing on advising on the establishment of banking entities in addition to assisting with investigations launched by the likes of the Federal Reserve Board, the OCC and SEC among others. Caroline Swett, also based in New York, straddles transactional and regulatory matters, advising on bank M&A in addition to supporting clients with Regulation W matters, as well as supervisory examinations and downgrades. Counsel Alison Hashmall is noted for her cryptocurrency practice, while Chen Xu handles a range of bank regulatory issues; both are located in New York.

Dentons‘ team of consumer finance specialists represents a number of global banks and private equity investors engaged in consumer lending, with particular expertise in the mortgage market, where the firm assists clients active in the primary and secondary residential mortgage arenas. Student lenders, credit reporting agencies and credit card companies round out the firm’s client roster, which the practice handling dealings with the CFPB and state regulators. Spearheading the firm’s efforts on this front are New York’s Matthew Yoon and Washington DC-based John Holahan, both of whom offer a combined financial services and capital markets regulatory practice. Also based in New York, Joshua Jordon advises a range of consumer credit lenders on state and federal regulations, including TILA, RESPA, and ECOA among others.

Gibson, Dunn & Crutcher LLP brings together experience in state and federal banking regulations, in combination with experience in regulatory enforcement and investigations specialization to advise banks and bank holding companies on AML and OFAC requirements. Heading the practice are Stephanie Brooker and Kendall Day, both of whom offer experience in handling enforcement actions brought by a range of regulatory bodies, including the DOJ, SEC and Federal Reserve Board. Matters pertaining to international trade and the FCPA are the domain of Adam Smith, with Jeffrey Steiner taking the lead on regulations governing blockchain and digital assets in addition to derivatives matters under the purview of Dodd-Frank and the CFTC. March 2023 saw the firm’s fintech regulatory practice strengthened by the arrival from Paul Hastings LLP of Sara Weed and in New York, Jason Cabral. All named lawyers are based in Washington DC unless otherwise specified.

With a strong emphasis on the consumer finance sector, Greenberg Traurig LLP assists clients offering mortgages, credit cards, earned wage access products and revenue share arrangements, accompanying them through regulatory investigations and advising them on licensing and transactions in the industry. Heading the group are Denver’s Richard Cutshall, who is well versed in SEC regulations, and William Mack, a New York-based broker-dealer regulation specialist. In Washington DC, Andrew Wein, who splits time between the capital and West Palm Beach, is an authority on a spectrum of regulatory legislation, including RESPA and TILA.

Under the guidance of Charlotte-based Todd Cubbage and Dallas-based LeAnn Chen, who also splits time between Chicago and Shanghai, Haynes and Boone, L.L.P. ‘has an outstanding grip on the market’ as it pertains to global credit risk management, with the firm assisting a number of foreign financial institutions, as well as regulatory challenges tied to derivatives and commodities trading, where the team advises on Dodd-Frank, Volcker Rule, and Basel III compliance among a range of other matters. In New York, Giorgio Bovenzi, who is also qualified in Italy, specializes in credit risk management, advising banks on their capital requirements under Regulation Q, while Craig Unterberg handles issues tied to margin lending, including Regulation U issues.

Mortgage lenders, auto loan providers and credit card companies are among a spectrum of clients that Husch Blackwell LLP advises on compliance with a variety of state and federal regulations, including inter alia the FCRA, ECOA and TILA. Madison-based Marci Kawski leads the practice, with in depth knowledge of a number of Wisconsin-specific laws in addition to national consumer finance regulations. ‘Exceptional attorney’ Susan Seaman, who advises clients out of Columbus via the firm’s virtual office, assists with the gamut of regulations governing credit, deposit and payment systems, with Christopher Friedman, who also advises virtually, supports clients looking to enter new jurisdictions or launch new products.

The ‘very strong practice’ at Latham & Watkins LLP counts a range of global banks, funds and broker-dealers among its clients, whom it assists with major transactions and associated regulatory challenges, in addition to providing regulatory support as it relates to derivatives, broker-dealer registrations and restructuring measures. The team is also accustomed to handling proceedings before regulatory bodies, including FINRA, NFA and the SEC among others. Leading the group is the New York-based triumvirate of Stephen Wink, Yvette Valdez and Arthur Long, who joined the leadership team following the retirement of Alan Avery in January 2023. Marlon Paz, who splits time between New York and Washington DC, is noted for his work advising broker-dealers on all aspects of securities regulation and enforcement, with New York-based Jenny Cieplak focusing on regulatory issues arising out of the fintech sector. Also located in New York, Pia Naib advises banks and other financial services clients on crypto regulations in addition to issues tied to Dodd-Frank, the Volcker Rule and the Consumer Protection Act.

