Firms To Watch: Financial services regulation

Troutman Pepper‘s extensive clientele features banks, payment processors, credit card issues and fintech companies, with the team advising on investigations, M&A, compliance and anti-money laundering matters.
Moore & Van Allen, PLLC features a strong bench in Charlotte, advising on the Dodd Frank Act, cryptocurrency, fintech and anti-money laundering matters, with Edward O’Keefe and Neil Bloomfield heading the group.

Financial services regulation in United States

Arnold & Porter

Arnold & Porter‘s capabilities in the field of financial services regulation extends to both banking and consumer finance issues, with the department handling work surrounding the Bank Secrecy Act and AML rules, ESG guidance, fintech programs and fair lending matters, having had recently expanded its offering by forming a multidisciplinary cryptocurrency group. David Freeman leads the practice and is a key contact for financial institutions, investment managers, and broker-dealers seeking counsel on securities regulatory, M&A and product development matters. Michael Mancusi represents a portfolio of leading banks and credit unions in state and federal regulatory, as well as enforcement work, while senior counsel and enforcement expert Christopher Allen is regularly engaged to advise on AML compliance, fair-lending investigations and consumer protection. All named lawyers are based in Washington DC.

Practice head(s):

David Freeman

Other key lawyers:

Michael Mancusi; Christopher Allen

Key clients


Bessemer Trust

The Charles Schwab Corporation

The Depository Trust & Clearing Company

Federated Hermes

First Republic Bank

F.N.B. Corporation

First National Bank of Pennsylvania

Sterling Bank & Trust

Stifel Trust Company

Stifel Financial Corp.

Stifel Bank

Work highlights

  • Advised First Citizens BancShares on its all-stock merger of equals with CIT Group.
  • Advised Sterling Bank and Trust in various bank regulatory matters, including by providing counsel on supervisory inquiries and examinations.
  • Advised F.N.B. Corporation, as regulatory counsel, in its merger with Baltimore, Maryland-based Howard Bancorp.

Ballard Spahr LLP

The consumer financial services group at Ballard Spahr LLP offers comprehensive advice covering complex CFPB and agency regulatory, enforcement and litigation matters. The team is also recognized for its knowledge of cybersecurity and artificial intelligence, allowing it to attract a variety of payment system providers, fintech firms and private equity firms as clients. Daniel McKenna and John Socknat steers these efforts, working out of the Philadelphia and Washington DC offices, respectively; in Pennsylvania, John Culhane is noted for his student lending law knowledge. Former CFPB official Michael Gordon joined the firm in March 2022, with Mark Furlettti leaving in February 2022.

Practice head(s):

Daniel McKenna; John Socknat

Other key lawyers:

John Culhane; Michael Gordon; Lisa Lanham


‘The Ballard Spahr team provides some of the most informative, practical, and relevant advice and guidance in the industry. Their client education on important industry topics is always timely, on-point, and practical. They do not simply repeat the issue, they sincerely put forth effort to educate their clients as to options and suggestions to address the issue.’

‘Michael Gordon brings a perspective on regulatory matters that others may not have, in light of his past experience within a federal regulatory office.’

‘Lisa Lanham’s knowledge in relation to financial services licensing requirements and regulation, coupled with the relationships she has built within regulatory agencies has been very beneficial in moving license projects and issues forward efficiently and effectively.’

Key clients

Discover Financial Services

Goldman Sachs

Accenture Credit Services

Lending Club

Social Financial

Bread Financial

Toyota Financial Services

American Bankers Association

Consumer Bankers Association

Snap Finance

Pennsylvania Higher Education Assistance Agency

Community Loans of America

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP considers banks, foreign banking organizations, fintech companies, mortgage lenders and auto lenders as key clients, advising these in a variety of banking and consumer finance regulatory work, including in relation to the Volcker Rule, capital adequacy, derivatives and initial margin requirements. New York-based James Frazier and Ivan Loncar share leadership of the banking-focused offering, acting as main points of contact for the likes of Bank of America, Citigroup and Credit Suisse, while Rachel Rodman and Mercedes Turnstall, the latter of whom joined in April 2022 from Loeb & Loeb LLP, spearhead financial regulation matters from a consumer perspective, playing an active role in investigations, enforcement and litigation in the space.  In April 2022, Peter Malyshev joined from Reed Smith LLP, with senior counsel Scott Cammarn having retired the same month. Daniel Meade left the firm in January 2024.

Practice head(s):

James Frazier; Ivan Loncar

Other key lawyers:

