Closely regulated, vulnerable to intense government scrutiny, and subject to litigation, financial institutions must persevere to succeed and grow in a difficult, often hostile regulatory environment.
Pryor Cashman’s Financial Institutions Practice provides comprehensive representation to banks and other financial institutions. Co-led by a former federal bank regulator and a former member of the U.S. Attorney’s office, we couple an insider’s perspective with decades of experience handling negotiations with bank regulators. Our team includes skilled banking litigators with experience handling intra-agency appeals, regulatory enforcement proceedings and receivership lawsuits, government criminal investigations, and internal investigations.
What We Do
In conjunction with Pryor Cashman’s other practices, including Banking + Finance (lending), Corporate, Litigation, Securities + Corporate Finance, Labor + Employment, Executive Compensation, ERISA + Employee Benefits, and Intellectual Property, the lawyers in our Financial Institutions Practice advise on and assist with:
- Forming and growing banking businesses
- Negotiating executive employment contracts
- Negotiating contracts with service providers and vendors
- Reviewing policies and procedures
- Advising on mergers and acquisitions
- Responding appropriately to regulatory inquiries
- Filing intra-agency appeals
- Defending against enforcement actions
- Handling internal and external investigations
- Responding to subpoenas
- Litigating receivership lawsuits
Guidance Through the Regulatory and Administrative Maze
Our practice has substantial experience dealing with bank regulatory and administrative issues, including supervision and examination of federally chartered and state-chartered commercial banks, savings banks, foreign banks and their domestic offices, and financial technology companies. We guide clients through the regulatory process for controlling and noncontrolling acquisitions, structuring investments to comply with the government’s rigorous requirements, and additional regulatory matters.
Advising on Mergers and Acquisitions
We help clients identify and evaluate strategic and financial acquisition targets and suitors and provide the legal support needed to expand into new markets. Additionally, we prepare and submit all necessary regulatory filings, including change-in-control and bank merger applications, and guide clients through the regulatory approval process.
Filing Intra-Agency Appeals
We have substantial experience with the federal banking agencies’ intra-agency appeals processes. Our attorneys have filed successful intra-agency appeals and have, in several cases, submitted comment letters recommending changes to appeals processes that have been adopted.
Advocating in Administrative Proceedings and Civil Litigation
When financial institutions, their boards of directors and senior management face investigations and enforcement actions, we defend them before federal banking agencies, including the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (FRB), and the Consumer Financial Protection Bureau (CFPB), as well as state agencies. In many cases, we have defeated unwarranted enforcement actions and have enabled clients to flourish in a heated regulatory environment.
Our lawyers also represent directors and officers of troubled and failed banks in FDIC receivership and enforcement actions seeking civil money penalties and bar and prohibition orders.
Internal Investigations
We regularly represent banks and boards of directors conducting internal investigations into potential misconduct by employees, officers, and directors. We also assist banks in self-reporting misconduct to their regulators, as appropriate. In addition, we represent individuals who are the subject of an internal investigation. In any investigation, we advise our clients concerning the potential collateral consequences of the internal investigation on potential civil or criminal government investigations.
Representing Targets and Witnesses in Criminal Actions
Our team has substantial experience representing directors and officers in complex criminal cases from investigation through trial. This depth of experience, in the most serious of criminal matters, allows us to advise individuals and institutions in every phase of government investigations, including parallel civil and criminal investigations.