Linklaters LLP is well positioned to handle cross-border mandates, advising banks on regulatory requirements tied to acquisitions and under the BHCA, in addition to providing day-to-day support on capital requirements and prudential standards, cryptocurrency matters, AML and sanctions compliance. Jointly heading the practice are New York’s Brad Caswell, who assists on compliance standards under the Investment Advisers Act of 1940 and represents fund managers before the SEC, and Don Waack, based in Washington DC and focusing on control determinations and regulations governing investment activity. June 2023 saw Zila Acosta-Grimes join the team from Debevoise & Plimpton LLP in New York, handling the regulatory aspects of bank transactions, while in January of the same year, Tanin Kazemi arrived in the firm’s Washington DC office from the SEC, with a practice that encompasses the Volcker Rule, insider trading and SEC registration matters.

The practice at Mayer Brown was reinforced in January 2023, with former Sidley Austin LLP lawyers Tim Nagy and Michael Hyatte both joining the firm, with the former focusing on broker-dealer regulations, including SEC and FINRA investigations, and the latter advising on rules governing securities offerings and private placements under the Securities Act of 1933 and the Securities Exchange Act of 1934 among others. The team is noted for its work in the payments sector, while also advising consumer credit lenders on ECOA compliance across a range of lending programs, including mortgages. Leadership of the practice is shared between Jeffrey Taft, who is well versed in matters under the BHCA and Fair Credit Reporting Act, with his colleague Steven Kaplan concentrating on the licensing and operation of consumer credit institutions, such as mortgage lenders and card issuers. Co-heading the practice from New York, Steffen Hemmerich counsels broker-dealers on SEC regulations and those concerning blockchain and other digital assets. All lawyers are Washington DC-based unless otherwise specified.

Moore & Van Allen, PLLC‘s Charlotte-based financial regulatory practice is frequently called upon to represent banking clients in dealings with the SEC, FINRA, and FDIC among a range of other regulatory bodies, with further expertise in Dodd-Frank regulations, AML guidelines, and their burgeoning intersection with AI. The team is led by compliance specialist and former BofA general counsel Edward O’Keefe, and Neil Bloomfield, who specializes in assisting banks with their transitions from LIBOR, in addition to assisting with CCAR stress testing. Kate Wellman is also engaged in LIBOR transitions, with further expertise in recovery and resolution planning.

Morrison Foerster handles the full spectrum of regulatory matters affecting the day-to-day operations of banks, fintechs and payment service providers and lenders, including advice on BHCA and International Banking Act compliance, the Volcker Rule and AML issues, while also supporting clients facing government investigations. The practice is led in tandem by ‘very best in the business’ Jeremy Mandell, who advises on both regulatory and commercial issues linked to consumer financial products out of Washington DC, while in New York Jeffrey Silberman specializes in fintech-related regulation, including as it relates to banking-as-a-service, payment systems and digital lending. New York’s Marc-Alain Galeazzi‘s practice is centered around compliance, covering AML, sanctions and OFAC matters and CFT issues, with Evan Minsberg, made partner in New York in January 2024, assisting clients with money transmission, licensing and broker issues. Val Dahiya, who joined the firm’s Washington DC office from Perkins Coie LLP in October 2023, dedicates her practice to capital markets and broker-dealer compliance, including dealing with the SEC and FINRA.

Orrick, Herrington & Sutcliffe LLP‘s financial regulation specialists advise on the spectrum of consumer finance issues, ranging from mortgages and credit cards to innovative payment and digital asset systems. The practice is recognized in particular for its advice on fair lending regulations and is a popular choice for credit lenders facing enforcement actions brought by the DOJ, CFPB and HUD alleging discriminatory lending practices. Leadership of the group is split between Clinton Rockwell, a licensing and compliance specialist based in Santa Monica, and New York-based fintech specialist Daniel Forester. Washington DC’s Marshall Bell ‘offers unparalleled consumer regulatory compliance counseling,’ including on FCRA matters and Regulation Z, in addition to assisting firms seeking regulatory approval for transactions.

Paul Hastings LLP is frequently tasked with the representation of banks and other credit lenders in enforcement actions brought by the CFPB, DOJ, FTC, and a variety of state regulators and attorneys general, handling claims falling under fair lending regulations, including ECOA. Mortgage lenders, student loan and credit card providers form the core client base, with the practice assisting them with fair lending and UDAAP compliance. The team is led jointly by Allyson Baker, a trial lawyer who represents consumer finance companies in non-public CFPB hearings, and Jonice Gray, whose practice encompasses both trial representation and compliance advice under, inter alia, the FCRA, ECOA, and TILA. Matthew Previn, based in New York, and Kari Hall are also recommended for their experience in handling enforcement matters. All lawyers are located in Washington DC unless otherwise specified.

