Financial services regulation in United States

A&O Shearman

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.

Responsables de la pratique:

Jennifer Morton


Autres avocats clés:

Taylor Pugliese


Les références

‘The team is being augmented via its merger with A&O and will be exceptionally strong. The knowledgebase to assist all manner of corporate transactions (credit, M&A, securities issuance and underwriting and private equity, as well as core regulatory expertise) is all there.’

‘My experience with Shearman’s team is that they are knowledgeable and responsible.’

‘Jennifer Morton is an excellent broker dealer regulatory lawyer.’

Principaux clients

Bank of America


Mizuho Financial Group


Itaú Unibanco


Banco Bradesco


Development Bank of Japan


Société Générale S.A.


Bank of Nova Scotia


Intercontinental Exchange


Citigroup Inc.


Landesbank Baden-Württemberg


Rabobank


BNP Paribas


Barclays


The Toronto-Dominion Bank


Plaid


JPMorgan Chase


Sumitomo Mitsui Banking Corporation


SAP SE


Morgan Stanley


Wells Fargo


Principaux dossiers


  • Represented Société Générale in connection with its business combination with AllianceBernstein that would combine their cash equities and equity research businesses.
  • Represented Mubadala Investment Company PJSC in its acquisition of Fortress Investment Group from SoftBank Group Corp.
  • Represented Gemini Galactic Markets, LLC in connection with its registration as a broker-dealer with the SEC and FINRA membership.

Arnold & Porter

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.

Responsables de la pratique:

Kevin Toomey


Autres avocats clés:

Michael Mancusi; David Freeman; Amber Hay; Anthony Raglani; James Bergin; Meredith Osborn


Les références

‘Arnold & Porter has a collegiate approach which enables it to provide cross-transactional advice (e.g. financing, lobbying, regulatory).’

Principaux dossiers


  • Advised Bessemer Trust on banking law compliance, Bank Holding Company Act, OCC, and FDIC rules and also provided advice on private investment funds and Volcker Rule and structure and documentation of private investment funds.
  • Represented Federated Hermes with respect to advocacy on US and European money market mutual fund regulatory and legislative issues.
  • Represented BAWAG Group on general US regulatory compliance matters.

Ballard Spahr LLP

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.

Responsables de la pratique:

John Socknat; Daniel McKenna


Autres avocats clés:

John Culhane, Jr.; Michael Guerrero


Les références

‘We have found their regulatory licensing to be above the level of competence and service that we have experienced in the past.’

‘Extremely personable in addition to having the expertise to streamline the regulatory licensing aspect of our business.’

Principaux clients

American Bankers Association


Consumer Bankers Association


Mortgage Bankers Association


Real Estate Services Providers Council, Inc


Benefit Street Partners


Avant, LLC


Strike Acceptance, Inc.


TAB Bank


WebBank


Fifth Third Bank


South State Bank


Metropolitan Commercial Bank


First Electronic Bank


Community Federal Savings Bank


Bancorp Bank


Cadwalader, Wickersham & Taft LLP

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.

Responsables de la pratique:

James Frazier; Ivan Loncar; Mercedes Tunstall


Autres avocats clés:

Peter Malyshev


Les références

‘Experienced, sophisticated, capable attorneys with real courtroom experience and strong brief writing capabilities.’

‘Stronger candle power, proved track record of good results, great relationships with government agencies.’

Principaux clients

Alternative Reference Rates Committee


BNY Mellon


IntraFi Network


Kraken (Payward, Inc.)


Principaux dossiers


  • Advised a multinational bank regarding the permissibility under the International Banking Act and Bank Holding Company Act of a minority investment in a green energy focused investment entity.
  • Represented Kraken (Payward, Inc.) in matters concerning consumer protection, money transmission, and digital assets.
  • Advised a developer of a cryptocurrency trading platform on crypto-related product offerings and assisted in related registrations.

Cleary Gottlieb Steen & Hamilton

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.

Responsables de la pratique:

Derek Bush


Autres avocats clés:

Hugh Conroy; James Burns; Brant Brown; Lauren Semrad; Patrick Fuller


Principaux clients

Miami International Holdings, Inc.