Rachel Rodman; Mercedes Turnstall; Peter Malyshev

Key clients


Ally Financial

Alternative Reference Rates Committee

Annaly Capital Management

Bank of America

Bank of Ireland

Bank of Montreal

Bank of Nova Scotia


BNP Paribas

Canadian Imperial Bank of Commerce

Castle Creek Capital

CITIC Securities



Common Bond

Community Bank System


Credit Agricole

Credit Suisse

Deutsche Bank


Federal Home Loan Mortgage Corp

First Key

Goldman Sachs



Industrial and Commercial Bank of China


JPMorgan Chase




Morgan Stanley


National Bank of Canada



Park Avenue Finance

Royal Bank of Canada


Seacoast National Bank

Shanda Asset Management

Shell Oil Company

SkyKnight Capital

Social Finance

Société Générale

Standard Chartered Bank

State Street Bank

TD Bank

The Bank of New York Mellon



United Overseas Bank

Wells Fargo


Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton continues to offer standout knowledge of restructurings, asset management, derivatives, and M&A as well as matters applicable to emerging trends in the fintech, digital assets and cybersecurity spaces, with a client roster featuring major US and foreign financial institutions and trade associations. Recent highlights include the team’s representation of Custodia Bank in connection with its application to access the Federal Reserve’s payment system and its role as primary counsel to the Institute of International Bankers, with the team advising on various issues arising out of the entity’s day-to-day activity. Active in both matters, Derek Bush spearheads the group’s efforts from Washington DC and New York, leading Hugh Conroy and counsel Patrick Fuller in New York, recognized for their broad range of expertise, encompassing banking regulations, transactional and enforcement matters.

Practice head(s):

Derek Bush

Other key lawyers:

Hugh Conroy; Patrick Fuller; Deborah North

Key clients

Custodia Bank


BNP Paribas


Credit Suisse

Deutsche Bank

Goldman Sachs

Standard Chartered

Institute of International Bankers

American Express

Banco Estado




Mizuho Financial Group

Bank of America

Toronto Dominion Bank


Sumitomo Mitsui Banking Corporation

Societe Generale

Work highlights

  • Advised Custodia Bank in connection with its application for access to the Federal Reserve’s payment system, and for membership in the Federal Reserve System.
  • Representing the IIB in legal and regulatory issues and developments, including cross-border taxation, prudential regulation by the Federal Reserve of internationally headquartered banks and a variety of regulations.
  • Advising TD Bank on a range of issues related to resolution planning and regulatory capital requirements, including new requirements that arise as a result of TD Bank becoming a Global Systemically Important Bank.

Cooley LLP

Cooley LLP provides a comprehensive offering to fintech companies, banks, auto lenders, and payment platforms seeking advice on regulatory compliance, innovative products, and fair lending, exhibiting a ‘diverse range of legal and regulatory knowledge and experience‘. The three-partner leadership team in Washington DC consists of Obrea Poindexter, a name to note amongst fintech, technology and marketplace companies, litigation and enforcement specialist Michelle Rogers and Sean Ruff, a financial products expert. Rogers joined from Buckley LLP in early 2022, bringing Joshua Kotin and Katherine Katz alongside her. Special counsel Adam Fleisher is another standout, engaged on a regular basis by start-ups and payment services companies to advise on money transmission regulations.

Practice head(s):

Obrea Poindexter; Michelle Rogers; Sean Ruff

Other key lawyers:

Joshua Kotin; Katherine Katz; Adam Fleisher


‘The team at Cooley is always responsive, prompt, and flexible, while demonstrating a diverse range of legal and regulatory knowledge and experience. I have experienced the same level of professionalism and collaboration across all levels at the firm.’

‘The practical knowledge the attorneys at Cooley have is top tier. From the first interaction with Michelle Rogers and her team, we knew we were in good hands. Michelle and team were not just familiar with the law, but had insight into the regulatory tone in Washington DC, and were able to quickly understand operational challenges as well as compliance arguments. Michelle and her team helped us to put our best foot forward at a time when there was no other option and did so in a prompt and timely manner!’

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s bank regulatory offering is led by David Portilla, and handles matters encompassing matters relating to banking, cryptoasset, digital currency and M&A transactions. The firm’s reach was further enhanced by the opening of a new office in Washington DC led by Jelena McWilliams, who joined in July 2022 from her previous role as the chairman of the Federal Deposit Insurance Corporation. In August 2022, Elad Roisman  joined the firm from the SEC, bringing with him extensive knowledge of reporting and disclosure obligations and corporate governance.

Practice head(s):

David Portilla

Other key lawyers:

Jelena McWilliams; Elad Roisman


Government experience & ability to understand and adapt to the client’s specific needs. Also availability to deal with any type of problem with thoughtful advice.

Key clients



Credit Suisse



Financial Services Forum


Morgan Stanley

Securities Industry and Financial Markets Association

Silicon Valley Bank

Texas Capital Bancshares


Work highlights

  • Advising to Cowen in connection with its pending $1.9bn acquisition by TD Bank.
  • Advising Texas Capital Bank in connection with the $3.4bn sale of BankDirect Capital Finance to Truist.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP is a popular choice among major banks, financial institutions, fintech and technology companies for regulatory matters, supervisory actions, bank partnership agreements, anti-money laundering, and broader compliance issues arising out of M&A and securities offerings. Areas of growth for the practice include cryptocurrency and stable coin regulation, with the team’s efforts led by Randall Guynn and Margaret Tahyar, key names in the field for a range of strategic M&A and capital markets transactions, contentious hearings, business reorganizations and regulatory approvals. Also notedis Luigi De Ghenghi, active on enforcement as well as capital and liquidity requirements mandates, with Gabriel Rosenberg, another standout, handling matters related to the fintech, derivatives and securities spheres. The group’s recent advice to Citigroup in relation to consent orders from the OCC and the Federal Reserve was a key highlight for 2022.

