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. Kevin has deep and broad experience representing institutional and individual clients before the Federal Reserve, FDIC, OCC, Department of Justice, CFPB, FinCEN, and OFAC. Many of those matters have involved complex, sensitive investigations involving multiple agencies and parties. As part of his public service and private practice, he has developed expertise in areas such as federal and state banking laws and regulations, consumer protection statutes, the Bank Secrecy Act, and anti-money laundering requirements.
Chambers USA has recognized Kevin as a leading lawyer in the nationwide category of Financial Services Regulation: Banking (Enforcement and Investigations), and has highlighted that major financial institutions often seek his counsel to lead their response to investigative and 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.
Perspectives
Recognition
Credentials
- J.D., Syracuse University College of Law, 2012
- B.A., Colgate University, 2007
- District of Columbia
- Maryland
- Enforcement Section, Federal Deposit Insurance Corporation
- 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