Joseph Lynyak
PEOPLE

Joseph Lynyak

Partner
lynyak.joseph@dorsey.com

Overview

JOE IS A LONG-TIME ADVISER TO THE FINANCIAL SERVICES INDUSTRY, WITH A DEPTH OF EXPERIENCE THAT ALLOWS HIM TO “CONNECT THE DOTS” FOR CLIENTS IN THE COMPLEX (AND SOMETIMES CONFLICTING) REGULATORY AND STATUTORY SCHEMES CONFRONTING FINANCIAL INTERMEDIARIES.

Joe is a partner in the Firm’s Finance & Restructuring Group and a member of the Banking Industry Group. He practices in both the Firm’s Washington, D.C. and Southern California offices. Joe possesses a broad knowledge base regarding foreign banks and domestic banks, savings associations, bank holding companies, finance companies, mortgage banking companies and their subsidiaries and affiliates. His practice includes providing financial intermediaries advice in the areas of regulatory and strategic planning, application and licensing, legislative strategy, commercial and consumer lending, examination, supervision and enforcement, and general corporate matters. Joe’s FDIC-insured financial institution clients benefit from his experience in the special state and federal statutory and regulatory requirements—including safety and soundness issues—that apply to regulated financial intermediaries. He regularly counsels clients on matters such as retail operations, privacy, identity theft, consumer compliance, application and underwriting, payments systems, Internet, electronic commerce, examination, supervision and enforcement, operational and strategic planning matters. Joe is a frequent lecturer on legal topics involving the operation and regulation of financial service companies. Specific regulatory topics upon which Joe has advised clients and spoken at conferences include the Dodd-Frank Act, prudential regulation, the Volcker Rule, the Bank Secrecy Act (and other anti-money laundering provisions), mortgage lending and the CFPB.

Education & Admissions

Georgetown University Law Center (J.D., 1976)

St. Peter's University (B.A., 1973)

Admissions

  • District of Columbia
  • California

Languages

  • French and Italian

Clerkships

  • New Jersey Superior Court, Honorable James J. Petrella, 1976-1977

Experience

Representative Work

Financial Service Regulatory Advice

  • Represents clients in matters before the OCC, the Federal Reserve Board, the FDIC, the CFPB and the FTC and comparable state financial service agencies
  • Handles the organization, licensing and operation of insured institutions, as well as holding companies, subsidiaries and affiliates
  • Counsels clients on the inter-relationships among federal and state statutes and regulations, including the Dodd-Frank Act, the National Bank Act, the Home Owners’ Loan Act, the Gramm-Leach-Bliley Act, the Sarbanes-Oxley Act, the federal Bank and Savings and Loan Holding Company Acts and similar laws and regulations
  • Represents foreign banks operating in the United States, and provides regulatory and compliance advice to representative, agency and branch offices, including interfacing with the Federal Reserve Board during the examination process

Compliance and Enforcement

  • Advises clients on numerous compliance issues arising from the implementation of the Dodd-Frank Act, including Volcker Rule compliance, revised prudential regulatory requirements, living wills, as well as foreign bank compliance with newly adopted Regulation K obligations
  • Actively participates in the preparation for, and conduct of, the examination and supervision of financial institutions by the federal banking agencies, including the new examination oversight by the CFPB
  • Regularly defends financial service companies and their affiliates in enforcement actions, including administrative hearings, the negotiation of cease and desist orders, UDAAP actions and proposed imposition of civil money penalties

Consumer and Retail Financial Products and Operations

  • Advises on the Consumer Financial Protection Bureau and its Regulations B, C, E, Z, CC and DD, among others, special statutes applicable to mortgage lenders such as RESPA, the Fair Credit Reporting Act and the Fair Housing Act, as well as comparable state statutory and regulatory requirements
  • Provides guidance and has extensive experience in the complex area of fair lending
  • Drafts state-compliant lending and deposit documents, including the preparation of state consumer compliance surveys

Mortgage Lending

  • Advises financial institutions and mortgage bankers on compliance matters with respect to federal consumer mortgage protection statutes and implementing regulations, such as the Truth-in-Lending Act, the Real Estate Settlement Procedures Act, the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, the S.A.F.E. Act, the Community Reinvestment Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, as well as with the statutes and regulations of all 50 states dealing with residential mortgage lending
  • Advises and coordinates obtaining state mortgage lending licenses, including S.A.F.E. Act compliance for lenders and mortgage originators

GSE Representation

  • Experienced in legal issues presented by the mortgage GSEs, as well as several of the Federal Home Loan Banks
  • Advises on Charter Act issues and evolving Federal Housing Finance Agency examination and supervision concerns, including housing goal requirements, electronic underwriting systems and reputational legal concerns

Commercial Lending

  • Advises clients throughout the U.S. in regard to commercial licensing, structures and operational considerations
  • Represents large and small portfolio lenders, structured finance entities and factoring companies

Litigation

  • Defends financial intermediaries in a variety of administrative enforcement actions, including cease and desist, civil money penalty actions, as well as the defense of fair lending allegations
  • Defends officers and directors of failed FDIC-insured banks (and holding companies) against claims brought by the FDIC as receiver
  • Defends lending class actions for financial intermediaries in the retail financial service arena
  • Coordinates national and local defense strategies for clients

Innovative and Emerging Delivery Systems

  • Counsels clients on legal issues presented by the emerging alternative payment and product delivery systems
  • Advises clients regarding interstate lending and deposit concerns, electronic underwriting systems, interstate licensing, Internet payment alternatives and similar electronic media legal issues

