Jason Cabral is Of Counsel in the Bank Regulatory and Global Fintech & Payments Groups of Paul Hastings and is based in the firm’s New York office. He regularly advises clients in connection with bank regulatory issues, including matters involving transactions (e.g., mergers, acquisitions, and joint ventures), control and non-control determinations, traditional and alternative lending, capital raising, permissible banking investments and activities, and regulatory enforcement matters and investigations. He advises clients on a wide range of policy, legislative, regulatory, and governance matters, including financial reform, chartering, regulatory applications, corporate restructurings, affiliate and insider transactions, management interlocks, anti-money laundering and terrorist financing, sanctions compliance, as well as third-party vendor risk management.
He also advises clients on corporate governance and other general corporate and strategic matters.
Jason regularly advises clients with respect to the requirements imposed by federal and state banking and financial services laws, including the Bank Holding Company Act, National Bank Act, Federal Deposit Insurance Act, and Dodd-Frank Wall Street Reform and Consumer Protection Act, and their implementing regulations.
He represents clients before the U.S. federal agencies involved with financial services, including the Board of Governors of the Federal Reserve System, the Office of Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and the U.S. Department of the Treasury, as well various state banking departments, including the New York State Department of Financial Services.
Jason also regularly advises fintechs regarding the potential application of federal and state banking laws and regulations to their proposed investments and activities in the financial services sector and the range of regulatory options available to them, including state and federal licensing, bank partnerships, bank charters, and various charter options currently available or under development in the United States. He also represents fintechs in the development of payments and other financial technology businesses and systems and the structuring and development of new financial products and services.
Prior to joining Paul Hastings, Jason was special counsel in the Financial Services Group at a multinational firm in New York and, most recently, a partner in the Banking and Financial Services Group of a Boston-based national firm.
- Quinnipiac University School of Law, J.D. (summa cum laude), 2007
- Ohio University, B.S. (magna cum laude), 2004
- Numerous U.S. banks and fintechs in connection with partnering to offer banking-as-a-service solutions.
- A regional bank in all aspects of its various innovative fintech partnerships.
- Payments and technology companies in connection with federal and state bank and trust company charter applications or state money transmission licensing.
- Organizers in connection with their charter applications to establish full-service, FDIC-insured national or state banks.
- U.S. and non-U.S. bank holding companies in connection with their applications and notices to the Federal Reserve under Sections 3 and 4 of the Bank Holding Company Act, the Federal Reserve’s Regulation K, and Section 163(b) of the Dodd-Frank Act and insured depository institutions in connection with their merger, change in control, branch opening or closing, or other applications and notices to the Federal Reserve, FDIC, OCC, New York State Department of Financial Services, and other state bank regulatory agencies.
- U.S. and non-U.S. bank holding companies in connection with structuring non-controlling investments in conformance with the Bank Holding Company Act, including Section 4(c)(6) and merchant banking investments.
- Numerous banks, neobanks and third-party vendors in data processing, software, and third-party vendor contract negotiations.
- A fintech in connection with the establishment of its bank partnership and the launch of its small business lending solution.
- A startup in connection with the establishment of its bank partnership and the launch of its app-based savings solution for children, as well as early-stage investments.
- Numerous U.S. depository organizations and private equity firms in connection with exemptions under the Depository Institution Management Interlocks Act.
- U.S. and non-U.S. bank holding companies regarding corrective actions necessary to maintain financial holding company status.
- U.S. and non-U.S. financial institutions with respect to criminal and regulatory enforcement matters and investigations and the potential impact of such enforcement matters and investigations on their worldwide operations.
- The Goldman Sachs Group, Inc., in becoming a bank holding company in September 2008 and ongoing advice regarding bank regulatory matters related to conformance with banking laws and its global operations.
- Goldman Sachs Bank USA in its acquisition of GE Capital Bank’s online deposit platform and assumption of its online deposits.
Engagement & Publications
- Author of numerous articles and opinion pieces for local and national publications about legal and policy issues arising in the financial services and fintech industries.
- Frequent speaker and contributor on federal and state bank regulatory developments.