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Litigation and Compliance For Financial Institutions

Service

Profile
Services
Experience
People

Harris Beach provides a full complement of services to financial institutions of all sizes, from the largest national and international banks to local banks and credit unions. Our attorneys have extensive experience handling virtually every type of litigation a banking institution encounters, on an individual and class basis. Our attorneys also handle matters before state and federal agencies including the New York Department of Financial Services (DFS), Federal Deposit Insurance Corporation (FDIC), National Credit Union Association (NCUA), Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB), the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC).

Bank Operations Litigation

  • Defending large individual and class-action claims related to fraud and misconduct perpetrated using accounts, including aiding and abetting claims for alleged failure to meet Anti-Money Laundering/Bank Secrecy Act (BSA/AML) requirements
  • Defending regulator enforcement actions against institutions and their employees
  • Handling all types of claims brought under Uniform Commercial Code – Article III (Negotiable Instruments), Uniform Commercial Code Article IV (Bank Deposits and Collections), and Uniform Commercial Code Article IV(A) (wire transfers)
  • Handling all types of claims brought under the Electronic Fund Transfer Act (EFTA), including Regulation E, debit cards, credit cards and Automated Clearing House (ACH) transactions
  • Defending individual and class claims under consumer protection statutes, including the Fair Debt Collection Practice Act (FDCPA), Fair Credit Reporting Act (FRCA) and Telephone Consumer Protection Act (TCPA)
  • Defending home and auto lending claims, on an individual and class-wide basis, related to underwriting, origination, servicing and collection compliance under consumer lending statutes and predatory lender liability claims, including Truth in Lending Act (TILA) and Real Estate Settlement Procedures (RESPA)
  • Handling claims of disputed account ownership, business conflicts and divorce, and account takeovers
  • Defending claims brought under Racketeer Influenced and Corrupt Organization Act (RICO)
  • Defending safe deposit box claims
  • Loss mitigation/collections, garnishments, attachments, replevin and repossession

Regulatory Compliance

Bank Secrecy Act/Anti-Money Laundering

  • Reviewing and troubleshooting weaknesses in BSA/AML compliance programs
  • Defending against examinations, government investigations and enforcement actions
  • Engaging FinCEN and the federal banking agencies to resolve outstanding compliance and enforcement matters
  • Advising banks on making BSA/AML compliance programs more risk-based and efficient
  • Implementing new policies, procedures and controls to comply with the Anti-Money Laundering Act of 2020
  • Mitigating third-party and fintech risks
  • Defending and protecting financial institutions from disclosure of protected Suspicious Activity Report (SAR) filings

Consumer Financial Services

  • Drafting Deposit Agreements
  • Drafting disclosure and notification language
  • Counseling on fair lending compliance, including redlining and reverse redlining

Elderly and Vulnerable Customers

  • Advising on compliance concerns to prevent and detect financial exploitation of elderly and other vulnerable persons and attendant reporting requirements

Licensing

  • Counseling on special concerns related to small business lending, including marketplace lending and merchant cash advances
  • Assisting in third-party due diligence

Cybersecurity and Protection of Customer Data

  • Counseling on compliance with Gramm Leach Bliley and New York’s Cybersecurity Regulation
  • Assisting in third-party oversight

Examinations and Training

  • Counseling on pre-examination compliance audits and representation during examinations
  • Assisting in development of internal policies and procedures, including employee training

Representative Litigation Matters

  • Obtained dismissal with prejudice of investor class-action lawsuit asserting Racketeer Influenced and Corrupt Organizations Act (RICO) and conspiracy claims against a large financial institution and seeking treble damages in excess of $200 million resulting from massive fraud perpetrated by a bank customer
  • Obtained dismissal and summary judgment of investor class-action lawsuit asserting aiding and abetting, negligence and unjust enrichment claims in excess of $44 million against a large financial institution arising from massive Ponzi scheme perpetuated by “German Bernie Madoff”
  • Successfully resolved aiding and abetting and fraudulent transfer claims following highly publicized three-week part bench/part jury trial brought against a large financial institution by receiver appointed in SEC enforcement action arising from $68 million Ponzi scheme targeting Haitian-American community
  • Obtained summary judgment in favor of large financial institution on negligence and unjust enrichment claims brought by large architectural and engineering company
    based upon a more than $40 million employee embezzlement by company officers
  • Obtained unanimous appellate victory and judgment for large national bank in dispute involving a failed loan/partnership regarding the development of a $13 million low-income/senior housing facility which was designed to utilize millions of dollars in federal and state tax credits
  • Obtaining emergency guardianships in cases of suspected and confirmed financial exploitation and abuse

