Norman H. Roos, chair of the firm's Finance Group, concentrates his practice on transactional and regulatory matters relating to the financial services and real estate industries.
Mr. Roos represents banks, insurance companies, diversified financial service companies, and other publicly and privately held entities on a broad range of matters involving consumer and commercial credit transactions with a special focus on mortgage banking. He handles corporate and contract matters, and his broad range of experience includes bank acquisitions, student lending transactions, timeshare finance, and commercial real estate financing. Mr. Roos also serves as an outside general counsel for financial institutions and a state trade association.
Mr. Roos has extensive experience with large-scale and complex financial transactions. He assisted a major national lender with the establishment of a manufactured home construction loan program. He has also represented banks and mortgage companies in the acquisition and disposition of performing and nonperforming loan portfolios. In addition, Mr. Roos assists clients, including card issuers, payment processors, and merchants, on payment processing matters and contracts.
Regulatory Compliance and Enforcement
Mr. Roos counsels banks and financial institutions on compliance with regulations of various government agencies, such as the State of Connecticut Department of Banking, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board. He has worked with a number of leading national mortgage lenders as outside regulatory counsel. He has counseled financial service providers on a wide variety of legal and regulatory matters involving, among other laws, the Truth-in-Lending Act, Equal Credit Opportunity Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Gramm-Leach Bliley Act, Dodd-Frank Wall Street Reform and Consumer Protection Act, and state licensing laws. He also provides guidance on capital requirements, payment processing, anti-money laundering, and virtual currency matters.
Mr. Roos also advises clients facing enforcement actions by regulatory agencies. Mr. Roos has obtained positive outcomes for clients in enforcement actions, including preserving his clients’ licenses in numerous administrative proceedings.
Data Privacy, Cybersecurity and FinTech
Mr. Roos advises financial institutions concerning data privacy and security matters, particularly in relation to policy planning and implementation. He provides legal advice related to new financial products and delivery methods, including online and mobile banking services. Mr. Roos also counsels financial services clients on the development and implications of data breach incident response policies. He has represented national mortgage lenders in connection with privacy, data security, incident response, and information management policies and procedures. He regularly contributes to the firm’s blog, Data Privacy + Security Insider.
Mr. Roos is counsel to the Connecticut Mortgage Bankers Association, Inc., and he is the Treasurer of the American College of Mortgage Attorneys where he also serves on the Board of Regents. A member of the Connecticut Bar Association, Mr. Roos is Past Chair of the Financial Institutions Law Section and the Consumer Law Section. He has served on a number of Connecticut Law Revision Study Committees including those on the Uniform Common Interest Ownership Act, Electronic Communications, Mortgagor Liability, and Electronic Recording of Land Records.
Mr. Roos writes frequently about financial matters. He is the author of The CMBA Handbook on Connecticut Mortgage Statutes: An Analysis and Compilation of Connecticut Legislation Affecting Residential First Mortgage Lending and the editor of the American College of Mortgage Attorneys newsletter (the ACMA Abstract). His articles have appeared in The National Law Journal, Real Estate Finance Journal, The Banking Law Journal, Mortgage Technology, and National Mortgage News, among other publications. Mr. Roos also is a frequent lecturer at bar and trade association programs on mortgage lending and consumer credit.
Mr. Roos has been listed in The Best Lawyers in America© in the areas of Banking and Finance Law and Financial Services Regulation Law since 2012. He also has been listed in Connecticut Super Lawyers® in the area of Business/Corporate since 2006 (Super Lawyers is a registered trademark of Key Professional Media, Inc.)