A Banking Practice That Offers Best-in-Class Solutions

As others move into the bank space, our practice is distinctive by having leading practices in areas that span the major constituencies in the banking space (compared to other firms that may be strong in one, but not all, of these areas): Wall Street firms; regional banks; foreign banks; and other firms wishing to enter the banking space. We are the primary counsel to a number of regional and foreign banks. Indeed, it is a testament to the strength of our regulatory and compliance practice, and the esteem in which it is held across the highest levels of the financial services industry, that we are the go-to firm not only for many of the top 50 domestic banks and leading foreign banks, but also sophisticated non-bank financial institutions like insurers, broker-dealers, and private equity firms when they wish to enter the banking space or offer bank products. For example, with the RMA, we recently launched a new “Regional Bank Working Group,” composed of senior lawyers and compliance personnel of the regional banks focused exclusively on the regulatory and industry issues this cohort of banks will face in the coming years given the recent financial crisis.

In particular, we are the market leaders in providing compliance and regulatory advice in the following areas:

Volcker Rule matters for U.S. and foreign banks (our representations include the Financial Services Forum, the trade group for the largest U.S. banks, the European Banking Federation, the principal trade group for European banks, and the Investment Company Institute, an asset management trade group, as well as individual U.S. and foreign banks);
U.S. bank formation for insurance, FinTech and nonbank financial providers, forming national banks and industrial banks to enable them to provide banking services to clients while also tailoring their holding company regulation;
M&A/Join Venture-related regulation (as bank M&A revives), providing the sophisticated analyses and application development necessary to close the deal properly and maximize the ongoing benefit to clients. We also help financial institutions and private equity firms enter into joint ventures enabling each party to benefit their respective clients.
Regulatory capital and quantitative liquidity standards (we advise numerous U.S. and foreign global systemically important banks on enterprise-wide regulatory capital and liquidity issues, including total loss absorbing capacity (“TLAC”) requirements, and also have been active in industry-wide advocacy efforts relating to proposed changes to these standards);
Industry-wide advocacy efforts and thought leadership (we have the leading practice representing key trade associations on industry-wide thought leadership and advocacy efforts relating to changing regulatory requirements; our clients include the Financial Services Forum, SIFMA, Investment Company Institute and the American Investment Counsel). We believe no other law firm has as broad of a trade association practice, which reflects the prominence that our group has achieved in the industry in recent years;
Securities finance work (we are the leading firm representing the major U.S. banks and their principal trade group in this area, The Risk Management Association, on all bank and broker-dealer regulatory issues related to the securities finance market, including regulatory capital, liquidity and permissibility issues);
Anti-money laundering and sanctions compliance and enforcement issues (we are counsel to the Securities Industry and Financial Markets Association and represent many of the leading U.S. and foreign banks on AML/sanctions compliance and/or enforcement issues);
Broker dealer/derivatives regulation and enforcement (given that the major broker dealers and derivatives traders are now owned by banks, we have added brokerage and derivatives expertise and have integrated that into the banking practice); and
Consumer regulatory and enforcement issues (we are counsel to a wide range of regional and superregional banks on issues relating to the provision of consumer credit, auto loans, mortgages, mortgage and loan servicing and collection practices, fair lending, deposit-taking, credit reporting, payments, electronic delivery of financial services, UDAAP requirements and privacy and data security).

Ranked among the leading practices in the United States, the Debevoise Banking Group advises banks and other financial institutions (e.g., broker-dealers and investment advisors) on the gamut of regulatory, litigation and transactional matters. Debevoise has a diverse, rapidly growing and broad-ranging regulatory practice advising U.S. banking institutions (“Wall Street,” regional and community), foreign banks, affiliated broker-dealers, and the leading trade groups (e.g., Financial Services Forum, Institute of International Bankers, Risk Management Association and SIFMA) for all of the foregoing, as well as insurance and other non-bank firms that seek to own banks or offer bank products, on the matters of greatest urgency and importance to them, including regulation and regulatory issues related to M&A and enforcement matters. As others move into the bank space, our practice is distinctive by having leading practices in areas that span the major constituencies in the banking space (compared to other firms that may be strong in one, but not all, of these areas): Wall Street firms; regional banks; foreign banks; and other firms wishing to enter the banking space. We are the primary counsel to a number of regional and foreign banks. Indeed, it is a testament to the strength of our regulatory and compliance practice, and the esteem in which it is held across the highest levels of the financial services industry, that we are the go-to firm not only for many of the top 50 domestic banks and leading foreign banks, but also sophisticated non-bank financial institutions like insurers, broker-dealers, and private equity firms when they wish to enter the banking space or offer bank products. For example, with the RMA, we recently launched a new “Regional Bank Working Group,” composed of senior lawyers and compliance personnel of the regional banks focused exclusively on the regulatory and industry issues this cohort of banks will face in the coming years given the recent financial crisis. In particular, we are the market leaders in providing compliance and regulatory advice in the following areas:

Volcker Rule matters for U.S. and foreign banks (our representations include the Financial Services Forum, the trade group for the largest U.S. banks, the European Banking Federation, the principal trade group for European banks, and the Investment Company Institute, an asset management trade group, as well as individual U.S. and foreign banks);

U.S. bank formation for insurance, FinTech and nonbank financial providers, forming national banks and industrial banks to enable them to provide banking services to clients while also tailoring their holding company regulation;

Foreign bank regulation (we have a leading foreign bank practice, including representing the largest foreign banks and their principal trade group, the Institute for International Bankers, on issues associated with having a U.S. intermediate holding company, CCAR, and GSIB status; we also represent smaller foreign banks on expanding their U.S. activities);

M&A/Join Venture-related regulation (as bank M&A revives), providing the sophisticated analyses and application development necessary to close the deal properly and maximize the ongoing benefit to clients. We also help financial institutions and private equity firms enter into joint ventures enabling each party to benefit their respective clients.

Regulatory capital and quantitative liquidity standards (we advise numerous U.S. and foreign global systemically important banks on enterprise-wide regulatory capital and liquidity issues, including total loss absorbing capacity (“TLAC”) requirements, and also have been active in industry-wide advocacy efforts relating to proposed changes to these standards);

Industry-wide advocacy efforts and thought leadership (we have the leading practice representing key trade associations on industry-wide thought leadership and advocacy efforts relating to changing regulatory requirements; our clients include the Financial Services Forum, SIFMA, Investment Company Institute and the American Investment Counsel). We believe no other law firm has as broad of a trade association practice, which reflects the prominence that our group has achieved in the industry in recent years;

Securities finance work (we are the leading firm representing the major U.S. banks and their principal trade group in this area, The Risk Management Association, on all bank and broker-dealer regulatory issues related to the securities finance market, including regulatory capital, liquidity and permissibility issues);

Anti-money laundering and sanctions compliance and enforcement issues (we are counsel to the Securities Industry and Financial Markets Association and represent many of the leading U.S. and foreign banks on AML/sanctions compliance and/or enforcement issues);

Broker dealer/derivatives regulation and enforcement (given that the major broker dealers and derivatives traders are now owned by banks, we have added brokerage and derivatives expertise and have integrated that into the banking practice); and

Consumer regulatory and enforcement issues (we are counsel to a wide range of regional and superregional banks on issues relating to the provision of consumer credit, auto loans, mortgages, mortgage and loan servicing and collection practices, fair lending, deposit-taking, credit reporting, payments, electronic delivery of financial services, UDAAP requirements and privacy and data security).