Our Financial Regulatory Advice & Response group advises some of the largest financial institutions on Recovery and Resolution Planning (“RRP”). Our experience includes the preparation and review of governance playbooks and related training as well as advising on bankruptcy playbooks and related draft filings, potential creditor challenges, qualified financial contracts (“QFCs”), changes to enterprise structure and the effects on RRP, and testing.
Like many aspects of the Dodd-Frank Act and related regulations, RRP has evolved over the years and remains an area of significant regulatory focus. Ensuring ongoing compliance requires counsel with knowledge and experience with RRP through its various iterations, an understanding of the current regulatory priorities, and an ability to tailor guidance to the unique needs and operations of individual institutions.
We approach our work with a combined commitment to meet regulatory expectations and to customize the approach to the realities of each of our clients. For example, we understand that for playbooks to be effective in a crisis, they must succinctly convey relevant aspects of each institution’s approach, situate decision-making within that framework, and recognize the complex, global regulatory environment in which RRP is intended to be implemented. Our success for our clients includes our ability to work with multiple constituencies internally and externally bringing together different stakeholders, and effectively conveying these requirements to our clients’ senior leaders.
- Ed O’Keefe and John Stoker quoted in Global Data Review: “CFPB lawsuit could limit regulatory power over algorithms”10.2022
- Kate Wellman and John Stoker served as guest speakers for Strafford CLE: Attorney-Client Privilege and Bank Examination Privilege for Financial Institutions08.2023
- Ed O’Keefe and John Stoker served as guest speakers for UNC Banking Institute CLE: Developments in UDAAP As an Enforcement Tool04.2023
- John Stoker and Kate Wellman’s article published by Law360: Suit Alleging FDIC Overdraft Overreach May Not Make Waves09.2023
- Kate Wellman and Aishaah Reed Foster’s article published by Westlaw: CFPB targets credit card late fees with lower safe harbor and elimination of annual inflation adjustment in new proposed rule02.2023
- Valecia McDowell, Chassity Bobbitt, and Jonathan Gilmartin author Westlaw article: Diversity culture clashes: the desire for and backlash to DEI audits and interventions02.2023
- Sarah Byrne & Jules Carter co-author JDSupra article: It’s Time to Rectify the Unconscionable Burden Placed on Sex-Trafficked Girls10.2022
- Neil Bloomfield and Kate Wellman’s article published by Thomson Reuters: President’s working group report calls for stablecoin regulation12.2021
- Jim McLoughlin and Ed O'Keefe's article published by Westlaw: When corporate reporting creates criminal riskWestlaw, 03.2021
Blogs and Resources
- Acting Comptroller Hsu Suggests a Potential Path Forward to Address Identified Gaps in the Regulatory Resolution Framework for Large Regional BanksMVA White Collar Defense, Investigations, and Regulatory Advice Blog, 04.08.2022