Financial Services Regulatory Matters


The Dodd-Frank Wall Street Reform and Consumer Protection Act ushered in an era of regulatory oversight and scrutiny that touches nearly every segment of the nation's financial services industry. Our Financial Services Regulatory Matters Group helps clients navigate the maze of regulatory requirements, stay ahead of business-critical issues, and manage compliance effectively.

Our Services and Our Team

Our team is closely aligned with lawyers in related practices to provide integrated client solutions. For example, we work closely with our Mergers and Acquisitions Team to help clients take advantage of new market opportunities. Our Securities Group assists with securities offerings, securities act filings, proxies and shareholder issues, and exchange and NASDAQ listings. We also leverage the strength and experience of the firm's litigators as needed to represent our clients in SEC and FINRA enforcement investigations as well as before state attorneys general and state regulatory bodies. Members of our Data Privacy + Cybersecurity Team and Regulatory Team have combined their resources to establish a Financial Services Cyber-Compliance Team to assist clients in complying with new regulations designed to counter technology-driven threats to the financial services industry.

The regulatory matters we handle for financial services providers include the following:

  • development and documentation of loan and deposit products
  • permitted investments and activities 
  • branch, "limited branch," and trust office applications 
  • compliance with consumer protection laws and regulations 
  • portfolio review 
  • operational issues such as check clearing, branch closing, lending restrictions, and trust powers
  • product approval 
  • development of NYDFS-compliant cybersecurity policies
  • market conduct investigations and compliance programs 
  • IMSA independent assessor reviews 
  • guaranty fund and insolvency issues 
  • licensing

We regularly deal with issues arising under various federal and state laws, including the following federal Acts:

  • the Gramm-Leach-Bliley Act
  •  the Truth in Lending Act
  • the Real Estate Settlement Procedures Act
  • the Equal Credit Opportunity Act
  • the Home Mortgage Disclosure Act
  • the Fair Credit Reporting Act
  • the Fair Debt Collection Practices Act

Our lawyers have a broad background in dealing with state and federal regulators in transactions. We counsel banks, insurance companies, mortgage companies, and other financial service providers on numerous regulatory and operating issues and frequently represent them before regulators in connection with  regulatory matters and enforcement actions. We advise clients in connection with federal and state regulations affecting loan origination, loan servicing, licensing, branching, financial privacy, fair lending, and anti-money laundering.

    • Experience
      • Assisted institutions in complying with consumer protection and other laws affecting consumer products and services. Institutions are subject to the numerous laws, which are designed to protect consumers, such as unfair and deceptive acts and practices ("UDAP") acts, "plain language" contract laws, and regulations governing advertising, retail sales promotions, promotional drawings, and raffles.

      • Developed privacy policies and procedures for various financial institutions and Web-based financial service providers.
      • Counseled financial institutions in addressing privacy issues raised by the Gramm-Leach-Bliley Act, the Fair Credit Reporting Act, and various state laws.

      • Assisted individuals and institutions in addressing licensing issues regarding the sale and promotion of insurance products.

      • Assisted institutions in complying with installment loan financing laws applicable to auto mobile loans and other consumer goods and services, and the FTC holder-in-due course and trade practices rules, as well as state and federal regulations relating to timeshares, campground interests, student loans, and other consumer obligations.

      • Represented clients in the audit, acquisition, financing, and sale of residential loan portfolios, timeshare loan portfolios, student loan portfolios, campground unit purchase contracts, automobile leases, and other consumer receivables, including due-diligence reviews of the underlying documents, contracts, and procedures for compliance with federal and state laws.

      • Counseled clients with respect to the Truth-in-Savings Act, deposit account contracts, credit insurance, electronic funds transfers, ACH transfers, garnishments, setoffs, the offering of securities products and life insurance, as well as other matters affecting the rights of consumers in relation to bank deposit accounts and other financial investment products.

