Our financial services clients—including commercial and investment banks, consumer banks, lenders and servicers, asset managers, payments firms, broker dealers, financial technology providers, and consumer-reporting agencies—look to O’Melveny’s award-winning team to help them understand and comply with today’s reams of regulations and to prepare them for what regulators may scrutiny tomorrow.
We are often “in the room” early, helping our clients craft and implement effective compliance programs and advising them on what to consider before introducing new financial services. This is where our experience in government and in-house with multinational firms, national banks, and key trade associations is invaluable. Our insiders’ perspective is an asset too in helping to respond to sensitive investigations and resolve enforcement matters.
Our clients value our pragmatism and discretion—much of the work we are most proud of no one but the client will ever know about because we helped our clients efficiently build or refine practices to avoid regulatory scrutiny. In today’s environment of aggressive regulation, where a misjudgment can be devastating for a company’s reputation, we give our clients the security and space to concentrate on innovation and bringing world-class products to their customers.
We have extensive experience (much of it inside the government) in:
- Anti-Money Laundering
- Change in Bank Control Act
- Bank Holding Company Act
- Bank Secrecy Act
- Bank Service Company Act
- Dodd-Frank Act
- Electronic Fund Transfer Act
- Equal Credit Opportunity Act
- Fair Credit Reporting Act
- Fair Debt Collections Practices Act
- Fair Housing Act
- International Banking Act
- Know Your Customer
- Patriot Act
- Real Estate Settlement Procedures Act
- Truth in Lending Act
- Truth in Servicing Act
Counseled company throughout a CFPB investigation related to its debt-collection practices.
Worked with national financial institution in monitoring and complying with state financial regulations, including advising on new legislative initiatives.
Assisted with parallel investigations by the SEC, DOJ, and a state regulator into the client’s token sale and accusations of fraud.
Represented bank in several CFPB investigations involving digital banking, mortgage servicing, and HMDA compliance.
Negotiated the first-ever joint consent order with the Consumer Financial Protection Bureau and the Federal Trade Commission regarding mortgage servicing.
Helped design and implement OCC consent-order programs.
Helped leading mortgage servicer respond to notices of breaches related to the company’s Servicing Agreements with various mortgage investors, including potential claims arising from pandemic-related defaults.
Overhauled client’s practices for tracking and accounting for consumer bankruptcy filings across all consumer-lending and deposit lines.
Assisted dozens of banks, and other community development financial institutions, in corporate transactions and regulatory enforcement matters before the Federal Reserve, FDIC, OCC, and state banking agencies.
Successfully supported institutions in regulatory exams, avoiding reference to enforcement divisions of multiple fair-lending issues.
Helped overhaul mortgage-servicing and depository processes related to customers in bankruptcy. The revised processes have withstood regulatory scrutiny and avoided significant legal and regulatory risk for our clients in the strictly scrutinized area of consumer practices impacting accounts of borrowers in bankruptcy.
Advised on payment processing, electronic fund transfers, and lending issues in response to inquiries from the CFPB, FTC, and state regulators.
Counseled a major online marketplace in its first AML policy and program, including developing strategy and implementing FinCEN registration and licensing applications.
Assisted with response to FDIC and FRB inquiries into its marketplace lending practices.
O’Melveny is “plugged into how the regulators function and understands their idiosyncrasies.”
—Client Testimonial, Chambers USA
“Well known for its involvement in mortgage lending matters, consumer financial services litigation, and various large-scale regulatory investigations.”
—The Legal 500 US
“I have the utmost confidence in their ability to handle complex regulatory actions, litigation and disputes.”
—Client Testimonial, The Legal 500 US