Kevin L. Petrasic. Washington, D.C. Practice Areas. Admissions. Education. Partner, Corporate Department

Transcription

1 Kevin L. Petrasic Partner, Corporate Department Kevin L. Petrasic is a partner in the Global Banking and Payments Systems practice of Paul Hastings and is based in the firm s Washington, D.C., office. He advises banks and financial services firms on a wide array of regulatory, legislative, transactional, and compliance issues under federal and state banking laws, as well as federal securities and commodities laws. Mr. Petrasic also regularly advises national and international financial firms, including national retail securities brokerage and insurance firms, on a wide array of issues under the federal banking laws and issues within the jurisdiction of the Consumer Financial Protection Bureau. Mr. Petrasic has extensive experience in Dodd-Frank compliance, bank/thrift and holding company regulation, credit card and consumer financial compliance laws, UDAAP issues, data privacy/protection and data breach issues, compliance laws impacting payments systems, mergers and acquisitions, antimoney laundering issues and OFAC compliance, depository institution charter powers and activities, the regulation of swaps and related derivatives activities by the Commodity Futures Trading Commission, legislative matters and analysis, mortgage market regulation, and corporate governance. Mr. Petrasic has broad government experience, including serving as Special Counsel, Managing Director of External Affairs, Director of Congressional Affairs, Legislative Counsel, and Assistant Chief Counsel at the U.S. Treasury Department s Office of Thrift Supervision, as well as Counsel to the former House Banking Committee. He worked extensively on the federal government s efforts to stem avoidable foreclosures and identify market-based solutions to the nation s housing crisis. He also has extensive experience preparing Congressional testimony and witnesses appearing before the U.S. Congress. Washington, D.C. T: 1(202) F: 1(202) Practice Areas Global Banking and Payment Systems Corporate Bank Regulatory Financial Services Finance Government Affairs Payment Systems Bank Consumer Class Actions Admissions District of Columbia Bar Maryland Bar Education Catholic University of America Columbus School of Law, J.D., 1984 University of Delaware, B.A., 1981 Recent Representations Advised several regional and community banks on implementation of the Basel III capital rules and worked with clients to issue comments on the interagency

2 proposal to implement such rules Advised foreign subsidiary of a large U.S. bank holding company on CFTC s cross-border application of Dodd-Frank swaps requirements Advised large international financial firm on application of U.S. Bank Secrecy Act/Anti-Money Laundering laws and compliance with requirements of the Office of Foreign Assets Control Advised several financial conglomerates on Federal Reserve Board anti-tying laws and requirements and affiliate transaction restrictions Advised large international insurance firm on federal and state issues related to implementation of an emergency loan program for its employees Advised several banks and private equity firms on provisions and applicability of the Volcker Rule and related issues under the Dodd-Frank Act Advised several regional bank clients on charter and restructuring considerations following enactment of the Dodd-Frank Act Advised various nationwide payments networks and financial services firms on rules and guidance issued by the CFPB, including the agency s international remittance rule Advised bank subsidiary of nationally recognized financial services firm in connection with acquisition of credit card portfolio Advised large regional bank in connection with formation of mortgage operating subsidiary and subsequent acquisition and merger of mortgage company into bank op sub Advised international credit card issuer on requirements imposed on credit card awards programs under U.S. law Advised several card issuers on issues related to Federal Reserve interchange rule Conducted several internal bank regulatory and compliance reviews for bank Audit Committee Advised national credit card issuer on issues related to federal UDAAP laws Advised banks and bank management on executive compensation issues arising under the federal banking laws Advised several banks on rules and issues related to sweep accounts and FDIC classification and treatment of brokered deposits Advised several bank clients on federal bank agency formal and informal supervisory and enforcement-related issues Speaking Engagements and Publications Regular speaker at financial services industry conferences and seminars Appears on various news shows, including Bloomberg Television, Al Jazeera English Television, and The Street.com TV

3 Frequent source for numerous financial publications, including The Wall Street Journal, Financial Times, Bloomberg News, Reuters News Service, the American Banker, BNA Banking Report, BNA Real Estate Report, Law 360, the Deal, and various other national news and financial publications Professional and Community Involvement Member of the District of Columbia, Maryland, Federal and American Bar Associations Executive Council of the Banking Law Committee of the Federal Bar Association Education Catholic University of America Columbus School of Law, J.D., 1984 University of Delaware, B.A., 1981 News July 14, 2008 Paul Hastings Boosts Global Banking and Financial Institutions Practice Group in Washington, D.C. June 05, 2013 Paul Hastings Extensive Practice Strength Highlighted in The Legal 500 United States 2013 Insights January 20, 2015 CFPB 2014 in Review and What s Ahead for 2015 December 01, 2014 CFPB Proposes Comprehensive New Regulatory Regime for Prepaid Cards October 27, 2014 "QM Equals QRM" CFPB Paves the Way for Key Exemption to Risk Retention Rule

