Kevin Toomey represents banks and other financial services companies, along with their boards of directors and senior management, in a wide range of enforcement, regulatory, and corporate governance matters before, among others, the Federal Reserve, FDIC, OCC, Department of Justice, CFPB, FinCEN, and OFAC. Mr. Toomey regularly represents clients in sensitive investigative proceedings, including navigating internal and government investigations, and advises clients on issues relating to the Bank Secrecy Act and anti-money laundering requirements, consumer protection, and state and federal banking laws and regulations.

Chambers USA recognized Mr. Toomey as a leading lawyer in the nationwide category of Financial Services Regulation: Banking (Enforcement and Investigations) and noted that he is regularly sought out by major financial institutions to provide leadership in enforcement proceedings involving multiple government agencies.

Experience

  • Lenders in investigations by DOJ and SBA-OIG relating to the Small Business Administration's Paycheck Protection Program (PPP).
  • Financial institutions in investigations relating to suspected bank fraud, money laundering, and potential noncompliance with BSA/AML regulations.
  • Multiple bank executives in OCC enforcement proceedings arising out of allegations of improper sales practices, resulting in favorable outcomes for the clients.
  • Member of senior management in investigation conducted by the OCC, resulting in no enforcement action being taken.
  • Former bank executive in successfully modifying an order of prohibition issued by the FDIC.
  • Financial institution in Panama Papers investigation conducted by SDNY and MLARS.
  • National bank in an investigation under the Bank Secrecy Act brought by the OCC, FinCEN, and DOJ, resulting in a favorable outcome for the client.
  • Special Committee of large nonbank financial institution in internal and government investigations (DOJ, SEC and FDIC) relating to alleged violations of securities laws, resulting in a favorable outcome for the client.
  • Industrial loan company in internal investigation relating to whistleblower allegations.
  • Nonbank financial institutions in internal investigations relating to BSA/AML requirements.
  • Board of directors of credit union on corporate governance matters and enforcement proceedings brought by the New York State Department of Financial Services and NCUA.
  • Outside directors of a state nonmember bank's board of directors in enforcement proceeding brought by the FDIC relating to BSA/AML matters, resulting in favorable resolutions for the clients.
  • Major retailer in connection with internal investigations of revenue recognition practices and potential diversion and structuring activities by company employees.

Recognition

Chambers USA
Financial Services Regulation: Banking—Enforcement & Investigations (Nationwide) (2022)
The Legal 500 US
Financial Services Regulation (2022)
Washington, DC Super Lawyers
"Rising Star"—Banking (2017–2022)

Credentials

Education
  • JD, Syracuse University College of Law, 2012
  • BA, Colgate University, 2007
Admissions
  • District of Columbia
  • Maryland
Government & Military Service
  • Enforcement Section, Federal Deposit Insurance Corporation
Activities
  • Vice Chair, Bank Secrecy Act and Anti-Money Laundering Subcommittee of the ABA Banking Law Committee
  • Executive Council, Banking Law Section of the Federal Bar Association
  • Instructor, BSA/AML/OFAC Compliance Training Series, Institute for International Bankers
  • Board of Directors, MinBanc Foundation, a nonprofit that awards educational grants to banking professionals employed by women- and minority-owned financial institutions
  • Member, Law360's 2022 Fintech Editorial Advisory Board
Overview

Email Disclaimer