Practice head(s):

Randall Guynn; Margaret Tahyar

Other key lawyers:

Luigi De Ghenghi; Gabriel Rosenberg

Key clients


Davis Wright Tremaine LLP

Davis Wright Tremaine LLP’s financial services team, which is spread across the firm’s Washington DC and New York offices, handles matters surrounding both banking and consumer finance regulation; key areas of expertise include credit card cobrand, private label, network and mobile payments deals as well as payment processing, open-ended credit products, loans and financial management. In Washington DC, Kevin Petrasic and Brian Hurh lead the practice, with knowledge of core banking regulatory issues and federal payments and financial privacy laws, respectively. Also in DC, associate Matthew Bornfreund is another notable team member, facilitating relationships between technology companies and financial services providers.

Practice head(s):

Kevin Petrasic; Brian Hurh

Other key lawyers:

Matthew Bornfreund; James Mann


‘Kevin Petrasic is extremely knowledgeable about banking and bank regulations. In our conversations, he clearly displayed the ability to understand all sides and work to find equitable resolutions that both sides could accept. He has a mild manor and is easy to work with.’

‘James Mann and Kevin Petrasic are bright, creative and experienced, I would not hesitate to recommend them to others.’

Key clients



UTP Plans

Debevoise & Plimpton LLP

Debevoise & Plimpton LLP offers a highly specialized team dedicated to a full gamut of regulatory, litigation and transactional factors affecting banking institutions, foreign banks, and affiliated broker-dealers. Apart from its traditional clientele, the firm is also retained by non-bank institutions looking to enter the space or offer banking products, which includes insurers and private equity firms. Led by Satish Kini in Washington DC, a name to note for leading industry trade associations facing regulatory reform issues and Gregory Lyons in New York, with experience representing private equity firms in their investments, the team is capable with regard to Volcker Rule matters, US bank formation as well as foreign bank and M&A-related regulation. Corporate expert Jeffrey Robins is another standout in New York, acting for broker-dealers, swap dealers and securities exchanges in a range of matters, accompanied by recently promoted Caroline Swett, a key contact for domestic and foreign banks seeking regulatory, enforcement and transactional advice.

Practice head(s):

Satish Kini; Gregory Lyons

Other key lawyers:

Jeffrey Robins; Caroline Swett; Robert Dura


‘They have a strong AML, anticorruption and sanctions practice. The team is quite diverse as well. They have former regulators on staff to provide advice.’

‘Satish Kini, Aseel Rabie, Robert Dura are all excellent subject matter experts.’

Key clients

American International Group

Citizens Bank

Fifth Third Bancorp

Financial Services Forum

Israel Discount Bank of New York

Oaktree Capital Management

Work highlights

  • Advised American International Group in the $2.2bn all-cash sale of a 9.9% equity stake in its Life & Retirement business to Blackstone.
  • Represented Citizens Financial Group in the acquisition of $9bn of deposits, loans and the East Coast Branch network of HSBC Bank USA.
  • Advising Fifth Third Bank in a strategic partnership with, and a minority investment in, Bellwether Enterprises, a fintech commercial mortgage and multi-family provider.


Dentons‘ consumer finance regulatory group, which sits within the wider capital markets department at the firm, places a strong focus on the residential mortgage and consumer finance markets, with settlement service providers, credit reporting agencies, credit unions, private equity funds and national banks making up a significant proportion of the team’s client base. Leadership of the team is divided between Matthew Yoon in New York and John Holahan in Washington DC. Another key name in the team is New York-based Joshua Jordon, whose practice focuses on federal, state and local consumer credit laws affecting a range of institutions.

Practice head(s):

Matthew Yoon; John Holahan

Other key lawyers:

Joshua Jordon

Key clients




Work highlights

  • Advised Barclays’s mortgage trading and underwriting desks on Wall Street in connection with the management of financing lines and residential mortgage assets.
  • Advised Citi’s mortgage financing, trading and securitization desks on regulatory issues.
  • Advising Nomura’s whole loan trading, financing and securitization businesses in the United States on regulatory issues.

Eversheds Sutherland

Eversheds Sutherland showcases significant strength in the representation of broker-dealers, providing comprehensive advice on the impact of the SEC’s Regulation Best Interest and fiduciary duty regulations. Apart from its broker-dealer expertise, it often acts on behalf of coalitions with an aim to comply with regulatory requirements and shape existing rules; ESG regulation represents an area of growth for the group. Active in the firm’s Washington DC office are Stephen Roth, Steven Boehm, Cynthia Krus and Brian Rubin, who lead the team alongside Clifford Kirsch, a New York-based practitioner and key point of contact for the Financial Services Institute. Also noted in Washington DC, Holly Smith draws from her previous role at the agency to advise on issues relating to SEC regulation.

Practice head(s):

Stephen Roth; Steven Boehm; Cynthia Krus; Brian Rubin; Clifford Kirsch,

Other key lawyers:

Holly Smith

Key clients

The Financial Services Institute



Allianz Life Insurance Company of North America

Allstate Life Insurance Company

Altmore BDC

American General Life Insurance Company

Arch Capital Group

Associated Electric & Gas Insurance Services

Athene Annuity & Life Co.

Axxes Private Markets Fund

BlackRock Private Credit Fund

Brighthouse Life Insurance Company

Capital One

Capital Southwest Corporation

Churchill Asset Management

CIM Real Assets & Credit Fund

Columbian Mutual Life Insurance

Committee of Annuity Insurers

Empower Retirement

Equitable Life Insurance Company

Fairfax Financial

Fidus Investment Corporation

Flat Rock Core Income Fund

Flat Rock Core Plus Fund

Flat Rock Opportunity Fund

Forethought Life Insurance Company

Further Global


Goldman Sachs BDC

Goldman Sachs Middle Market Lending Corp.