      • Assisted clients in complying with state and federal laws applicable to the collection of consumer debts and other consumer obligations, as well as the repossession of the accompanying collateral.

      • Assisted in employment matters, including compliance with federal regulatory requirements.

    • News
      • October 18, 2018

        51 Robinson+Cole Lawyers Recognized by Super Lawyers®

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      • September 18, 2017

        Norman Roos Moderates 2017 CMBA Annual Mortgage Law Forum

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      • February 19, 2014

        Mandy Eckhoff Selected as One of Boston's Future Leaders

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      • December 23, 2013

        Norman Roos Speaks at Mortgage Servicing Compliance Forum

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      • December 4, 2013

        Norman Roos Writes Article for Hartford Courant

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      • November 18, 2013

        Michael Maglio Speaks at CBA Meeting

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      • November 1, 2013

        Robinson & Cole Receives 34 First-Tier Metropolitan Rankings and Three National Rankings in U.S. News – Best Lawyers Survey

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      • October 21, 2013

        Super Lawyers® Names 61 Robinson & Cole Attorneys to 2013 List

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      • October 8, 2013

        Norman Roos Moderates CMBA Legislative Update Seminar

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      • August 27, 2013

        Robinson & Cole Lawyers Provide Commentary in Law360

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      • August 16, 2013

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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      • March 21, 2013

        Robinson & Cole Attorneys Selected for Top Women Attorneys in Massachusetts

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      • February 28, 2013

        Robinson & Cole Lawyer Co-Authors Connecticut Chapter of The Law of Guaranties Guide

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      • February 20, 2013

        Norman Roos Authors Article in the Hartford Courant

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      • February 1, 2013

        Norman Roos Moderates and Speaks at The New England Mortgage Expo

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      • January 22, 2013

        Norman Roos Quoted in Connecticut Post

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      • January 18, 2013

        Robinson & Cole Announces 2013 Counsel Promotions

      • December 4, 2012

        Norm Roos Delivers Presentation on Electronic Recording and Mortgage Licensing

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      • October 18, 2012

        Robinson & Cole Attorney Norman Roos Receives Inaugural NEMBC Hall of Fame Award

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      • September 14, 2012

        Ten Robinson & Cole Attorneys Selected as “Lawyers of the Year”

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      • September 12, 2012

        Norman Roos Talks with the Commercial Record About New Consumer Financial Protection Bureau Mortgage Disclosure Rules

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      • August 28, 2012

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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      • July 19, 2012

        Attorneys Advise Commercial Lenders on What They Need to Know

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      • April 30, 2012

        Finance Partner’s Article on SAFE Act and Truth in Lending Act Published in Hartford Courant

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      • April 9, 2012

        CFPB Issues Bulletin on Application of Compensation Rules to "Qualified Plans" - Payments to Qualified Plans Permitted

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      • February 8, 2012

        Norm Roos Presents Webinar on What Lenders Need to Know About Regulatory Compliance

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      • November 17, 2011

        Finance Partner Moderates at Connecticut Mortgage Bankers Association Legislative Update Seminar

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      • November 4, 2011

        Bankers Want Feds to Lay Off is the Message at Connecticut Mortgage Bankers Association Forum

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      • October 28, 2011

        Finance Attorneys Discuss Dodd–Frank and SAFE Acts at Affordable Housing Conference

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      • January 11, 2011

        Robinson & Cole Elects New Partners

      • December 17, 2010

        Attorneys Reelected to Connecticut Chapter Board

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      • December 15, 2010

        A Look at New Regulations for Loan Originator Compensation

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      • November 8, 2010

        Program Examines Impact of the Dodd Frank Act on Non-financial Businesses

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      • November 2, 2010

        Finance Partner Selected to Serve on Connecticut Law Revision Commission Advisory Committee

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      • October 28, 2010

        Robinson & Cole Managing Partner Joins Board of Connecticut Business & Industry Association

