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Financial Services

Reputation is a treasured asset for financial services organizations — which is why the industry's global, regional, mid-sized and community banks, broker-dealers, and specialty finance and Fintech firms trust Arnold & Porter to support their businesses. Our widely recognized Financial Services team combines renowned regulatory, litigation, and transactional capabilities with pragmatic problem-solving and results-driven determination to optimize our clients' options. We develop innovative structures and novel solutions to regulatory issues that allow clients to optimize their business strategy. To date, these efforts have led to favorable changes to agency rules and novel legal interpretations that have enabled our clients to offer new products and services, structure operations, and expand the scope of their operations in an efficient manner, consistent with their business objectives.

  • Recognized Regulatory Excellence: Deep knowledge of all applicable financial services regulatory laws of the U.S. as well as the views of the Basel Committee on Banking Supervision and the Financial Stability Board.

  • Comprehensive Coverage for Complex Issues: Counseling on structure and charter choices; governance; investigations and enforcement actions; financial products and services; applying agency guidance and statements of policy; obtaining regulatory approvals, registrations, and licenses; and securing interpretations of existing statutes/rules.

  • Interdisciplinary Approach/Integrated Solutions: Decades of industry and sub-sector experience enhanced by insights from our market-leading corporate and finance; litigation; enforcement; public policy and legislative; antitrust/competition; tax, trusts, and estates; real estate, ERISA; employment; and IP practices.

70+: Lawyers providing financial institution clients with comprehensive regulatory, litigation, legislative, and transactional services.
Countless Connections: We have deep experience and familiarity with the views and expectations of the financial regulators.
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Experience Highlights

  • Several banks regarding compliance with the New York Department of Financial Services' Part 500 cybersecurity rules.

  • Many banks and broker-dealers regarding sweep deposits and brokered CD programs.

  • Wealth management arms of several prominent banking organizations on strategic issues, acquisitions, employment matters, products and services documentation, customer-facing agreements, negotiation of vendor agreements, and a broad range of bank and securities regulatory compliance issues.

  • Multiple banking organizations in the design, documentation, formation, offering, and operation of private investment funds for institutional and high-net-worth investors.

  • Multiple domestic and foreign banks, securities firms and other financial services firms on AML/BSA compliance, investigations and enforcement matters.

  • Multiple banks on investments in and acquisitions of banks, Fintech companies, finance businesses, broker-dealers, and investment advisers.

  • Multiple U.S. and foreign banks on Volcker Rule and merchant banking rule compliance in structuring joint ventures, investment programs and private fund products.

  • Piermont Bank in all aspects of forming a new state-chartered bank, including all regulatory applications (advice and processing), corporate governance advice, and initial capital raise.

    • Multiple large banks in numerous investigations by DOJ and the Small Business Administration’s Office of Inspector General in connection with fraudulent Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster (EIDL) loans.
  • Financial services firms and borrowers regarding (1) new financing facilities under the COVID-19 emergency Federal Reserve and CARES Act financing facilities, and (2) the enforcement and litigation considerations associated with these financing programs and regulatory guidance.

Language - English

Focus Areas

Key Contacts

Kevin M. Toomey
Kevin M. Toomey
Washington, D.C.
+1 202.942.5874
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Related Services


  • Chambers USA
    Financial Services Regulation: Banking—Enforcement & Investigations (Nationwide) (2024)
    Financial Services Regulation: Banking—Compliance (Nationwide) (2024)
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  • Chambers Latin America
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  • Chambers FinTech
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  • IFLR1000
    Financial Services Regulatory (USA) (2023)
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    Restructuring & Insolvency (USA) (UK) (2023)
  • Chambers Global
    Banking & Finance (Latin America-wide) (2017)
  • U.S. News & World Report and Best Lawyers

    "Best Law Firms" for Insurance (San Francisco) (2022)
    "Best Law Firms" for Financial Services Regulation (National, DC) (2022)
    "Best Law Firms" for Banking & Finance (National, DC) (2022)
    "Best Law Firms" for Insurance Litigation (Colorado) (2022)
    "Best Law Firms" for Banking & Finance Litigation (National, San Francisco) (2017)

  • Law360
    MVP for Banking Law (2015)
    Banking Practice Group of the Year (2014)