Golub Capital BDC

Great Elm Capital Corp.

Great-West Life & Annuity Insurance

Guardian Insurance and Annuity Company

GuideStone Funds

Horace Mann Educators

Lafayette Square Holding Co.

Legal & General

M Fund

Main Street Capital Corp.


Midland National Life Insurance Company

Monroe Capital Corporation

MSC Income Fund

MSD Investment Corp.

MunichRe and Munich America Reassurance Corporation

Mutual of America Life Insurance

National Western Life Insurance

Nationwide Life Insurance Company

New Mountain Finance Corporation

New Mountain Finance SLF I

New Mountain Guardian III BDC

New Mountain Guardian IV BDC

New York Life Insurance Company

Newtek Business Services Corporation

Nuveen Churchill Direct Lending Corp.

Nuveen Churchill Private Capital Income Fund

Nuveen Churchill SLF

OFS Capital Management

Owl Rock Capital Corporation

Owl Rock Capital Corporation II

Owl Rock Capital Corporation III

Owl Rock Core Income Corp.

Owl Rock Technology Finance Corp.

Owl Rock Technology Finance Corp. II

Pacific Life

Pan American Life

Pension Insurance Corporation

Phoenix Life

Priority Income Fund

Prospect Capital Corporation

Prospect Capital Management.

Prospect Sustainable Income Fund

Protective Life Insurance Company

Rand Capital Corporation

Resolution Life

Riversource Life Insurance Company

Royal & Sun Alliance

Runway Growth Capital

Runway Growth Finance Corp

Saratoga Investment Corporation

Security Benefit Life

Silver Spike Capital

Stellus Capital Investment Corporation

Sutter Rock Capital Corp.

Symetra Life Insurance Company

Talcott Resolution

The Financial Services Institute

Transamerica Life Insurance Company

Trinity Capital

Universal Life Insurance Company



Varagon Capital Corp.

Venerable Annuity

Voya Financial

Western & Southern Life

Wilton Re

Zell Capital

Zurich Insurance Group

Work highlights

  • Acting as securities counsel for a coalition that includes circa 70 broker-dealers, which is affiliated with the members of the Committee of Annuity Insurers.
  • Acting as on-going counsel for multiple broker-dealers on the impact of the SEC’s Regulation Best Interest and Form CRS as well as proposed fiduciary duty regulations.
  • Acting as policy counsel to the FSI on a number of significant initiatives throughout the year, including the SEC’s Regulation Best Interest.

Greenberg Traurig LLP

Greenberg Traurig LLP‘s regulatory practice places a strong focus on consumer finance products and services, with mortgage, credit card, marketplace lending, digital banking, cryptocurrency and payment systems matters taking up a large proportion of the group’s time. Richard Cutshall leads the practice from Denver, accompanied by New York-based William Mack. The practice’s reach also extends to Washington DC, where Benjamin Saul stands out for his knowledge of the fintech credit and payments space, and Andrew Wein, who works out of the firm’s West Palm Beach office, is recognized as a mortgage specialist.

Practice head(s):

Richard Cutshall; William Mack

Other key lawyers:

Benjamin Saul; Andrew Wein; Marina Olman-Pal


‘I have had the pleasure of working with Marina Olman-Pal. She is very responsive and provides practical advice. She quickly understands complex set ups and is able to provide not only legal, but strategic guidance as well.’

Key clients

Paysafe Group

Five Flags Banks


Concord Acquisition Corp

Leap Finance

Lendable Operations


Quo Finance




Work highlights

  • Represented Paysafe in connection with its acquisition of SafetyPay, a payments platform.
  • Represented GoDaddy in connection with the acquisition and integration of Poynt Financial, an all-in-one payment platform.
  • Represented Five Flags Banks in the merger of two of its subsidiary banks, The Warrington Bank and Bank of the South.

Haynes and Boone, L.L.P.

The financial services regulation practice at Haynes and Boone, L.L.P. offers ‘broad expertise‘ in global credit risk management, margin regulation and derivates and commodities work. Charlotte-based Todd Cubbage shares leadership of the team with Monika Sanford, who works out of the firm’s Austin office; in New York, credit risk management expert and ‘highly effective and knowledgeable’ Giorgio Bovenzi is another standout, working alongside managing partner and executive committee member Craig Unterberg, whose practice revolves around margin regulatory work and structured equity.

Practice head(s):

Todd Cubbage; Monika Sanford

Other key lawyers:

Giorgio Bovenzi; Craig Unterberg; Eitan Stavsky


‘Haynes and Boone is a very reputable law firm for financing, regulatory compliance funds and corporate finance matters. The team has an outstanding grip on the market and has a deep knowledge of banking regulatory matters. They distinguish themselves from their competitors by virtue of their client-oriented approach, in addition to being extremely technically strong and always on top of the latest regulatory developments in the market. Their constructive and commercial approach to transactions is impressive and extremely appreciable for business partners and clients, making them real dealmakers.’

