Regulatory & Enforcement

Our Financial Services Regulatory & Enforcement Group (FinsReg) represents banks and financial institutions with issues arising under state and federal laws. Whether it’s corporate and business consulting, strategic planning, capital formation, bank formation and state and federal securities issues, we help our clients navigate the complex laws and regulations.

Our team consists of attorneys who have held senior positions at the Federal Deposit Insurance Corporation (FDIC), the Resolution Trust Corporation (RTC), the Office of the Comptroller of the Currency (OCC), the Ohio Division of Financial Institutions and the Kentucky Department of Financial Institutions, in addition to attorneys with significant experience as in-house counsel at financial institutions. FinsReg attorneys have significant experience representing financial institutions before federal and state regulatory agencies.

Community, regional and national bank clients turn to us for advice on regulatory, compliance and lending issues, as well as corporate governance, strategic planning and periodic examination concerns. Through our collective experience we have successfully developed working relationships with the regulatory agencies offices at the local and state level, as well as Washington, D.C.

Regulation of Banks, Savings Associations, Bank and Thrift Holding Companies and Licensed Financial Services Companies

The core of our practice consists of advising in the organization, regulation and supervision of banks, thrifts, their holding companies and affiliates, as well as independent licensed financial services companies. We counsel on state and federal laws governing financial institutions and represent clients before federal and state regulatory agencies, including preparing applications for chartering and licensing new institutions, obtaining deposit insurance and forming holding companies. As part of our services, we offer counsel on particularly sensitive laws, including the Bank Secrecy Act, USA Patriot Act, OFAC and related anti-money-laundering (AML) restrictions.

Compliance and Enforcement

The recent economic crisis led to enactment of laws and regulations with which troubled financial institutions must comply. In this new environment, state and federal regulators have significantly increased enforcement activity against financial institutions, their officers and directors. Our team is well-equipped to navigate this environment, including among its members former federal prosecutors and regulatory officials who focus on enforcement actions and disputes related to banking and financial services, as well as regulatory investigations involving the Department of Justice, SIGTARP, State Attorneys General, OCC, FDIC, Federal Reserve, CFPB and other state and federal regulatory agencies. We are also experienced in representing banks and thrifts and their directors, officers and other institution-affiliated parties (IAPs) when they are the subject of regulatory criticism or enforcement actions.

Anonymous Interaction with Regulatory Agencies

Acting as liaison with state and federal agencies, we engage officials in crafting regulatory interpretations that help achieve the business objectives of our clients within the boundaries of existing law. While a client necessarily reveals its identity when it makes direct contact, we can explore business plans and related legal issues on behalf of our clients with regulators on an anonymous basis.

Federal and State Fair Lending and Fair Housing Laws

Enforcement of fair lending statutes is a priority for federal and state bank regulators, HUD and especially the CFPB. Our team is experienced in negotiating with regulatory agencies, including HUD. We have the knowledge required to respond to actions brought against our clients to enforce the Fair Housing Act, the Equal Credit Opportunity Act and related laws, including suits brought by the Department of Justice.

Our experience working with a wide range of financial institutions affords us a greater understanding of the many issues our clients face. It is imperative financial institutions have a thorough understanding of the regulatory compliance issues they face. FinsReg recognizes the need to take a proactive approach toward addressing regulatory compliance issues and limiting exposure to further scrutiny and liability. We are committed to providing the resources, knowledge and tools needed to protect against emerging threats in this constantly-changing environment.

FDIC as Receiver

Whether clients seek to bid on a failing institution or purchase assets from the FDIC following a failure, our team is experienced in navigating the complexities of acquiring troubled institutions, including dealing with the FDIC in its dual capacities of receiver and corporation. In this role, we help qualify clients with the FDIC, prepare bid packages, negotiate purchase-and-assumption and loss-sharing agreements, and monitor failed bank agreements. We also assist with bidding on loans and other assets held by the FDIC, as well as compromising loans and other claims by borrowers.