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
  • 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

Contacts

Joseph Lynyak, III
Practice Group Co-Chair
Nicholas Vlietstra
Practice Group Co-Chair

Industries & Practices

  • Banking
  • Bankruptcy & Financial Restructuring
  • Consumer Financial Services
  • Corporate Trust Services
  • Financial Services Regulatory
  • Foreign Bank Representation
  • Lending Transactions
  • Securities & Financial Services Litigation & Enforcement