Weil counsels a number of regulated financial institutions, including domestic and foreign banks, thrift institutions, and holding companies in five main areas of expertise:
U.S. Regulatory Compliance. We represent clients before the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Treasury Department, and U.S. state banking departments. These matters include a range of complex and evolving filing and processing matters, as well as federal and state securities filings. Our expertise includes compliance with, among others, the following federal statutes and the regulations promulgated thereunder:
- Bank Holding Company Act
- Savings & Loan Holding Company Act
- National Bank Act
- Federal Deposit Insurance Act
- Federal Reserve Act
- Change in Bank Control Act
- Bank Merger Act
- International Banking Act
Financial Institutions M&A. Our financial institutions M&A practice is a key component of the Firm’s global Financial Services Group—housing one of the premier financial services M&A practices in the United States. Our practice combines our Firm’s traditional strength in global M&A with a tight focus on financial institutions to provide the buyers and sellers of financial-industry assets -- particulartly those in the private equity sector -- with the legal know-how to complete vital transactions. We have participated in some of the landmark transactions of the past decade, including novel purchases of consumer and commercial loan portfolios (including distressed debt), cross-border investments in state-owned banks, private equity investments in banks and thrifts, asset sales in FDIC auctions, negotiating government assistance programs, and the sale of business units out of bankruptcy.
With Financial Institutions Regulatory lawyers in Washington and New York, and M&A partners and associates resident in New York, Boston, Dallas, Providence, Silicon Valley, London, Paris, Frankfurt, Munich, Warsaw, Budapest, Prague, Hong Kong, Beijing, Shanghai, and Dubai and additional resources available in our other offices worldwide, we are able to provide true international deal execution and local law advice in many of the world’s key jurisdictions. We are experienced in the many aspects of an M&A transaction that are particular to purchasing or selling a regulated financial institution and/or portfolio of financial assets:
- due diligence requirements and issues
- understanding the characteristics of financial assets
- valuation and pricing methodologies
- economic risk allocation
- lease or loan servicing agreements
- navigating the regulatory process
Our lawyers are supported by attorneys from the firm’s consumer finance, tax, employee benefits, litigation, intellectual property and real estate practices, as required during the diligence and documentation stages of any transaction.
Corporate Governance. We provide advice to senior management, boards of directors, and committees on a wide range of corporate governance matters and issues relating to bank governance structure and operations, officer and director liability, and institutional risk management.
Enforcement Actions and Litigation. We are able to provide advice to officers and directors of commercial banks and thrifts on a wide variety of federal and state investigatory and enforcement matters, primarily concerning matters initiated by federal and state banking agencies. We also have been engaged to represent special board committees, including outside directors, in connection with these kinds of matters.
Insolvency & Financial Distress. Our firm has an unparalleled depth of experience advising the management and owners of troubled financial institutions. We counsel clients in connection with informal negotiations and formal administrative proceedings by state regulators, the FDIC, the Comptroller of the Currency, the Federal Reserve, and federal thrift regulators. We draw heavily on our restructuring colleagues’ substantive and negotiating skills to develop effective plans to address and resolve regulatory issues related to financial distress.
Some of our more notable representations include: