BRENT HELPS CLIENTS WITH A WIDE RANGE OF FINANCIAL REGULATORY MATTERS.
As an associate in Dorsey’s Finance & Restructuring Group, the types of areas in which he works include: banking regulations (e.g., affiliate transaction rules), consumer financial protection laws, Bank Secrecy Act and anti-money laundering regulations, financial data privacy and protection, state financial laws (including lending license requirements and usury laws) and e-commerce (e.g., E-SIGN and virtual currency).
Brent helps clients with financial regulatory matters by providing advice regarding the application of federal and state financial regulatory laws and requirements and restrictions imposed by such laws, reviewing internal compliance policies, drafting customer agreements/disclosures and communicating with regulators. His clients include state- and nationally-chartered financial institutions, bank holding companies, foreign banking organizations, consumer and commercial lenders, loan brokers and money services businesses.
- Helped a bank holding company develop a credit card program for its subsidiary banks by providing advice on state and federal laws regarding credit cards and drafting credit card agreements, applications and related disclosures.
- Advised a national bank regarding anti-money laundering regulations applicable to foreign mission accounts, including customer due diligence requirements and AML program requirements.
- Assisted a bank holding company with questions regarding the application and requirements of the Real Estate Settlement Procedures Act and Regulation X, including analysis of these laws with respect to various proposed mortgage lending activities by bank and non-bank subsidiaries.
- Helped an OCC-regulated entity in the acquisition of several companies, including analysis of OCC regulations and guidance regarding acquisitions and equity investments and assistance in communicating with regulators, which ultimately resulted in obtaining regulatory approval for the acquisitions.
- Provided advice to a depository institution regarding several deposit placement programs, including reviewing underlying program agreements and determining compliance with federal banking laws relating to pass-through insurance and Regulation D.
- Provided advice to a foreign banking organization regarding a proposal to engage in new activities within the U.S., including analysis of activity restrictions under state law and federal banking law (e.g., Regulation K and Regulation Y), related approval and notice requirements and other regulatory consequences of engaging in the new proposed activities.
- Provided advice to a commercial lender with respect to a proposed commercial lending program, including analysis of state laws regarding usury, choice-of-law provisions and unfair/deceptive acts and practices.
- Assisted a rent-to-own company in updating its rent-to-own program, including analysis of federal laws (e.g., the Truth-in-Lending Act and Gramm-Leach-Bliley privacy rules) and state laws and drafting an updated rent-to-own agreement and accompanying disclosures.
- Helped a bank holding company in preparing updated deposit account forms to be used by its subsidiary banks, including analysis of applicable federal and state laws and drafting deposit account agreements, change-in-term notices and other related documents.
- Assisted a bank holding company regarding assertion of National Bank Act preemption with respect to activities of a national bank subsidiary, including analysis of federal preemption laws and helping prepare a legal memorandum to state regulators, resulting in state regulatory recognition of preemption.
- Provided advice to an e-commerce business with respect to the development of a virtual points program, including analysis of state laws relating to stored value and money transmission, the Electronic Transfers Transfer Act and Regulation E and anti-money laundering regulations with respect to money services business and prepaid access; and recommendations for structuring the program based on this analysis.
News & Resources
News & Press Mentions
Events & Speaking Engagements
- The CFPB Takes on Prepaid: Proposed Amendments to Regulations E and Z (Co-Presenter) (Dorsey & Whitney Bank Counsel Roundtable, February 26, 2015)
- 6 Things Every Business Lawyer Should Know about Dodd-Frank (Co-Presenter) (2014 Business Law Institute, May 5, 2014)
- Bank Vendor Oversight (Co-Presenter) (Dorsey & Whitney Bank Counsel Roundtable, September 29, 2014)
- Operation Choke Point: The Delegation of Enforcement Responsibility (and Liability) Continues (Dorsey & Whitney Bank Counsel Roundtable, April 23, 2014)
- Indirect Auto Lending: The Potential Crackdown on Dealer Markups (Dorsey & Whitney Bank Counsel Roundtable, January 21, 2014)
- Mobile Payments & Virtual Currency (Co-Presenter) (2013 Computer & Technology Law Institute, November 19, 2013)
Industries & Practices
- Bankruptcy & Financial Restructuring
- Blockchain & Digital Assets
- Consumer Financial Services
- Cybersecurity, Privacy & Social Media
- Financial Services Regulatory
- Lending Transactions
- Mortgage Banking