ING


BNP Paribas


Citigroup


Credit Suisse


Deutsche Bank


Goldman Sachs


Standard Chartered


Institute of International Bankers


American Express


Banco Estado


Banco Bilbao Vizcaya Argentaria S.A. (BBVA)


HSBC


Natixis


Mizuho Financial Group


Bank of America


Toronto Dominion Bank


PayPal, Inc


Sumitomo Mitsui Banking Corporation


Société Générale


Securities Industry and Financial Markets Association (SIFMA)


Cooley 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.

Responsables de la pratique:

Michelle Rogers; Obrea Poindexter; Sean Ruff


Autres avocats clés:

Joshua Kotin; Kate Goodman


Principaux clients

Regions Bank


Bank of the West


Principaux dossiers


  • Advised multiple banking, financial services and fintech clients on the implications of the SVB and Signature Bank failures.
  • Assisted clients with fair lending issues, including overseeing their expected regulatory testing frameworks, engaging with outside consultants and experts to support such testing, and assisting with new initiatives, such as AI and Learned Language Models.
  • Advised two non-bank mortgage lenders on their loan officer compensation practices to assess current practices’ compliance with the law.

Cravath, Swaine & Moore LLP

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.

Responsables de la pratique:

Jelena McWilliams


Autres avocats clés:

John Buretta; Jeffrey Dinwoodie; Will Giles


Principaux clients

Citi


Cowen


Dfinity


Global Financial Markets Association


Goldman Sachs


Morgan Stanley


Nomura


Robinhood


Silvergate


Thrivent


Principaux dossiers


  • Advised Silvergate in connection with its voluntary self-liquidation and related bank regulatory, investigative, securities and restructuring matters.
  • Advised Cowen on regulatory issues in connection with its $1.9b acquisition by Toronto-Dominion Bank.
  • Assisted Jefferies with bank regulatory matters in connection with the expansion of its strategic alliance with Sumitomo Mitsui Banking Corporation.

Davis Polk & Wardwell LLP

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.

Responsables de la pratique:

Margaret Tahyar; Randall Guynn


Principaux clients

ABN AMRO Bank N.V.


Absa Group Limited


Ally Financial


American Bankers Association


American Express Global Business Travel


Ameriprise Financial


AXA


Bank Leumi/Bank Leumi USA


Bank Policy Institute


BBVA Compass


BNP Paribas


Bank of America


Banco de Credito del Peru


Banco del Estado de Chile


Banco Santander


Bank of China


Bank of Montreal


Bread Financial


C1 Financial


Canadian Imperial Bank of Commerce


Charles Schwab


Cinda Asset Management


CIT Group


Citigroup


Comerica


Commerzbank


Corpbanca


Crédit Agricole


Credit Suisse


Diem Association


DTCC


E-TRADE


Fair Square Financial


Fifth Third


Figure Technologies


Financial Markets Association


First Global Trust Bank


First International Bank of Israel


First Interstate BancSystem


First NBC Bank


Galaxy Digital


Galileo Financial Technologies


Green Dot


Harvest Fund Management PLC


HSBC


Huntington


ICICI


Institute of International Bankers


Intesa Sanpaolo


Israel Discount Bank


Jefferies Financial Group


JPMorgan Chase


Klarna


Meta


Meta Financial Technologies


Mizuho


Morgan Stanley


Natixis


Natwest Group


Nuvei Corporation


One West


PNC


PIMCO


Rabobank


Regions Financial Corporation


Robinhood


Royal Bank of Scotland


SIFMA


Signature Bridge Bank


Silicon Valley Bridge Bank


Société Générale


SouthState Bank


State Street


Sumitomo Mitsui Banking Corp


Synovus


Swiss Re


TIAA


Truist


UBS Bank USA


United States Treasury Department


U.S. Bancorp


USAA


VersaBank


Westpac


Zions Bancorporation


Debevoise & Plimpton LLP

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.

