Laurel Loomis Rimon
Partner
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Laurel Loomis Rimon is a former federal prosecutor and experienced litigator who represents clients on a broad range of anti-money laundering and Fintech enforcement issues, as well as sensitive internal investigations and criminal and civil litigation.
As a member of O’Melveny’s Coronavirus Task Force, Laurel advises clients on their eligibility for and obligations under available federal finance programs. She counsels small to mid-size businesses on SBA lending, Federal Reserve credit facilities, and health and human services grants and state and local governments on federal block grants.
Before coming to O’Melveny, Laurel served for more than 15 years as an Assistant United States Attorney and DOJ Trial Attorney, with a particular focus on litigating complex criminal and civil money laundering and other financial crimes involving some of the largest domestic and international corporations and financial institutions. As the head of Litigation for DOJ’s Asset Forfeiture and Money Laundering Section, she successfully coordinated numerous investigations of international financial institutions related to money laundering and sanctions violations, resulting in Deferred Prosecution Agreements coordinated with the Manhattan District Attorney’s Office and the Office of Foreign Assets Control. Laurel also served as Chief of the Special Prosecutions Unit at the US Attorney’s Office for the Eastern District of California, where she played a leading role in important mortgage fraud initiatives, including conducting jury trials.
Laurel’s decades of high-level government experience also include serving as an Assistant Deputy Enforcement Director for the Office of Enforcement at the Consumer Financial Protection Bureau, leading complex and sensitive investigations of bank and non-bank subjects including large banks, private educational institutions, and mortgage loan companies. Laurel also recently served as the General Counsel for the Office of the Inspector General at the US Department of Homeland Security, where she managed and advised on high-stakes criminal and administrative investigations, audits, inspections, and congressional relations.
Corporate & Government Experience
- General Counsel, Office of the Inspector General, US Department of Homeland Security
- Assistant Deputy Enforcement Director, Office of Enforcement, US Consumer Financial Protection Bureau
- Chief, Special Prosecutions Unit, US Attorney’s Office for the Eastern District of California
- Deputy Chief, Financial Investigations and Litigation Unit, Asset Forfeiture and Money Laundering Section, US Department of Justice
- Assistant US Attorney, Fraud and Public Corruption Section, US Attorney’s Office for the District of Columbia
- Trial Attorney, US Department of Justice Civil Division
Honors & Awards
- Assistant Attorney General’s Award for The Safeguarding and Maintenance of Confidence in the American Marketplace
- Assistant Attorney General’s Award for Outstanding Advocacy in Protecting Citizens from Online Crime
Admissions
Bar Admissions
- District of Columbia
- California
Education
- Southwestern Law School, J.D.
- University of California at Berkeley, B.A.
Professional Activities
Clerkships
- Honorable Kenneth Harkins, US Court of Federal Claims
Author
- “US$484 Billion in New Funds for CARES Act Small Business Loans and Health Care Programs,” O'Melveny Client Alert (April 2020)
- “SBA’s Paycheck Protection Program and Economic Injury Disaster Loan Program,” O'Melveny Client Alert (April 2020)
- “Door Opens to Non-Traditional SBA Lenders’ Participation in SBA’s Paycheck Protection Program,” O'Melveny Client Alert (April 2020)
- “Federal Reserve Announces Two Main Street Lending Programs as Part of Stimulus Efforts,” O'Melveny Client Alert (April 2020)
- “California Department of Business Oversight Sues One of the Nation’s Largest Student Loan Servicers,” O'Melveny Client Alert (April 2020)
- “CARES Act Enforcement Risks,” O'Melveny Client Alert (April 2020)
- “CARES Act: Direct Loans to Non-Investment Grade Businesses and Federal Reserve Liquidity Facilities,” O'Melveny Client Alert (April 2020)
- “COVID-19: Unemployment Assistance for Gig Workers and Independent Contractors,” O'Melveny Client Alert (March 2020)