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      • October 21, 2010

        Mortgage Banking Lawyer Comments on Proposed Freeze on Foreclosures in State Courts

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      • October 13, 2010

        Timeshare Financing Transactions Will Not Bear Full Brunt of Dodd-Frank Act

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      • August 5, 2010

        Norman H. Roos and James R. Kinyon Present on Mortgage Lending Laws

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      • June 30, 2010

        Patrick Birney Leads Off Bankruptcy Law360 coverage of Schwab v. Reilly

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      • May 11, 2010

        Robinson & Cole Attorney Speaks on Bankruptcy Panel During Business Law Program

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      • April 23, 2010

        Robinson & Cole Attorney Speaks on Forbearance Agreements at Real Estate Finance Association Program

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      • March 30, 2010

        Robinson & Cole Attorney Quoted in The Commercial Record on Bank Efforts to Raise Cash

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      • February 2, 2010

        Robinson & Cole Attorneys Elected to Board of Directors of Turnaround Management Association’s Connecticut Chapter

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      • September 25, 2009

        Robinson & Cole Attorneys Address Legislative Developments Before the Connecticut Mortgage Bankers Association

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    • Publications + Presentations
    • "Modernizing Vendor Risk Management in Financial Services," published in Law360, authored by Richard M. Borden (7/25/2016)
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      "Finance Regulatory Update" (10/1/2015)

      "Financial Institutions and Social Media: Staying Current and Staying Compliant" (01/24/2014)

      "Delaware Bankruptcy Court Limits Credit Bid to Loan Buyer’s Purchase Price" (01/22/2014)

      "Connecticut Mortgage Bankers Association's Legislative Update Seminar," presented by Norman H. Roos, moderator (10/24/2012)

      "New Regulations Put a Crimp in Mortgage Industry," published in The Hartford Courant, authored by Norman H. Roos (4/13/2012)

      "The Changing Regulatory Environment," at Housing 2011, the annual conference of the Connecticut Housing Coalition, presented by Norman H. Roos (10/19/2011)

      "Loan Originator Compensation – New Regulation Z Rules," at Connecticut Mortgage Bankers Association Meeting at Webster Bank in New Britain, Connecticut, co-presented by Norman H. Roos and Catherine Moreton Gray; attorneys from Bankers Advisory, Inc., and Webster Bank (12/7/2010)

      "Financial Reform Act Expands SEC's Enforcement Powers and Liability for Securities Violations" (08/17/2010)

      "Dodd-Frank Financial Reform Act Legal Update" (08/12/2010)

      "NYSE Rule Prohibits Discretionary Broker Voting on Uncontested Director Elections" (04/23/2010)

      "New Federal Guidance for Lenders Supports Workouts over Foreclosures" (12/30/2009)

      "Letters of Credit - How a Seller Can Ensure Payment Even in a Bad Economy" (04/01/2009)

      "2008 Connecticut Laws Enable Homeowners to Obtain Mediation in Foreclosures: Some Basic Information Concerning the Mediation Process," published in Hartford Courant, authored by Norman H. Roos, Real Estate Supplement (12/2008)

      "Business Litigation Group Education Series" (09/19/2008)

      "Anticipated Legislative Changes in the Mortgage Industry and Possible Relief to Borrowers," published in The First-Time Home Buyer Magazine, authored by Norman H. Roos (6/2008)

      "Connecticut Mortgage Bankers Association's Legislative Update Seminar," presented by Norman H. Roos, moderator (10/26/2011)

      "Ten Things Commercial Lenders Should Know About Regulatory Compliance," co-authored by Norman H. Roos and Travis R. Searles, published in Connecticut Banking magazine (Second Quarter 2012)

      "Pending 2009 Connecticut Legislative Proposals Affecting the Residential Mortgage Lending Industry,," at the Connecticut Mortgage Bankers Association's Compliance and Legislative Forum in New Britain, Connecticut

Our Team