Responsables de la pratique:

Satish Kini; Gregory Lyons


Autres avocats clés:

Jeff Robins; Caroline Swett; Alison Hashmall; Chen Xu


Principaux clients

Bank of New York Mellon


BMO Financial


Citibank


Credit Suisse


Edward Jones Trust Company


Fifth Third Bancorp


Financial Services Forum


Institute for International Bankers


J.P. Morgan


Key Bank


M&T Bank Corporation


Mizuho Bank


Northern Trust Company


Prudential Financial


Thrivent Financial for Lutherans


The Risk Management Association


Santander Holdings USA


Principaux dossiers


  • Assisted M&T Bank Corporation and its subsidiary, Wilmington Trust, N.A. in the sale of WTNA’s Collective Investment Trust business to funds affiliated with Madison Dearborn Partners, LLC.
  • Advised Edward Jones Trust Company on the regulatory implications of adjusting fees on certain non-discretionary IRAs managed by its affiliate.

Dentons

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.

Responsables de la pratique:

Matthew Yoon; John Holahan


Autres avocats clés:

Joshua Jordon


Principaux dossiers


  • Advised Barclays’ mortgage trading and underwriting desks on Wall Street in connection with the management of financing lines and residential mortgage assets.
  • Advised Citibank’s mortgage financing, trading and securitization desks on mortgage regulatory issues.
  • Advised ATLAS SP Partners’ on consumer finance compliance issues related to establishing residential and commercial business lines for a new entity.

Gibson, Dunn & Crutcher LLP

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.

Responsables de la pratique:

Stephanie Brooker; Kendall Day


Autres avocats clés:

Adam Smith; Jeffrey Steiner; Jason Cabral; Sara Weed; Ella Capone


Principaux clients

Wells Fargo


Deutsche Bank


Regions Bank


Mastercard International


Binance Holdings


Ceridian HCM/Ceridian National Trust Bank


Intuit


Alviere


Appriza Pay


Greenberg Traurig LLP

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.

Responsables de la pratique:

Richard Cutshall; William Mack


Autres avocats clés:

Andrew Wein


Principaux clients

Cross River Bank


Lendable Operations Ltd/Zendable, Inc.


Ocwen Financial Corporation


Quo Finance


Tandym, Inc.


Principaux dossiers


  • Represented Tandym, Inc. in connection with the launch of a first-to-market private label credit card company, empowering merchants of any size to offer a branded digital credit card.
  • Represented Ocwen Financial Corporation in connection with a CFPB enforcement action concerning allegations that Ocwen violated the Real Estate Settlement Procedures Act, the servicing rules under Regulation X, and various federal consumer protection laws.
  • Represented Lendable Operations Ltd/Zendable, Inc. in connection with its launch into the US.

Haynes and Boone, L.L.P.

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.

Responsables de la pratique:

Todd Cubbage; LeAnn Chen


Autres avocats clés:

Giorgio Bovenzi; Craig Unterberg; Brian Sung; Leel Sinai


Les références

‘The team has an outstanding grip on the market and has a deep understanding of banking regulatory matters.’

‘Giorgio Bovenzi is a very smart individual, and an excellent lawyer who can swiftly grasp and resolve any issue. He is stellar in client service and has a particularly remarkable ability to see the big picture on a matter.’

‘The firm has specialized financial expertise and partners who are very switched on and attentive to clients’ needs.’

Husch Blackwell LLP

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.

Responsables de la pratique:

Marci Kawski


Autres avocats clés:

Susan Seaman; Christopher Friedman; Alex McFall


Les références

‘I have found the team both responsive and knowledgeable on certain areas of regulatory compliance.’

‘The attorneys at Husch are experts in their field and quickly respond with thorough and detailed analysis.’

‘Susan Seaman has been an incredible advocate and leader in the FinTech/Point of Sale financing area for many years now and her expertise and respect in the industry is a great tool for us to rely on.’

Principaux clients

American Financial Services Association


National Automobile Dealers Association


Consumer Credit Industry Association


US Chamber of Commerce


Guaranteed Asset Protection Association


U.S. Bank


Latham & Watkins LLP

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.

Responsables de la pratique:

Stephen Wink; Arthur Long; Yvette Valdez


Autres avocats clés:

Marlon Paz; Jenny Cieplak; Pia Naib


Les références

‘Very strong practice. Good experience with Arthur Long, a very experienced and practical advisor.’