Schulte Roth & Zabel LLP‘s New York-based regulatory specialists are adept at tackling issues pertaining to a range of private funds, advising hedge, private equity and VC fund managers on SEC investigations and internal compliance procedures, and with an increasing focus on the matters straddling the boundary between fund regulations and generative AI. The practice is also noted for its work in the broker-dealer sector, where it focuses on Dodd-Frank and Volcker Rule compliance in addition to liaising with FINRA and the SEC, including regarding the proposed Consolidated Audit Trail program. Craig Warkol and Julian Rainero specialize in broker-dealer regulatory enforcement matters, including those tied to securities trading. Co-managing partner Marc Elovitz and Kelly Koscuiszka guide fund managers through the Investment Advisers Act of 1940, with the former also assisting with digital asset trading and blockchain issues. Banking regulatory issues are the primary focus of Donald Mosher‘s practice, which encompasses the licensing of money transmitters and payment processors.

Regulatory matters tied to transactions form the core of Simpson Thacher & Bartlett LLP‘s work in this space, with the firm advising banks, private equity houses, payment processors and insurers on deals in the banking and fintech sectors among others. Alongside its transactional expertise, the team also assists with Dodd-Frank and Basel III compliance. Lee Meyerson leads the team out of New York, with a strong track record of overseeing major bank M&A deals, complemented by a capital markets practice that covers a range of debt and equity offerings. Elizabeth Cooper is the name of choice for a number of global private equity houses for major acquisitions and disposals, while Ravi Purushotham handles large bank M&A; both are based in New York. Amanda Allexon joined the firm’s Washington DC office from Wachtell, Lipton, Rosen & Katz in April 2023, advising on the regulatory aspects of M&A transactions while also representing clients before the Federal Reserve, OFAC and FDIC. April 2024 saw the team further strengthened by the arrival from Skadden, Arps, Slate, Meagher & Flom LLP of Sven Mickisch, Matthew Nemeroff and Tim Gaffney in New York and Brian Christiansen in Washington DC.

Skadden, Arps, Slate, Meagher & Flom LLP is adept at handling large M&A in the sector and tackling associated regulatory hurdles. The team represents banks and other major financial institutions, including fintechs, insurers and payment systems companies on a variety of transactions, ranging from M&A to carve-outs and strategic partnerships. Co-head of the firm’s fintech practice Jeffrey Brill, based in New York, advises clients on governance issues. In Washington DC, Collin Janus represents clients including banks and bank holding companies in investigations before the Federal Reserve, OCC and FDIC while also providing compliance advice. Sven Mickisch, Brian Christiansen, Bao Nguyen, Matthew Nemeroff and Tim Gaffney departed the firm in April 2024.

Troutman Pepper is adept at supporting clients offering consumer finance products, advising on the structuring of products ranging from buy now, pay later transactions to auto loans and mortgages. Spearheading the firm’s efforts are Atlanta’s Chris Willis, a specialist in UDAAP compliance, and Michael Lacy, a Richmond-based litigator who represents clients facing actions under the FCRA and state UDAAP laws. In Philadelphia, Mark Furletti specializes in regulations governing consumer and small business lending and related enforcement actions, while in Atlanta, Stefanie Jackman concentrates her efforts on representing clients facing government investigations and a variety of compliance issues. Washington DC-based Kevin Petrasic joined the firm in March 2024 from Davis Wright Tremaine, contributing significant expertise in complex financial institution regulatory issues.

Venable LLP advises clients in the payments, fintech and banking sectors on the regulatory landscape governing their daily operations, including the licensing and setup of new consumer lending products. The practice is also tasked with representing said clients when facing regulatory investigations and enforcement actions by the CFPB and FTC. Leading the practice is a five-person team consisting of payment systems specialists Ellen Berge and Andrew Bigart, and experienced litigators Michael Bresnick, Leonard Gordon, and Jonathan Pompan, who represent clients in actions brought by the DOJ, among others. All are based in Washington DC, with the exception of Gordon, who is located in New York. Max Bonici joined the firm’s Washington office from Orrick, Herrington & Sutcliffe LLP in July 2023, handling bank prudential regulations, internal investigations and BHCA matters.

White & Case LLP‘s financial services team advises clients on a wide range of regulatory challenges and is the practice of choice for a number of foreign banks seeking to do business in the US. In addition to tackling regulatory challenges tied to day-to-day operations, including Volcker Rule compliance, the firm also advises on innovative blockchain and digital asset systems and transactions. New York’s Douglas Landy spearheads the firm’s efforts on this front, with his practice covering capital requirements and bank insolvency regulations, rules governing stablecoins and M&A-related regulatory matters. Cadwalader, Wickersham & Taft LLP‘s Rachel Rodman joined the firm in February 2024, bringing with her expertise in defending banks and fintechs in the face of federal and state enforcement actions, in addition to overseeing internal investigations.