‘Giorgio Bovenzi is an absolute star, with truly outstanding regulatory and industry knowledge. He is a very smart individual, and an excellent lawyer who can swiftly grasp and resolve any issue. He is stellar in client-service and has a particularly remarkable ability to see the big picture on a matter, whatever its size and complexity.’

‘This is a very strong team that encompasses a wide range of capabilities in particular in the cross-section of financial regulatory work, financial transactions and insolvency. In particular it is a team that is very adept at understanding cross-border nuances, making in-depth legal analysis and coming to actionable conclusions.’

‘The practice is unique because of the team’s ability to move quickly and their broad expertise and ability to get things done well. They provide a service that is as good as bigger names but with more attentiveness.’

‘Giorgio Bovenzi deserves particular mention for his constant and arduous attention to detail and to a longstanding relationship with key clients. Bovenzi is also an important presence in the International Bar Association and comes very highly regarded.’

‘Giorgio Bovenzi’s experience working on multi-jurisdictional advisory projects gives him an in-depth understanding of cross-border regulatory, risk and insolvency issues in all major trading jurisdictions. Giorgio can quickly identify the most significant risks for his clients in a given jurisdiction and recommend practical solutions based on his experience.’

‘Giorgio Bovenzi – highly effective and knowledgeable in both common law concepts and continental European law concepts. He also has developed a very broad and reliable international network of local counsel to provide opinions and guidance on local law in particular markets.’

‘Very commercial in their advice. They also do a great job keeping current on pending regulatory changes and have proven helpful with market introductions. Lastly, their service is exceptional — they provide solid advice under great pressure and immense time constraints.’

Latham & Watkins LLP

Latham & Watkins LLP stands out for its comprehensive advice to major financial institutions, global banks, investment firms, broker-dealers, trade associations and large fund complexes. Within this field of expertise, the team is regularly retained for derivates regulation, restructurings, financings, fintech matters and compliance with FINRA, NFA and SEC rulemaking, with further emphasis on broker-dealer IPO and other registered securities transactions. The three-partner leadership team in New York is made up of Stephen Wink, Alan Avery and Yvette Valdez, focused on securities regulatory, federal and state banking laws, and digital assets, respectively. As co-chair of the firm’s global digital assets and Web3 practice, Valdez is a key contact for derivatives work as well as cryptocurrency matters. Counsel Pia Naib is another standout for work relating to crypto assets, showcasing further expertise in anti-money laundering and issues relating to the US Bank Holding Company Act. Arthur Long joined the team in September 2022, previously at Gibson, Dunn & Crutcher LLP.

Practice head(s):

Stephen Wink; Alan Avery; Yvette Valdez

Other key lawyers:

Pia Naib; Marlon Paz; Arthur Long

Key clients

Coöperatieve Rabobank


National Bank of Canada


StartEngine Capital

Securities Industry and Financial Markets Association

Primary Markets

SIMON Markets

Houlihan Lokey

Raymond James Financial

Lincoln International

Acorns Grow


Blockchain Association

Rush Harding III

Carlyle Group


J. Wood Capital Advisors

JP Morgan Chase

Bank of America

Goldman Sachs

BNP Paribas

MSD Capital

Samuel Reed

Sculptor Capital Management

Diversified Energy Company

Orion Energy Partners

Symphony Communication Services

Andreessen Horowitz

Oaktree Capital

Searchlight Capital Partners


Work highlights

  • Advised SIFMA on proposed SEC rule making regarding special purpose acquisition companies (SPACs) and de-SPAC transactions.
  • Advising SIMON Group in its acquisition by iCapital, including on relevant broker-dealer and financial regulatory matters.
  • Advised Rabobank in connection with its New York branch’s $30bn Medium Term Note (“MTN”) Programme.

Mayer Brown

Mayer Brown’s financial services regulatory and enforcement group divides its attention between banking and consumer finance regulatory work, representing financial banks, broker-dealers, residential mortgage lenders, payment system operators and non-mortgage consumer credit lenders on complex matters in the space. Jeffrey Taft and Steven Kaplan share leadership of the practice in Washington DC, with the former regularly acting as counsel for bank receivership, insolvency issues, payment systems and cybersecurity. Supporting these efforts are Steffen Hemmerich, a key contact for broker-dealers, financial services firms and fintech companies, and ‘determinedMatthew Bisanz, active on all relevant operations of insured depository institutions.

Practice head(s):

Jeffrey Taft; Steve Kaplan

Other key lawyers:

Steffen Hemmerich; Matthew Bisanz


‘Impressed with Matthew Bisanz. He’s a hardworking go-getter and dedicated networker.’

‘Matthew Bisanz is willing to look into any aspect of federal or state bank regulation, no matter how esoteric. He’s determined.’

The mortgage regulatory practice has deep and broad knowledge of the sector, industry practices and the rules and regulations.

Steve Kaplan and Larry Platt are excellent advisors who are able to provide cogent legal guidance across all aspects of the mortgage asset class.

