Laurel Loomis Rimon

Partner

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Drawing on her almost 25 year career in government service, which included high-level positions at the Department of Justice, Consumer Finance Protection Bureau, and Department of Homeland Security, Laurel Loomis Rimon advises financial institutions, fintech companies, and government entities on compliance issues, enforcement actions, and internal and government investigations.

Before joining O’Melveny, Laurel served for more than 15 years as an Assistant United States Attorney and DOJ Trial Attorney, including tenure as head of Litigation for DOJ’s Asset Forfeiture and Money Laundering Section, where she litigated complex criminal and civil money laundering and other financial crimes.

As a federal prosecutor, Laurel successfully led the earliest federal prosecution involving virtual currency, the money laundering and money transmitting prosecution of the “e-gold” enterprise, providing her with an early appreciation of the intersection of financial services regulation and digital assets.

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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

  • Recognized as a “DC Trailblazer” by the National Law Journal (2020)
  • 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

Speaker

  • “Anticipating Enforcement Priorities in the Biden Administration,” O’Melveny Webinar (January 2021)
  • “FinCEN’s Crackdown on Self-Hosted Wallets,” O’Melveny Webinar (December 2020)
  • “Evaluating Your Risk Exposure for Digital Currencies and FinTechs,” ABA Financial Crimes Conference (December 8-10, 2020)
  • “Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems” American Conference Institute (July 29, 2020)
  • “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)

Select Investigations Experience

  • Representing a multinational bank in connection with an investigation by the CFPB regarding allegations of violations of the Consumer Financial Protection Act related to the auto pay functionality for bank-issued credit cards.
  • Representing a federal educational loan servicing company in connection with an investigation by the CFPB into potential violations of the Consumer Financial Protection Act related to its debt collection practices.
  • Conducted an investigation for a global emerging technology company into inquiries from the Department of Justice related to allegedly fraudulent marketing practices.
  • Conducted an investigation of alleged ethical violations by DC Councilmember Jack Evans, the Ward 2 representative and the District’s longest-serving lawmaker.

Select Fintech Experience

  • Representing one of the largest digital currency exchanges in enforcement actions brought by the US Department of Treasury’s Office of Foreign Assets Control and Financial Crimes Enforcement Network alleging that the exchange’s anti-money laundering compliance program was insufficient.
  • Advising a major financial institution’s cryptocurrency subsidiary on financial regulatory matters, including advising on travel rule compliance and developing an AML and OFAC compliance program.
  • Advising several payments startups on financial regulatory matters, including determining which of their operations may be subject to federal and state financial regulations and developing early stage AML compliance programs customized to their needs.
  • Advised a global e-commerce company in the development of a new anti-money laundering compliance program in connection with its shift to handling its own payments operations.

Other Select Experience

  • Serves as counsel to a government entity in defending against claims of retaliation filed by alleged whistleblowers and subsequent enforcement actions brought by the Nuclear Regulatory Commission.

Alerts and Publications

Non-Fungible Tokens (NFTs): When Collecting Meets Crypto, Legal Challenges Abound

3月 25, 2021

A Clean Sweep: Congress Overhauls Key Provisions of the Nation’s Money Laundering Laws

1月 7, 2021

New COVID-19 Relief Package Revives and Expands Paycheck Protection Program

12月 30, 2020

New FTC Enforcement Action Reminds Fintechs of Consumer Protection Pitfalls

12月 15, 2020

New Strings Attached? SBA Requires PPP Recipients to Re-Prove Need for $2 Million+ Loans

11月 4, 2020

The Recorder: BitMEX Indictment Warns of New Department of Justice Approach on AML Program Failures

11月 3, 2020

DOJ Stakes a Claim in Cryptocurrency Enforcement with Publication of Broad New Framework

10月 26, 2020

Treasury Issues New Guidance on Risks of Ransomware Payments

10月 9, 2020

FinCEN Issues New Anti-Money Laundering Red Flags to Stem Increased Threat of COVID Cybercrime

8月 3, 2020

Fraud Intelligence: Pandemic Predators – Covid-19 Fraud Schemes

7月 30, 2020

Mainstreaming Digital Asset Custody? OCC Greenlights Digital Asset Custody Services for Crypto Assets

7月 23, 2020

AML Compliance After the Blockchain Twitter Hack: How “SAR” Down the Rabbit Hole to Go?

7月 17, 2020

PPP Loan Forgiveness: The SBA’s Application Form Includes New Guidance and Details

5月 20, 2020

DOJ Reviewing PPP Loan Applications for Criminal Fraud, Finding “Red Flags”

5月 4, 2020

Main Street Lending Program Expands Eligibility and Terms

4月 30, 2020

US$484 Billion in New Funds for CARES Act Small Business Loans and Health Care Programs

4月 24, 2020

SBA’s Paycheck Protection Program and Economic Injury Disaster Loan Program

4月 14, 2020

Door Opens to Non-Traditional SBA Lenders’ Participation in SBA’s Paycheck Protection Program

4月 9, 2020

Federal Reserve Announces Two Main Street Lending Programs as Part of Stimulus Efforts

4月 9, 2020

California Department of Business Oversight Sues One of the Nation’s Largest Student Loan Servicers

4月 7, 2020

CARES Act Enforcement Risks

4月 7, 2020

CARES Act: Direct Loans to Non-Investment Grade Businesses and Federal Reserve Liquidity Facilities

4月 3, 2020

COVID-19: Unemployment Assistance for Gig Workers and Independent Contractors

3月 31, 2020

COVID-19: Stimulus to Provide Unprecedented Government Assistance to US Businesses

3月 30, 2020

SBA Affiliation Rules: Funding for Venture-Backed Companies under the CARES Act

3月 29, 2020

Individual Liability: FinCEN Issues Personal Penalty to Former Chief Compliance Officer

3月 16, 2020

CFPB Proposes New Whistleblower Award Program

3月 13, 2020

Heads Up: AML and Economic Sanctions Moves the Crypto Industry Should Watch for From Regulators in 2020

2月 25, 2020

What’s Next in Data Security and Privacy? 6 Trends to Watch in 2020

1月 21, 2020

California Announces Revamp of Consumer Protection Regime in Place of Sidelined CFPB

1月 17, 2020

DOJ Eases Requirements in Corporate Enforcement Policy Update

11月 26, 2019

DOJ Lifts the Curtain on Evaluating Claims of “Inability to Pay”

10月 16, 2019

Token Alliance Releases 2019 Edition of Best Practices Guide For Digital Tokens – AML Guidelines: O’Melveny Lawyers Serve As Expert Contributors

9月 12, 2019

FinCEN SPEAKS CRYPTO: Extensive New Guidance for ICOs, Digital Wallets, DApps, Trading Platforms, Decentralized Exchanges, and others in the Blockchain and Crypto Space

5月 16, 2019

DOJ Issues Expanded Guidance for Prosecutors in Evaluating Corporate Compliance Programs

5月 6, 2019

FinCEN Lays Down a New Marker in Cryptocurrency Anti-Money Laundering Enforcement

4月 26, 2019

Events

In the News

Press Releases