INDUSTRIES & PRACTICES

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Financial Services Regulatory
THE FAST-CHANGING AND INTERSECTING PATHS OF FINANCIAL SERVICES REGULATION REQUIRE A TRUSTED GUIDE – OUR CLIENTS COUNT ON US TO KEEP THEM ON THE ROAD TO BUSINESS SUCCESS.

Overview

Increasingly complex regulatory oversight of financial institutions is a major business issue for our clients. Whether it is regulation relating to establishing a U.S. bank or opening a representative office of a foreign bank, major legislative regulatory overlays such as Dodd-Frank, other evolving landscapes such as anti-money laundering or cybersecurity, Dorsey helps guide clients to avoid or address a multitude of potential pitfalls.

Areas of expertise include:

  • Anti-money laundering, Bank Secrecy Act and Patriot Act
  • Card services
  • Charter selection and consolidation
  • Classified assets management strategies
  • Commercial cash management product development
  • Compliance and risk management
  • Consumer credit
  • Consumer Financial Protection Bureau (CFPB) Regulations
  • De novo bank charters
  • Dodd-Frank Act
  • E-Banking and mobile banking
  • Escheat/Unclaimed Property 
  • Examination and enforcement
  • Executive compensation/incentive compensation
  • Fair Credit Reporting Act (FCRA)
  • Federal Bank Holding Company Act
  • Federal banking agency regulations
  • Gramm-Leach-Bliley Act
  • Internal investigations
  • Lender Licensing
  • Mergers and acquisitions
  • OFAC
  • Payment systems
  • Privacy and data security
  • SEC, state securities regulations, FINRA
  • Transactions with affiliates
  • UDAAP/UDAP Matters

Experience

Representative Matters 

  • Representation of a national bank in receipt of CID by the CFPB
  • Provide formal and informal comment on agency rulemaking 
  • Assisting a non-banking consumer lender in structuring compliance management system pursuant to CFPB order
  • Negotiation with the OCC regarding a proposed civil money penalty for alleged UDAP violations
  • Fair Lending compliance audit maintaining attorney/client privilege
  • Drafted living wills and revisions for foreign banks and U.S. bank subsidiaries
  • Assisting foreign banks to prepare for examination by the OCC and the FRB
  • Representation of a foreign bank in threatened Bank Secrecy Act enforcement action
  • Advice for structuring prudential regulations for U.S. operations
  • Structuring compliance program for Volcker Rule

Accolades

US News Best Lawyers 2022 Top Banking and Finance Law Firm

US News Best Lawyers 2022 Leading Public Finance Law Firm

Recognized in Banking & Finance China Business Law Awards 2017-2018

US News Best Lawyers 2022 Leading Bankruptcy Law Firm

US News Best Lawyers 2022 Leading Securities Regulation Law Firm

Leading Firm-Over 28 Dorsey Practices Chambers 2021

US News Best Lawyers 2021 Tier 1 Securities-Capital Markets Practice

69 Dorsey Leading Lawyers-Chambers 2021

Best Law Firms-25 Nationally Ranked Dorsey Practices 2021

129 Dorsey Lawyers-50+ Practices Best Lawyers 2022

Contacts

Nicholas Vlietstra
Practice Group Co-Chair

Industries & Practices

  • Banking & Financial Institutions
  • Bankruptcy & Financial Restructuring
  • Consumer Financial Services
  • Corporate Trust Services
  • Financial Services Regulatory
  • Foreign Banks and Financial Institutions
  • Lending Transactions
  • Securities & Financial Services Litigation & Enforcement