Key clients


Canadian Imperial Bank of Commerce

Desjardins Group

Sumitomo Mitsui Banking Corporation

Ally Financial

Charles Schwab Corporation

Bank of Montreal

Société Générale

Goldman Sachs


American Express Company





Wells Fargo


Finance of America



Morrison Foerster

Handling both banking and consumer lending issues, Morrison Foerster offers considerable expertise in the financial services and fintech spaces. Within the context of banking regulation, the group excels in a range of compliance issues, covering enforcement matters, affiliate transactions, fund structuring and lending; regulatory advice surrounding lending products, payments processing, and strategic partnerships constitutes a large proportion of the team’s work in relation to consumer finance. Washinton DC-based Jeremy Mandell, who also acts as co-head of the firm’s fintech practice, focuses on payment and consumer credit products relating to emerging technologies, steering the financial services group alongside New York-based Barbara Mendelson, who is often sought by foreign and domestic banks in Volcker Rule, BSA/AML, OFAC and investigation matters. Marc-Alain Galeazzi accompanies the latter in New York, regularly advising clients on corporate governance, compliance and economic sanction issues, with fintech expert Crystal Kaldjob noted in DC. A key development was the arrival of Deborah Connor to the DC office in September 2022, who draws from her previous role as chief of the money laundering and asset recovery section at the US Department of Justice.

Practice head(s):

Jeremy Mandell; Barbara Mendelson

Other key lawyers:

Marc-Alain Galeazzi; Jason Shafer; Deborah Connor; Crystal Kaldjob; Maria Earley; Jeff Silberman; Evan Minsberg


‘Evan Minsberg has great depth and knowledge about the payment and fintech space. He is able to help the client navigate legal uncertainty.’

‘The team at Morrison Foerster works like an extension of the client’s team. They think critically about legal, regulatory, and business challenges and priorities, and work quickly and creatively to solve problems. They exhibit strength across multiple areas: technology, regulation, and business. It is clear the team truly cares about the success of the business and people, and they are willing to put in the time and effort to help it succeed.’

‘Jeff Silberman deserves specific praise. He thinks critically about the business, vision, challenges, and plans, and he works collaboratively to push forward. This level of care is extraordinary and hard to find. Combined with his level of knowledge in the industry, he has been an invaluable asset and team member.’

‘This firm is unique in their handling of start-up clients. Not only do the partners, such as Maria Earley, demonstrate a strong understanding of the limitations of a start-up company.’

‘Maria Earley is far and away one of the best lawyers. Her advice is grounded in the realities and practicalities of managing a start-up business. She helps understand the risks and offers solutions that are reasonable and that do not entail massive capital or time investments that the client may not have or may not want to incur.’

‘They are very practical and professional. They quickly understand products and can advise at a 10,000-foot basis, and then narrow it down.’

‘Jeremy Mandell and his team have a deep knowledge of payments system regulation and are critical in helping clients with complex regulatory questions.’

Key clients

CITIC Group Corporation

Bank of the Orient

China Merchants Capital

Morgan Stanley Private Equity Asia

New Omni Bank

American Bankers Association

Qoosh Technologies


Bankers Healthcare Group

Percapita Group

Reich & Tang

Work highlights

  • Advised CITIC Group Corporation in connection with the Bank Holding Company Act and its investment into China Huarong Asset Management, pursuant to a $6.6 billion government-orchestrated bailout of China Huarong.
  • Represented Morgan Stanley’s private equity investment arm in the formation and ongoing operations of a PRC-domiciled, RMB-denominated private investment fund focused on investments in China.
  • Advised New Omni Bank on a capital investment by the US Department of the Treasury under the Treasury’s Emergency Capital Investment Program (ECIP), including regulatory aspects of the investment.

Orrick, Herrington & Sutcliffe LLP

Following its merger with Buckley LLP, the team at Orrick, Herrington & Sutcliffe LLP‘s focus lies in the regulation of consumer financial services, covering a wide range of issues encompassing mortgages, credit cards, auto lending, short-term credit, payments and digital currency. The team, led by Los Angeles-based Clinton Rockwell and Christopher Witeck, handles fair lending matters involving enforcement agencies at a federal and state level and discriminatory allegations brought by municipalities as additional key areas of expertise. Rockwell, a co-managing partner at the firm, is highly sought for his experience advising mortgage companies, fintech lenders and secondary market loan purchasers, with founding partner Joseph Kolar also noted for his knowledge of mortgage and consumer loan contracts. Additional standout members include John Kromer and Jeffrey Naimon noted as key contacts for a variety of matters. Former managing partner Benjames Klubes departed the firm in May 2022 to become principal deputy general counsel at the US Department of Housing and Urban Development. All named lawyers are based in Washington DC unless otherwise stated.

Practice head(s):

Clinton Rockwell; Christopher Witeck

Other key lawyers:

Joseph Kolar; John Kromer, Jeffrey Naimon


‘The Buckley team are experts in mortgage regulatory issues, with deep experience handling complex issues and representing lenders and servicers in supervisory and enforcement actions and litigation.’

‘Their decades of experience handling complex mortgage regulatory issues and representing lenders and servicers makes them unique and why our company relies on them as a critical business partner.’

Key clients

Cross River Bank

Work highlights

  • Advised Cross River Bank in a variety of partnerships with highest-profile fintech firms offering online loans and payments.

