Banking and Financial Services
Our bank regulatory, compliance and enforcement practice is an integral part of the corporate and transactional services that we offer to our financial institutions clients. Nearly all capital raising and merger transactions have a regulatory component or require regulatory approval. Our regulatory and compliance practice group works closely with our clients to resolve regulatory issues associated with business transactions, as well as routine regulatory questions that arise on a day-to-day basis. A significant part of our regulatory practice involves counseling boards and management on regulatory enforcement matters, including negotiating informal and formal agreements (cease and desist orders and supervisory agreements). We also provide management with interpretive guidance regarding federal and state banking laws and regulations, including transactions with affiliates, corporate powers, capital distributions, and conflicts of interest. We also counsel both banks and private investors on the intricacies of bank holding company and change in bank control regulations, including filing change in control or holding company applications, as well as rebuttal notices. Finally, we represent both banks and credit unions in their charter conversions. Charter conversions by credit unions to the savings bank charter present unique challenges in obtaining both member and regulatory approvals. A key part of our service involves guiding boards and management through the conversion process, counseling boards regarding their fiduciary obligations and implementing effective strategies for obtaining the necessary membership approval.