We live in a dynamic time. Technology continues to accelerate the pace at which business can be done and the expectations of consumers. At the same, the regulation and oversight of banks and non-bank financial services companies seems to be in a constant state of change. Now, more than ever, anyone doing business in a financial industry – whether as an insured depository institution, non-depository lender, mortgage company or MSB, payment processor or emerging FinTech company – needs in-depth regulatory guidance to meet the intricate challenges and capture available opportunities.

Our Bank Regulatory Compliance, Operational Support and New Products team has unique and deep experience in consumer and financial regulatory compliance drawn from working in-house with a multi-billion dollar financial institution, as well as working as outside counsel with a wide variety of companies within the space – from start-up tech companies to the largest global financial institutions. This background enables us to develop a scaled approach that aligns with your business needs. We assist commercial banks, financial services companies and other businesses on a broad range of matters arising under federal and state law and regulation, including:

• The Bank Secrecy Act (BSA) and other Anti-Money Laundering (AML) Laws and Regulations;
• The Truth in Lending Act (TILA) and Regulation Z;
• The Truth in Savings Act (TISA) and Regulation DD;
• The Electronic Fund Transfers Act (EFTA) and Regulation E;
• The Real Estate Settlement Procedures Act (RESPA) and Regulation X;
• Issues related to alleged Unfair, Deceptive or Abusive Acts or Practices (UDAAP) under various federal and state authorities;
• The Fair Credit Reporting Act (FCRA) and Regulation V;
• National Automated Clearing House Association (NACHA) Operating Rules and Guidelines;
• State Unclaimed Property laws;
• Consumer Privacy;
• Electronic Contracts and Disclosures;
• Internet and Data Security; and
• Predatory Lending.

In addition to our regulatory practice as described above, we also work with financial services companies on new product development. We look at which laws apply and where the risks associated with the product lie. We advise on the internal control environment that is needed for the product to be implemented in a compliant manner as well as the follow-on launch, execution, and marketing of the product.

We take this risk-based approach to our operational support of the financial institutions we work with too and are often brought in to advise on strategic vendor relationships.

We also recognize that, much as your regulators expect a culture of compliance to pervade your organization, in the current regulatory climate, compliance advice cannot exist in a bubble. Our approach to providing regulatory compliance counsel recognizes that any compliance solution or enforcement resolution must be considered in the context of its practical impacts on your business. We work with our clients to develop workable solutions that allow their businesses to move forward and thrive – whether it be in response to an enforcement action, the launch of a new product or the day-to-day issues that surface in a bank’s branches – we always put our clients’ business goals and future success first.