Paul Hastings LLP

The investigations, regulation and litigation group at Paul Hastings LLP is particularly adept at handling compliance issues surrounding financial products, with further expertise in the mortgage, credit card, payments and student lending spaces. Additional areas of strength for the team includes advising fintech companies on consumer products, one of multiple capabilities catalyzed by the arrival of Laurel Loomis from O'Melveny & Myers LLP, Allyson Baker and Meredith Boylan from Venable LLP and Jonice Gray from Buckley LLP throughout 2022. Kwame Manley leads the team, which includes Aaron Mahler, a key contact for relationships with the CFPB and San Francisco-based Molly Swartz, primarily sought by fintech companies, internet marketplaces and consumer lenders. All named lawyers are based in Washington DC unless otherwise stated.

Practice head(s):

Kwame Manley

Other key lawyers:

Laurel Loomis; Allyson Baker; Meredith Boylan; Jonice Gray; Aaron Mahler; Molly Swartz


Very sharp, and responsive.

Brilliant banking lawyers.

Key clients

Trident Mortgage Company

HomeServices of America

Transworld Systems




Ropes & Gray LLP

Ropes & Gray LLP’s diversified asset management practice is noted for its advising of sponsors of registered funds as well as private funds, with particular focus on the US Investment Advisers Act, the AIFMD and commodities and derivatives regulation and compliance. The leadership team is made of multiple key figures; Jason Brown and James Thomas work out of the Boston office; Melissa Bender is based in San Francisco; Brynn Rail, Mike Doherty, and Bryan Chegwidden are based in New York and; Joel Wattenbarger and Leigh Fraser divide their time between Boston and New York. The firm’s broker-dealer offering, considered a key area of work for the group, is co-led by Rail and management partner Eva Carman in New York.

Practice head(s):

Jason Brown; Melissa Bender; Joel Wattenbarger; Brynn Rail; Leigh Fraser; Mike Doherty; James Thomas; Bryan Chegwidden; Eva Carman

Key clients

Affiliated Managers Group

Thrivent ETF Trust

Thrivent Asset Management

Accolade Capital Management

Menai Financial Group

ProShares Funds

Runa Digital Assets




Siguler Guff

William Blair & Company

Golden X

Meta4 Capital

Stanford University


Fundrise Advisors

Voya Funds

State Street Corporation

State Street Global Advisors

Putnam Funds

Work highlights

  • Advised State Street on compliance with new rules adopted by the SEC and ongoing matters affecting their registered open-end mutual funds.
  • Advised Carlyle on issues relating to Reg BI and Form CRS requirements, matters relating to marketing of private funds, and matters relating to SEC and FINRA compliance.
  • Represented a leading multi-asset alternative investment firms and its various affiliated registered investment advisers on a variety of regulatory matters.

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP offers a multidisciplinary group focused on emerging trends, covering regulatory issues affecting private funds and broker-dealers in relation to the creation and implementation of compliance programs and investigations carried out by FINRA and the SEC, respectively; the team places a further emphasis on issues surrounding digital wallet issuers, card associations, bill payment companies, currency exchangers and stablecoin issuers. The leadership team, which is based in New York, is comprised of Craig Warkol and Julian Rainero on the broker-dealer regulatory and enforcement front as well as banking regulatory expert Donald Mosher and investment management regulatory specialist Marc Elovitz.

Practice head(s):

Craig Warkol; Donald Mosher; Julian Rainero; Marc Elovitz

Key clients

AB CarVal Investors

Ant Group

Aventiv Technologies

Circle Internet Financial

CSG Forte Payment

Dash Financial

Engine No. 1


GCP Capital Partners


Interactive Brokers

Pantera Capital

Point72 Partners


Priority Technology Holdings


Tiger Global Management


Wave Financial

Western Union

Wex Payments

WorldRemit Corp.

Work highlights

  • Advising Visa in relation to its successful acquisition of Currencycloud, a global platform that enables banks and FinTechs to provide innovative foreign exchange solutions for cross-border payments.
  • Advised more than 100 investment fund clients to become compliant with the new SEC Marketing Rule.
  • Advising ICBC on multiple matters, including on a range of U.S. broker-dealer compliance work.

Shearman & Sterling LLP

Based in New York, Shearman & Sterling LLP‘s financial institutions advisory and regulatory practice exhibits extensive experience dealing with core bank regulatory issues, with a further emphasis on broker-dealer compliance and enforcement. Mark Chorazak and Jennifer Morton are key figures in this regard, covering issues derived from US banking laws such as the Dodd-Frank Act and the Bank Holding Act as well as fintech and financial innovation matters. Morton is best known for her work with broker-dealers, addressing concerns in relation to the formation and registration of alternative trading systems.

Practice head(s):

Mark Chorazak; Jennifer Morton

Key clients

Gemini Trust Company

JPMorgan Chase

Bank of America Merrill Lynch

Banco Itaú Unibanco


Morgan Stanley

Banco Bradesco

CVEX Group

Sumitomo Mitsui Banking Corporation

Mizuho Financial Group

Bank of Nova Scotia

Intercontinental Exchange



Banco Bradesco

Development Bank of Japan

Landesbank Baden-Württemberg


BNP Paribas


Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP‘s focus in the financial services regulation field lies in transactions in the space, an offering which is interlinked with the firm’s compliance experience, ensuring banks, insurance companies, securities and mortgage brokers, broker-dealers and credit card issuers are adept at addressing various requirements, including those enacted under the Dodd-Frank Act and Basel III. Lee Meyerson heads the practice from New York, specializing in M&A and capital markets transactions for financial institutions, while Elizabeth Cooper, another key figure from the firm’s executive committee, is recognized for her diverse M&A and corporate transactional knowledge, advising on joint ventures, acquisitions and recapitalizations. Ravi Purushotham is another active member, having been involved in the firm’s advice to TD Bank Group on its acquisition of First Horizon for $13.4bn.