4 October 21, 2014 Understanding CFPB Supervision and Enforcement Important Considerations in Working with the Federal Financial Consumer Watchdog August 27, 2014 Elder Financial Abuse and Financial Institutions Growing Risks and Reporting Requirements August 19, 2014 Promoting a Culture of BSA/AML Compliance FinCEN Ups the Ante July 18, 2014 U.S. Issues Significant, Targeted Sanctions Against Designated Firms in Russian Financial and Energy Sectors April 17, 2014 Bank Vendor Management An Aspirin to Prevent a Headache or Just a Headache? April 11, 2014 Getting Personal - Financial Regulators' Warn of a New Era of Individual Responsibility April 02, 2014 Capital Planning in a Fluctuating Regulatory Environment March 24, 2014 Implementing the Volcker Rule: The Covered Fund Restrictions March 19, 2014 Enhanced Prudential Standards for Foreign Banking Organizations U.S. OperationsThe Dodd-Frank ''Quid Pro Quo''

5 March 05, 2014 Compliance Risk Management: What Financial Institutions Need to Know About Reporting Elder Financial Exploitation February 19, 2014 Implementing the Volcker Rule: The Proprietary Trading Prohibition December 11, 2013 Volcker Unveiled - Some Answers, More Questions October 01, 2013 FinCEN Sharpens Teeth with New Enforcement Division Practical Considerations for Avoiding FinCENs Bite September 03, 2013 Regulators Re-Propose Dodd-Frank QRM Rule More Flexibility for Skin in the Game August 27, 2013 Dodd-Frank Act Three Years Later Still A Work In Progress July 12, 2013 CFPB Outlines UDAAPs for Debt Collectors June 27, 2013 The New UDAAP: The CFPB ''Abusive Standard'' Will You Know It When You See It? May 29, 2013 FTC Moves to Regulate the Use of Certain Payment Methods in Telemarketing Sales Rule

6 March 25, 2013 BSA/AML and OFAC Compliance Higher Stakes and Greater Consequences for Banks February 05, 2013 Complying with the CFPB's Qualified Mortgage Rule: Issues for Implementation January 02, 2013 CFPB Seeks Comment on CARD Acts Impact on Consumer Credit Card Market December 21, 2012 CFPB Seeks Comment on Policy to Encourage Trial Consumer Disclosure Programs December 19, 2012 Federal Reserve Board Introduces Dodd-Frank Enhanced Prudential Supervision and Early Remediation Rules for Foreign Banking Organizations December 14, 2012 CFPB and DOJ Execute Agreement to Strengthen Coordination on Fair Lending Enforcement December 04, 2012 CFPB Ombudsman Annual Report Highlights Consumer Complaint Process, CFPB Enforcement Attorneys at Exams December 03, 2012 CFPB Advises Consumer Reporting Agencies on Streamlined Process for Free Annual Consumer Reports November 29, 2012 CFPB Announces More Changes to Come for Remittance Rule, Delayed Implementation

7 November 01, 2012 Payroll Cards: Navigating the Changing Regulatory Landscape June 27, 2012 OFAC Settlement Highlights Importance of Proactive Compliance Monitoring June 11, 2012 CFPB Procedural Rule Highlights Breadth and Scope of Agencys Nonbank Supervision Program May 24, 2012 Georgias Newly Minted Merchant Acquirer Limited Purpose Bank Charter Presents Potential Opportunities...and Risks May 11, 2012 Fed Gives Green Light for Controlling Investments in U.S Banks By Mainland Chinese Entities March 01, 2012 CFPB Review of Overdraft Protection has Broad Implications for Banks February 27, 2012 FDIC Updates Guidance on Payment Processor Relationships February 22, 2012 CFPB Proposes Parameters for Jurisdiction of Larger Participants in Debt Collection and Consumer Reporting Markets January 31, 2012 CFPBs First Final Rule Addresses International Remittance Transfers