‘Arthur Long is bright, experienced, creative and thoughtful – a great combination when working through regulatory challenges.’

Principaux clients

National Bank of Canada


Bread Financial Holdings, Inc.


AllianceBernstein


Coöperatieve Rabobank U.A.


Acorns Grow Inc.


Blockchain Association


Citigroup


DirectBooks


Houlihan Lokey


J.P. Morgan


Lincoln International


Octaura


Primary Markets


Raymond James Financial Inc.


SecondRE


Securities Industry and Financial Markets Association


SIMON Markets


StartEngine Capital


Symphony Communications


The Raine Group


Winterflood Securities


Zanbato


NextDecade Corporation


Diversified Energy Company


Origis Energy


Principaux dossiers


  • Advised AllianceBernstein on the formation of a joint venture between its Sanford C Bernstein Broker-Dealer Business and Société Générale.
  • Drafted comment letters to the SEC in relation to its proposed amendments to Rule 3b-16, which would expand the definition of “exchange” under the Exchange Act, on behalf of Directbooks, Blockchain Association and Symphony Communications.
  • Advised National Bank of Canada in connection with its sponsorship of and investment in several Canadian and US private investment fund groups.

Linklaters LLP

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.

Responsables de la pratique:

Brad Caswell; Don Waack


Autres avocats clés:

Zila Acosta-Grimes; Tanin Kazemi


Les références

‘Linklaters advises us on US regulation relevant to our asset management business, specifically US Bank Holding Company Act and Volcker Rule issues. We always receive exceptional service.’

‘Don Waack is great at demystifying complex US legislation. He gives responsive, clear and pragmatic advice and is popular with our business stakeholders for this reason.’

Principaux clients

Generali Group


Mayer Brown

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.

Responsables de la pratique:

Jeffrey Taft; Steve Kaplan; Steffen Hemmerich


Les références

‘Mayer’s advice stands out as being particularly commercial – their consumer financial services lawyers have deep knowledge of not just the law but also the market, and instead of raising issues, they focus on finding solutions.’

‘Steve Kaplan has unsurpassed industry knowledge, particularly in the secondary market – when a legal problem requires knowing what is “market” for loan investors, he’s the go-to person.’

‘I am amazed by the way their banking practice blends extensive expertise with practical, business-oriented guidance. They possess a deep understanding of market trends and avoid promoting outdated, theoretical perspectives.’

Principaux clients

HSBC


Canadian Imperial Bank of Commerce


Desjardins Group


Sumitomo Mitsui Banking Corporation


Ally Financial


Charles Schwab Corporation


Bank of Montreal


Société Générale


Goldman Sachs


Bayview


American Express Company


Square


Google


KKR


Rent-a-Center


Wells Fargo


Citibank


Finance of America


USAA


Redfin


Moore & Van Allen, PLLC

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.

Responsables de la pratique:

Edward O’Keefe; Neil Bloomfield


Autres avocats clés:

Kate Wellman


Les références

‘MVA is consistently dependable from the start of the RFP to present. They put together a team that actively engaged throughout the matter, no matter the rank and expertise. And they focused on getting the matter resolved at the root cause.’

‘Knowledge, experience and the practical nature of John’s regulatory advice.’

‘The firm has specialized knowledge regarding banking and bank regulation.’

Morrison Foerster

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.

Responsables de la pratique:

Jeremy Mandell; Jeff Silberman


Autres avocats clés:

Barbara Mendelson; Marc-Alain Galeazzi; Val Dahiya; Crystal Kaldjob; Maria Earley; Evan Minsberg; Trevor Salter; Calvin Funk


Les références

‘Morrison Foerster’s financial services and FinTech practices are the very best in the business. MoFo has a deep understanding of our business and the industry at large. MoFo is an indispensable legal advisor that has gained the unwavering trust of both our legal and senior business leadership teams.’

‘Jeremy Mandell is the very best in the business for financial services and FinTech regulatory matters. Crystal Kaldjob is our go-to lawyer for all financial services and FinTech transactional matters. Crystal is a truly savvy negotiator and effective communicator who has handled countless transactions for us.’