Legislation

  • Analyzes proposed federal and state legislation, the negotiation of proposed solutions with consumer groups, trade associations and lobbyists, and similar activities

Representative Litigation

  • Defense representation of former officers and directors of failed FDIC banks

News & Resources

Articles

Updated Alert: Governor Brown Signs Amendments to the California Consumer Privacy Act of 2018
CalCPA Evolves – US Chamber Supports Federal Standard
The California Consumer Privacy Act of 2018—Increased Consumer Privacy Protections and Significant Business Compliance Burdens
California Leads the Nation with New Sweeping Privacy Law – The California Consumer Privacy Act of 2018
Pot Banking Crackdown is a Step Backward
Clarification From FinCEN — Updating Marijuana Limited SARs
Bank Regulatory Reform Arrives – Gingerly
Bank regulatory relief under the Trump administration
"BankThink Consumer privacy, as we once knew it, is dead," American Banker
FinCEN Guidance on Banking Marijuana—Increased Legal Risk to Banks
BankThink: Pot Banking Crackdown is a Step Backward
“U.S. Sanctions Against North Korea: Implications for Chinese Banks”
Bad News and Good News – The CFPB’s Arbitration Rule
House Leadership May Make Bank-Failure Risk More Widespread
Revisiting the Risk of Banking Marijuana Businesses
Overcoming Obstacles To Financial Reform And Deregulation
The PHH Decision—A Suggested Analysis for Covered Institutions
The Long Arm of the CFPB
"The Long Arm of the CFPB," Corporate Counsel
The New AML Regulations and Their Impact on Banks—Increased Compliance for Lending Transactions with Legal Entities
"The Constitutionality of the CFPB - An Exegesis," Westlaw Journal
BNA INSIGHTS: An Updated Lender's Primer on California's Finance Lenders Law
FASB’s Current Expected Credit Loss Proposal - Capital Recapture Considerations for Loan Documents
Revisiting the CFPB’s constitutionality: Why State National Bank is different from Morgan Drexen
The U.S. Supreme Court’s Decision in Texas Department of Housing & Community Affairs v. Inclusive Communities Project, Inc.

News & Press Mentions

Dorsey Partner Joe Lynyak Comments on Plan to Gut Payday Loans
Dorsey Partner Joe Lynyak Discusses CCPA Compliance
Dorsey Partner Joe Lynyak Comments on Hemp Bill and Banks
Dorsey Partner Joe Lynyak Discusses Impact of CashCall Ruling
Dorsey Partner Joe Lynyak Discusses Fintech Firms Operating as National Bank
Dorsey Partner Joe Lynyak Comments on How Kennedy's Exit Impacts Banks
Dorsey Partner Joe Lynyak Comments on CFPB Turning Into Commission
Dorsey Partner Joe Lynyak Remarks on Public Access to CFPB Complaints
Dorsey Partner Joe Lynyak Comments on CFPB and Payday Rule
Dorsey Partner Joe Lynyak Comments on Upcoming House Financial Services Committee Hearings
Dorsey Partner Joe Lynyak Comments on CFPB Dismissal of PHH Case
Dorsey Partner Joe Lynyak Comments on Feds Proposal to Soften Volcker Rule
"Mulvaney response to CFPB data security gaps baffles cyber experts," American Banker
Super Lawyers Recognizes Dorsey Lawyers in Washington DC
Dorsey Partner Joe Lynyak Comments on Mulvaney's Proposals to Reshape CFPB
Dorsey Partner Joe Lynyak Discusses Bank Secrecy Act
Cryptocurrency Podcast: Interview with Joe Lynyak
Dorsey Partner Joe Lynyak Remarks on Credit Unions and Cannabis Business
Dorsey Partner Joe Lynyak Discusses Payday Lending Rule
Dorsey Partner Joe Lynyak Weighs in on CFPB Changes
Dorsey Partners Weiner and Lynyak Discuss Sessions Recinding Cole Memo
Dorsey Partner Joe Lynyak Remarks on FSOC Annual Report
Dorsey Partner Joe Lynyak Remarks on CFPB Constitutional Fight
Dorsey Partner Joe Lynyak Comments on Trump Administration Controling CFPB
Dorsey Partner Joe Lynyak Remarks on Impact of Mulvaney as Acting Director

Industries & Practices

Bankruptcy & Financial Restructuring
Foreign Banks and Financial Institutions
Securities & Financial Services Litigation & Enforcement
  • Banking & Financial Institutions
  • Bankruptcy & Financial Restructuring
  • Blockchain & Digital Assets
  • China
  • Consumer Financial Services
  • Financial Services Regulatory
  • FinTech
  • Foreign Banks and Financial Institutions
  • Indian & Alaska Native
  • Investment Management
  • Lending Transactions
  • Mortgage Banking
  • Securities & Financial Services Litigation & Enforcement
  • Securitization

Professional & Civic

Professional Achievements

  • American Bar Association
      • Banking Law Committee
      • Past chair of the Banking Law Subcommittee on Commercial and Real Estate Finance
      • Past chair of the Banking Law Committee’s Retail Subcommittee
      • Past chair of the Banking Law Subcommittee on FDIC Receiverships and Conservatorships
      • Past chair of the Banking Law Committee’s Task Force on Derivatives
      • Consumer Financial Services Committee
  • Mortgage Bankers Association
  • California Mortgage Bankers Association
  • Member of the Board of Regents of the American College of Consumer Financial Services Lawyers
  • Federal Deposit Insurance Corporation – Former Member of the FDIC’s Honors Program in Banking

Accolades

  • Listed in Washington, D.C. Super Lawyers, 2016-2018
Joseph Lynyak