Practice head(s):

Lee Meyerson

Other key lawyers:

Elizabeth Cooper; Ravi Purushotham


‘Simpson Thacher has tremendous strength and depth in financial services and banking, including pure regulatory, enforcement matters, M&A and general representation.’

‘Very experienced experts and professionals, who are efficient and effective. Also, a pleasure to work with.’

‘They are not only experienced and show high expertise but are very collaborative and personal. A pleasure to work with.’

‘Highly responsive and practical in advice.’

Key clients

Angelo, Gordon & Co.



AXIS Capital Holdings


CNO Financial Group

Computershare Limited

Corsair Capital

Fifth Third Bancorp

First Hawaiian Bank

Goldman Sachs & Co.

Institutional Shareholder Services

JPMorgan Chase & Co.


Kohlberg Kravis Roberts & Co.

Massachusetts Mutual Life Insurance Company

Mitsubishi UFJ Trust and Banking Corporation

Mizuho Financial Group

Morgan Stanley

Oak Hill Capital

Oaktree Capital Management

Riverstone Holdings

Sumitomo Life Insurance Company

Synovus Financial

TD Bank Group

The Carlyle Group

The Charles Schwab Corporation

The Travelers Companies

Work highlights

  • Advised TD Bank Group in connection with its proposed acquisition of First Horizon Corporation in an all-cash transaction valued at $13.4bn.

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden, Arps, Slate, Meagher & Flom LLP advises a diverse range of banks, fintech firms, asset managers, insurance companies, payments companies, investment funds and venture capital firms on comprehensive regulatory issues relating to mergers, joint ventures, capital raising, public offerings, and restructurings. Acting on behalf of clients before federal and state regulators is common practice for the firm, with the team regularly standing before the SEC, FDIC and CFTC, an area of expertise supplemented by the group’s broad transactional experience. M&A specialist Jeffrey Brill is an active member in New York, with Brian Christiansen noted as a key contact in Washington DC.

Other key lawyers:

Jeffrey Brill; Brian Christiansen

Work highlights

Venable LLP

Venable LLP‘s experience in financial services regulation extends to compliance, enforcement and litigation, with a client portfolio comprised of innovative startups and long-standing brands in the space. Ellen Berge and Andrew Bigart are key names in the team, co-heading the firm’s payment processing and merchant services practice as well as the broader financial services group- Berge is a key contact for banks, marketplaces and card issuers seeking regulatory advice, paired with her active role representing payment companies in government investigations; Bigart specializes in anti-money laundering, payment network compliance and consumer protection. Jonathan Pompan complements this expertise, acting for a broad spectrum of clients, while senior associate Christopher Boone focuses on payment processing, blockchain and telecoms matters. All named lawyers are based in Washington DC.

Practice head(s):

Ellen Berge; Andrew Bigart

Other key lawyers:

Jonathan Pompan; Christopher Boone

Key clients

Applied Data Finance

Blend Labs

Clarion Capital Partners


Cavalry Portfolio Services

Electronic Transactions Association

First American Payments Systems

Greater Chautauqua Federal Credit Union

Boulevard Federal Credit Union

Greater Niagara Federal Credit Union

Midland Credit Management

Pagaya Technologies

Verizon Communications

Work highlights

  • Advised Cavalry on regulatory compliance related to debt collection and debt buying.
  • Advised Midland Credit Management on compliance, supervisory, and regulatory matters.

White & Case LLP

White & Case LLP is noted for providing comprehensive advice to leading financial institutions, with ‘incredibly deep knowledge of tech, regulations and market practice‘. Clients of the firm also benefit from a wide geographical spread, as the team draws from cross-border expertise to advise the likes of JP Morgan, Banco Itau and the Ministry of Finance of the Republic of El Salvador on transactional and contentious issues encompassing bank regulatory, fintech, cryptocurrency, payment system and anti-money laundering matters. Douglas Landy spearheads the offering from New York, showcasing knowledge of regulatory issues relating to M&A transactions; associate Chante Eliaszadeh joined the Los Angeles office from Dechert LLP in July 2022, fortifying the team’s cryptocurrency experience.

Practice head(s):

Douglas Landy

Other key lawyers:

Chante Eliaszadeh; Pratin Vallabhaneni; Edward So


‘Incredibly deep knowledge of tech, regulations and market practice.’

‘Pratin Vallabhaneni’s combination as a regulator and technical understanding of the fintech sector is unparalleled. He is able to provide solutions to deep technical and regulatory issues efficiently.’

‘Personal service by the partner and cost-effective, scalable documentation solutions make this firm stand out.’

‘Edward So is a fantastic partner. Knowledgeable in a wide range of subjects and has great market color. Solutions oriented advice.’

Key clients

JP Morgan

USDF Consortium

Ministry of Finance of the Republic of El Salvador

Figure Technology

New York Community Bank

Banco Itau

The Provident Bank

Bank of Montreal


Bank of America

Canadian Imperial Bank of Commerce


First Foundation Bank


Credit Agricole

Signature Bank


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