‘Matters are appropriately staffed, associates are exceptional and entrusted to take ownership of appropriate decisions and issues. Extremely responsive and fun to work with!’

Principaux clients

CITIC Group Corporation


Bank of the Orient


China Merchants Capital


Morgan Stanley Private Equity Asia


New Omni Bank


American Bankers Association


Ocrolus


Bankers Healthcare Group (BHG Financial)


Percapita Group


Elevate Credit


Ntropy


MPower


Prezzee


Upside Services


Principaux dossiers


  • Advised CITIC Group Corporation on general regulatory issues, including Regulation YY, Prudential Standards and Bank Holding Company Act regulatory advice in connection with its investments.
  • Advised China Merchants Capital with respect to bank regulatory advice, particularly in relation to numerous investments they have made in the past year.
  • Acted as primary counsel to the ABA on payments and lending legal and regulatory issues, consumer regulations and payment systems architecture.

Orrick, Herrington & Sutcliffe LLP

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.

Responsables de la pratique:

Clinton Rockwell; Daniel Forester


Autres avocats clés:

Jeff Naimon; Marshall Bell; Amanda Lawrence


Les références

‘What makes this practice unique is the depth and breadth of its experience in the consumer financial services regulatory and enforcement space. Collectively, they are able to cover all of the major consumer financial services industries.’

‘Marshall Bell offers unparalleled consumer regulatory compliance counseling. The things that shine through about Marshall include his seasoned nature, his excellent judgment, his responsiveness, the depth and breadth of his knowledge in this area, and his talent for rigorously analyzing complex and often nuanced issues.’

‘These folks are the experts in this space. They bring unrivaled expertise in consumer finance with a conservative approach and business mindset.’

Principaux clients

Cross River Bank


National Premium Finance Association


Capital One


Renew Financial


Ygrene Energy


PNC Bank


Carrington


Think Mutual Bank


Gate City Bank


Opportunity Financial


Self Financial


Principaux dossiers


  • Assisted Cross River Bank across a range of regulatory and bank partnership matters.
  • Represented Opportunity Financial in its ongoing dispute with the California Department of Financial Protection and Innovation, which alleges that OppFi has violated state limits on interest rates.
  • Represented the National Premium Finance Association in a federal administrative rulemaking that sought to impose broad data monitoring requirements on all lenders to small businesses.

Paul Hastings LLP

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.

Responsables de la pratique:

Allyson Baker; Jonice Gray


Autres avocats clés:

Matthew Previn; Kari Hall


Les références

‘Deep expertise and practical advice and counsel.’

‘They are knowledgeable and responsive and always provide balanced perspective.’

Principaux clients

Banc of California


Harris Originals


Hello Digit, LLC (Oportun Financial Corporation)


MoneyGram International


TMX Finance LLC


Trident Mortgage Company/Homeservices of America Inc./Fox & Roach Realtors


Voyager Digital Holdings, LLC


Schulte Roth & Zabel LLP

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.

Responsables de la pratique:

Craig Warkol; Donald Mosher; Julian Rainero; Marc Elovitz; Kelly Koscuiszka


Principaux clients

AB CarVal Investors LP


Anchorage Capital Group, L.L.C.


Bayview Asset Management, LLC


Brookfield Investment Management Inc.


Cerberus Capital Management, L.P.


Clear Street LLC


Dash Financial Technologies LLC


Engine No. 1


Fidelity/National Financial Services LLC


Industrial and Commercial Bank of China Financial


Instinet, LLC/Nomura Group


Interactive Brokers LLC


LeveL ATS


Nexo Capital Inc.


Olympus Peak Asset Management LP


Pantera Capital


Robinhood Securities, LLC


Société Générale S.A./ SG Americas Securities, LLC


Tiger Global Management, LLC


Tudor Investment Corporation


Ant Group


Brex Inc.


Circle Internet Financial, LLC


Entrata, Inc.


Fiserv


Nexo Capital Inc.


Visa Inc.


Walmart Inc.