8 January 19, 2012 CFPB Makes the Case for Supervisory Examination Privilege January 05, 2012 Federal Reserve Unveils Proposal on Dodd-Frank Enhanced Prudential Standards and Early Remediation Requirements December 08, 2011 CFPB Initiates Inherited Regulations Streamlining Process December 05, 2011 CFPB Announces Early Warning Notice Process for Potential Enforcement Targets November 29, 2011 Federal Agencies Clarify Method of Determining Institutions Subject to CFPBS Supervision and Enforcement Jurisdiction November 01, 2011 The Volcker Rule Proposal Many Questions, Few Answers August 15, 2011 Cooperation, Competition or ConfusionFederal and State Regulators Seek to Enforce the DoddFrank Act and State Consumer Banking Laws in Close Alliance August 11, 2011 Fed Interchange Rule: Beyond First Impressions July 14, 2011 CFPB Initiates Large Bank Supervision Program July 06, 2011

9 OCC Extends Comment Period on Deposit Related Consumer Credit Products June 30, 2011 CFPB Maps Out Larger Participant Nonbank Supervision Program June 23, 2011 Uncertainty Regarding Fed Proposal and CFPB Action on Minimum Underwriting Standards for Consideration of a Consumers Ability to Repay May 24, 2011 California Announces Creation of a Mortgage Fraud Task Force to Pursue Mortgage Fraud at All Levels May 12, 2011 Fed Consolidated Regulation Poses New Challenges for Savings and Loan Holding Companies April 11, 2011 Regulators Propose Skin in the Game Rule March 08, 2011 Bank Consumer Class Actions Teleconference February 25, 2011 Federal Reserve Board Proposal Defines Parameters of FSOC Systemically Significant Designation February 23, 2011 With an Impending Sunset of the Federal Thrift Charter -- the Case for Conversion February 22, 2011

10 Time for a Change the Thrift Charter and Strategic Considerations for Conversion February 09, 2011 Regulators Take Steps to Eliminate Differences in Thrift, Bank and Holding Company Reporting Requirements July 26, 2010 The Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact, Issues and Concerns in Implementing the Volcker Rule July 26, 2010 A New Era in the Regulation of Private Investment Funds July 26, 2010 The Dodd-Frank Wall Street Reform and Consumer Protection Act: Affiliate Transaction and Insider Lending Restrictions July 15, 2010 The Dodd-Frank Wall Street Reform and Consumer Protection Act: Overview and Implementation July 15, 2010 Assessing the Impact of Capitol Hill's Financial Regulatory Reforms on Lending May 06, 2010 FDIC Private Equity Policy Evolves April 26, 2010 Implications of Regulatory Reform for the Credit Rating Agencies March 08, 2010

11 The Volcker Rule - Impact and Implications for Passage July 02, 2009 FDIC to Private Equity: Thanks but (Maybe) No Thanks May 28, 2009 Legacy CMBS TALF: Something New for Something Old May 07, 2009 CMBS TALF: Uncertain Expectations April 30, 2009 Challenges Regulators Face when Conducting Bank Stress Tests March 23, 2009 Mod Out of the Box: Mortgage Modifications for Main Street March 23, 2009 Public-Private Investment: A Three Prong Program for Legacy Assets March 17, 2009 The TALF Catalyst? February 26, 2009 The Top 10 Ways to Deal with Toxic Assets February 10, 2009 Final Rule on Deposit and Sweep Accounts for Depository Institutions February 03, 2009 Congressional Agenda Could Accelerate Banking Agency Rules on Unfair Credit

12 Card Practices and Consumer Disclosures Understanding the New Rules February 02, 2009 High Court to Revisit Federal Preemption January 29, 2009 UDAP Crackdown A Closer Look at the UDAP Analysis Underlying New Credit Card Rules January 28, 2009 House TARP Bill Likely to Model Future Funding Programs December 04, 2008 Safety Deposit November 09, 2008 EESA Update: TARP-CPP Application Requirements and Federal Securities Law Considerations October 22, 2008 EESA Update: TARP-CPP Application Process and Interagency Coordination Round Two October 15, 2008 EESA Update: Interagency Backstop Unfolds October 13, 2008 EESA Update: Treasury Shows More on TARP October 09, 2008 The Emergency Economic Stabilization Act of 2008 (EESA): Summary, Analysis and Implementation

13 October 02, 2008 UPDATE: Comparison of the Original U.S. Treasury Proposal and Current House/Senate Compromise Bill September 29, 2008 Comparison of the Original U.S. Treasury Proposal and Current House/Senate Compromise Bill July 24, 2008 The Rise of Covered Bonds? July 14, 2008 Lessons Learned from Indymac