Client Alert

Global Banking and Payment Systems OnPoint

February 22, 2011

By Paul Hastings Professional

News and insights from our Global Banking and Payment Systems practice

Stay Current

Implementing the Durbin Amendment

Whistleblowers who report securities violations resulting in monetary sanctions over $1 million may get 10-30% of the total recovery

Dodd-Frank represents the most important and comprehensive piece of financial system reform legislation since the reforms following the Great Depression

To read all of our Dodd-Frank StayCurrents, click here.

Our Professionals

With professionals experienced in both bank regulatory and banking system matters, we bring a unique perspective that is unmatched by any other law firm. We help clients navigate the most complex transactions and changing regulations affecting the industry. Our lawyers include former regulators who are actively engaged with the regulatory community. They include:

  • the former Deputy General Counsel and Acting General Counsel of the U.S. Treasury Department's Office of Thrift Supervision;

  • a former senior lawyer in the Chief Counsel's Office of the Office of Thrift Supervision in both the Business Transactions and Enforcement divisions;

  • the former Special Counsel, Managing Director of External Affairs, and Assistant Chief Counsel at the U.S. Treasury Department's Office of Thrift Supervision; and

  • a former senior lawyer with the Securities and Exchange Commission in the Division of Corporate Finance.

To learn more about our professionals, click here.

Recent Client Success

Advised Guardian Life on the voluntary dissolution of its subsidiary depository institution, Guardian Trust Company.

Advised Harleysville National Corporation on bank regulatory matters in connection with its recent acquisition by First Niagara Financial Group.

Advised Citigroup in connection with $12.5 billion divestiture of global property investment management platform pursuant to the Volcker Rule.

Advised several major U.S. retail securities brokerage firms on bank regulatory matters related to deposit sweep programs.

Advising various payment systems companies on non-traditional and emerging payment systems, including mobile payment networks and establishment of virtual currencies.

Regularly advise private equity firms on acquisitions and investments in banking organizations and payment systems companies.

Advising various payment systems companies on entry into China and other foreign markets.

The Dodd-Frank Act, the most profound restructuring of financial regulation since the Great Depression, will have broad and lasting impact on the financial services industry.

For your convenience, we have created a calendar listing the impacts to the various constituencies by date, title, and bill section.

Be sure to visit this page to keep up with the implementation of this important legislation.

What Others are Saying

Chambers USA 2010 touts this group as having "the quality of personnel to match its clients' needs at every level. With the added advantage of being able to interact with partners in commercial practices throughout the firm's national and international offices, the team is hard to beat."

Paul Hastings clients tell Chambers USA 2010 that "Having such a high-quality law firm on your side enables lenders really reduces the risk of a situation; the team provides excellent advice."

The Financial Times ranked Paul Hastings as one of the five law firms in its "US Innovative Lawyers" report. They commended our Financial Services practice for our representation of Citigroup Inc. in its sale of Citi Property Investors to Apollo Global Management and for our representation of PHH Corporation in the TALF extension."

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