The Western Union Company


WorldRemit Ltd. (Zepz)


Principaux dossiers


  • Advised Portfolio Advisors as special regulatory counsel in a definitive agreement to combine with FS Investments.
  • Represented Nexo Capital Inc. in the resolution of parallel investigations brought by the SEC, CFPB, and numerous state regulatory agencies related to the company’s offering of an interest-earning product.
  • Assisted Ant Group and Alipay in all phases of the money transmission licensing application process.

Simpson Thacher & Bartlett LLP

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.

Responsables de la pratique:

Lee Meyerson


Autres avocats clés:

Elizabeth Cooper; Ravi Purushotham; Amanda Allexon; Spencer Sloan; Sven Mickisch; Brian Christiansen; Matt Nemeroff; Tim Gaffney


Principaux clients

Apollo Global Management


Bayview Asset Management


Blackstone


Centerbridge Partners


Computershare


Corsair Capital


Fifth Third Bancorp


Finance of America Companies


First Eagle Alternative Capital BDC


First Hawaiian Bank


Goldman Sachs & Co.


GTCR


Hub International Limited


Integrum


JPMorgan Chase & Co.


Kohlberg Kravis Roberts & Co.


Lexington Partners


Massachusetts Mutual Life Insurance Company


Morgan Stanley


Mr. Cooper Group


Oakbridge Insurance Agency


Oak Hill Capital


Oaktree Capital Management


Riverstone Holdings


Stone Point Capital


Sixth Street


Synovus Financial


TD Bank Group


The Carlyle Group


The Charles Schwab Corporation


TreviPay


U.S. Bancorp


Yahoo


Principaux dossiers


  • Advised U.S. Bancorp in its $8bn acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group.
  • Advised Stone Point Capital LLC in its purchase of 20% of Truist Bank’s insurance brokerage business for $1.95bn.
  • Advised TD Bank Group in its $1.3bn acquisition of Cowen Inc.

Skadden, Arps, Slate, Meagher & Flom LLP

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.

Responsables de la pratique:

Jeffrey Brill


Autres avocats clés:

Collin Janus


Troutman Pepper

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.

Responsables de la pratique:

Michael Lacy; Chris Willis


Autres avocats clés:

Mark Furletti; Stefanie Jackman; Kevin Petrasic


Venable LLP

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 BresnickLeonard 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.

Responsables de la pratique:

Ellen Berge; Andrew Bigart; Jonathan Pompan; Michael Bresnick; Leonard Gordon


Autres avocats clés:

Max Bonici; Christopher Boone


Principaux clients

Applied Data Finance (Personify)


Clarion Capital Partners


Carta


Cavalry Portfolio Services, LLC


Electronic Transactions Association


Pagaya Technologies


Greater Chautauqua Federal Credit Union


Boulevard Federal Credit Union


Greater Niagara Federal Credit Union


Global Payments, Inc.


ACTIVE.com


Principaux dossiers


  • Advised Clarion Capital Partners on investment in Ready Credit Corporation.
  • Advised Carta on the offering of new tax advisory and money movement services, which requires structuring and documenting bank relationships, navigating money transmission, AML issues, and regulatory matters, and drafting customer facing agreements for launch.
  • Acted as counsel to the Electronic Transactions Association, providing advice regarding regulatory, legislative, and litigation issues in the payments industry.

White & Case LLP

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.

Responsables de la pratique:

Douglas Landy


Autres avocats clés:

Rachel Rodman


Principaux clients

Figure Technology


Rabobank


Banco Itau


J.P. Morgan


Nordea


New York Community Bancorp, Inc.


Various Crypto Restructurings


USDF Consortium


Centre


Canadian Imperial Bank of Commerce


Principaux dossiers


  • Advised Banco Itau on various US regulatory matters in connection with its acquisition of Avenue Holding, a group that includes registered US broker-dealer, licensed US money transmitter and registered investment adviser affiliates.
  • Assisted with several crypto restructuring matters, including the bankruptcy of Celsius Network, LLC, and Genesis Global and SVB’s ch. 11 filings.
  • Advised JPMorgan Chase on US and UK corporate and regulatory issues related to its strategic investment in Ownera, a digital asset platform entity.