Image: Laurel Loomis Rimon

Laurel Loomis Rimon

Partner, Litigation Department

Overview

Laurel Loomis Rimon is a partner in the Investigations & White Collar Defense and Fintech & Payments practices at Paul Hastings and is based in the firm’s Washington, D.C., office. Ms. Rimon is a recognized expert in anti-money laundering, consumer protection, and financial technology regulation and enforcement. Drawing on her almost 25-year career in government service, including high- level positions at the Department of Justice, Consumer Finance Protection Bureau, and Department of Homeland Security, Ms. Rimon represents financial institutions, fintech companies, individuals, and government entities in  enforcement actions, internal and government investigations, and building efficient compliance programs.

For more than 15 years, Ms. Rimon served as an Assistant United States Attorney and DOJ Trial Attorney, including as head of Litigation for DOJ’s Asset Forfeiture and Money Laundering Section, where she supervised and litigated complex criminal and civil money laundering and other financial crimes on an international and domestic scale. Ms.  Rimon served as an Assistant Deputy Enforcement Director for the Office of Enforcement at the Consumer Financial Protection Bureau, leading complex and sensitive investigations of bank and non-bank subjects including large banks, private educational institutions, and mortgage loan companies. Her government experience also included a Senior Executive Service appointment as General Counsel to the Inspector General for the Department of Homeland Security.

Ms. Rimon leverages this deep regulatory and enforcement experience to help her financial institution clients develop compliance programs and respond to DOJ, FinCEN, NY DFS, and CFPB inquiries and enforcement actions regarding anti-money laundering, Bank Secrecy Act, and the Consumer Financial Protection Act. She also advises cutting-edge fintech companies in the payments and cryptocurrency spaces on financial regulatory compliance and enforcement matters relating to AML, sanctions, and consumer protection.

Recognitions

  • Chambers USA, FinTech Legal - Leading Individual (2022)
  • The Legal 500, Corporate Investigations and White-Collar Criminal Defense (2021)
  • National Law Journal, "DC Trailblazer" (2020)
  • Assistant Attorney General’s Award, Safeguarding and Maintenance of Confidence in the American Marketplace
  • Assistant Attorney General’s Award, Outstanding Advocacy in Protecting Citizens from Online Crime

Education

  • Southwestern Law School, J.D. 1993
  • University of California at Berkeley, B.A. 1988

Representations

Investigations

  • Represented a multinational bank in connection with an investigation by the CFPB regarding allegations of violations of the Consumer Financial Protection Act related to the auto pay functionality for bank-issued credit cards.
  • Represented a federal educational loan servicing company in connection with an investigation by the CFPB into potential violations of the Consumer Financial Protection Act related to its debt collection practices.
  • Conducted an investigation for a global emerging technology company into inquiries from the Department of Justice related to allegedly fraudulent marketing practices.
  • Conducted an investigation of alleged ethical violations by D.C. Councilmember Jack Evans, the Ward 2 representative and the District’s longest-serving lawmaker.

Fintech

  • Represented one of the largest digital currency exchanges in enforcement actions brought by the U.S. Department of Treasury’s Office of Foreign Assets Control and Financial Crimes Enforcement Network alleging that the exchange’s anti-money laundering compliance program was insufficient.
  • Advised a major financial institution’s cryptocurrency subsidiary on financial regulatory matters, including advising on travel rule compliance and developing an AML and OFAC compliance program.
  • Advised several payments startups on financial regulatory matters, including determining which of their operations may be subject to federal and state financial regulations and developing early stage AML compliance programs customized to their needs.
  • Advised a global e-commerce company in the development of a new anti-money laundering compliance program in connection with its shift to handling its own payments operations.

Other Select Experience

  • Served as counsel to a government entity in defending against claims of retaliation filed by alleged whistleblowers and subsequent enforcement actions brought by the Nuclear Regulatory Commission.

Engagement & Publications

Author

  • "BitMEX Indictment Warns of New Department of Justice Approach on AML Program Failures," The Recorder (November 2020)
  • "Pandemic predators – Covid-19 fraud schemes," Fraud Intelligence (July 2020)
  • Expert Contributor, "Understanding Digital Tokens: Guidelines for Anti-Money Laundering Compliance and Combatting the Financing of Terrorism," Chamber of Digital Commerce (September 2019)
  • "Legalized sports gambling: Anti-money laundering compliance," Westlaw Journal Bank & Lender Liability (October 2018)
  • "Why cryptocurrency businesses need to heed FinCEN’s onboarding regs," PaymentsSource (May 2018)
  • "Op Ed: A Quick-Start Token Sale Compliance Guide: What You Need to Know," Bitcoin Magazine (March 2018)

Featured

  • "The Rise and Fall of Bitcoin Billionaire Arthur Hayes," Vanity Fair (April 2021)

Speaker

  • "Cryptocurrency: Valuation Issues and Market Volatility," American Bankruptcy Institute Webinar (September 2021)
  • "Evaluating Your Risk Exposure for Digital Currencies and FinTechs," ABA Financial Crimes Conference (December 8-10, 2020)
  • "Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems," American Conference Institute (July 29, 2020)
  • "Legal Perspectives on Fintech, BSA/AML," International Bankers Association of California’s Special Update on Regulatory Hot Topics, FinTech Solutions and OFAC Compliance (December 11, 2019)
  • "Women Lawyers in Blockchain," Celo (September 19, 2019)
  • "Staying compliant in this complex and changing regulatory environment," ACI’s Women Leaders in Financial Law and Compliance Conference (September 18, 2019)
  • "Fintech: Friend or foe? Collaboration and Regulation in Emerging Tech," at the FIBA AML Compliance Conference in Miami (March 13, 2019)

Practice Areas

Investigations and White Collar Defense
Fintech and Payments

Languages

English

Admissions

District of Columbia Bar
California Bar

Education

Southwestern Law School, J.D. 1993
University of California, Berkeley, B.A. 1988

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