- “COVID-19: Stimulus to Provide Unprecedented Government Assistance to US Businesses,” O'Melveny Client Alert (March 2020)
- “SBA Affiliation Rules: Funding for Venture-Backed Companies under the CARES Act,” O'Melveny Client Alert (March 2020)
- “Individual Liability: FinCEN Issues Personal Penalty to Former Chief Compliance Officer,” O'Melveny Client Alert (March 2020)
- “CFPB Proposes New Whistleblower Award Program,” O'Melveny Client Alert (March 2020)
- “Heads Up: AML and Economic Sanctions Moves the Crypto Industry Should Watch for From Regulators in 2020,” O'Melveny Client Alert (February 2020)
- “What’s Next in Data Security and Privacy? 6 Trends to Watch in 2020,” O'Melveny Client Alert (January 2020)
- “California Announces Revamp of Consumer Protection Regime in Place of Sidelined CFPB,” O'Melveny Client Alert (January 2020)
- “DOJ Eases Requirements in Corporate Enforcement Policy Update,” O'Melveny Client Alert (November 2019)
- “DOJ Lifts the Curtain on Evaluating Claims of “Inability to Pay”,” O'Melveny Client Alert (October 2019)
- “Token Alliance Releases 2019 Edition of Best Practices Guide For Digital Tokens – AML Guidelines: O’Melveny Lawyers Serve As Expert Contributors,” O'Melveny Client Alert (September 2019)
- Expert Contributor, “Understanding Digital Tokens: Guidelines for Anti-Money Laundering Compliance and Combatting the Financing of Terrorism,” Chamber of Digital Commerce (September 2019)
- “FinCEN SPEAKS CRYPTO: Extensive New Guidance for ICOs, Digital Wallets, DApps, Trading Platforms, Decentralized Exchanges, and others in the Blockchain and Crypto Space,” O'Melveny Client Alert (May 2019)
- “FinCEN Lays Down a New Marker in Cryptocurrency Anti-Money Laundering Enforcement,” O’Melveny Client Alert (April 2019)
- “DOJ Issues Expanded Guidance for Prosecutors in Evaluating Corporate Compliance Programs,” O'Melveny Client Alert (May 2019)
- “Expanded CFPB Sandbox Promises Greater Protections for Fintech and Other Financial Services Companies,” O'Melveny Client Alert (January 2019)
- “Fintech: Anti-Money Laundering Compliance 101,” O'Melveny Client Alert (October 2018)
- “Legalized sports gambling: Anti-money laundering compliance,” Westlaw Journal Bank & Lender Liability (October 2018)
- “Why cryptocurrency businesses need to heed FinCEN’s onboarding regs,” PaymentsSource (May 2018)
- “The Impact of the Emerging AML Landscape in the EU on Cryptocurrency,” O’Melveny Client Alert (April 2018)
- “Op Ed: A Quick-Start Token Sale Compliance Guide: What You Need to Know,” Bitcoin Magazine (March 2018)
- “Do All ICO Issuers Have to Register as Money Service Businesses with FinCEN?,” O’Melveny Client Alert, with Eric Sibbitt (March 2018)
Speaker
- “Legal Perspectives on Fintech, BSA/AML,” International Bankers Association of California’s Special Update on Regulatory Hot Topics, FinTech Solutions and OFAC Compliance (December 11, 2019)
- “Women Lawyers in Blockchain,” Celo (September 19, 2019)
- “Staying compliant in this complex and changing regulatory environment,” ACI’s Women Leaders in Financial Law and Compliance Conference (September 18, 2019)
- “Fintech: Friend or foe? Collaboration and Regulation in Emerging Tech,” at the FIBA AML Compliance Conference in Miami (March 13, 2019)
- “Sports Betting: Rewards and Risks, Compliance Panel,” O’Melveny/EY Panel (January 31, 2019)
- “Virtual Currency Panel,” Mid-Atlantic Anti-Money Laundering Conference (July 2018)
- Fintech/BSA/Sanctions, International Bankers Ass’n of California (December 4, 2018)
- “The Latest Updates on Financial Crime and Risk Issues Facing the Gaming Industry,” International Association of Gaming Advisors Webinar (October 17, 2018)
- “Safe Bets: How the Supreme Court’s Sports Gambling Decision Affects AML Nationwide,” 2018 ACAMS AML and Financial Crimes Conference (October 3, 2018)
- Cyber and Fintech Developments in BSA/AML/OFAC, 2018 Mid-Atlantic Anti-Money Laundering Conference (July 24, 2018)
- “Exploring the New Frontier of Cryptocurrency & Blockchain,” Investor Rights Committee of the DC Bar Corporation, Finance and Securities Law Community (June 6, 2018)
- “Whistleblowers vs. Leakers,” Federal Bar Association: Current Issues in Government Investigations Conference (April 2018)