Additional Representative Matters

  • Defended a regional bank against negative BSA/AML examination findings
  • Advised a regional bank on Customer Identification Program, Customer Due Diligence, and OFAC compliance
  • Represented individuals in enforcement actions before federal banking agencies
  • Advised a regional mortgage servicer on compliance with DFS’s Cybersecurity Regulation
  • Defended an auto lender in a consumer class action related to repossession practices
  • Represented a mortgage lender in a dispute involving disclosures required pursuant to the Real Estate Settlement Procedures Act and the Truth in Lending Act
  • Defended a regional bank against allegations of “redlining” fair lending violations

Leader(s)

Elliot Hallak

Elliot A. Hallak

Member
Ross Hofherr

Ross B. Hofherr

Member
Daniel R. LeCours

Daniel R. LeCours

Member
Constantine Lizas

Constantine P. Lizas

Member

Team

Seth Hiland

Seth T. Hiland

Member
Julian Modesti

Julian B. Modesti

Member
Beth Wilkens

Beth Ela Wilkens

Counsel
All Insights, All Publications, Legal Alert |
 June 5, 2019
Legislation Poised to Award Increased Rights for Breach of Consumer Data
Legislation pending in New York state may grant broader rights to consumers after breaches expose their personal information. If passed and...read more
All Insights, All Publications, Legal Alert |
 January 10, 2019
New SEC Rules Will Require Disclosure of Hedging Policies
The Securities and Exchange Commission (SEC) has adopted new rules that will require public companies to disclose their hedging practices an...read more
All Insights |
 December 5, 2018
New Lobbying Regulations in New York
New lobbying regulations in New York go into effect on January 1, 2019. With the new regulations, the New York State Joint Commission on Pub...read more
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Litigation and Compliance For Financial Institutions

Service

Harris Beach provides a full complement of services to financial institutions of all sizes, from the largest national and international banks to local banks and credit unions. Our attorneys have extensive experience handling virtually every type of litigation a banking institution encounters, on an individual and class basis. Our attorneys also handle matters before state and federal agencies including the New York Department of Financial Services (DFS), Federal Deposit Insurance Corporation (FDIC), National Credit Union Association (NCUA), Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB), the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC).

■ All Services

Bank Operations Litigation

  • Defending large individual and class-action claims related to fraud and misconduct perpetrated using accounts, including aiding and abetting claims for alleged failure to meet Anti-Money Laundering/Bank Secrecy Act (BSA/AML) requirements
  • Defending regulator enforcement actions against institutions and their employees
  • Handling all types of claims brought under Uniform Commercial Code – Article III (Negotiable Instruments), Uniform Commercial Code Article IV (Bank Deposits and Collections), and Uniform Commercial Code Article IV(A) (wire transfers)
  • Handling all types of claims brought under the Electronic Fund Transfer Act (EFTA), including Regulation E, debit cards, credit cards and Automated Clearing House (ACH) transactions
  • Defending individual and class claims under consumer protection statutes, including the Fair Debt Collection Practice Act (FDCPA), Fair Credit Reporting Act (FRCA) and Telephone Consumer Protection Act (TCPA)
  • Defending home and auto lending claims, on an individual and class-wide basis, related to underwriting, origination, servicing and collection compliance under consumer lending statutes and predatory lender liability claims, including Truth in Lending Act (TILA) and Real Estate Settlement Procedures (RESPA)
  • Handling claims of disputed account ownership, business conflicts and divorce, and account takeovers
  • Defending claims brought under Racketeer Influenced and Corrupt Organization Act (RICO)
  • Defending safe deposit box claims
  • Loss mitigation/collections, garnishments, attachments, replevin and repossession

Regulatory Compliance

Bank Secrecy Act/Anti-Money Laundering

  • Reviewing and troubleshooting weaknesses in BSA/AML compliance programs
  • Defending against examinations, government investigations and enforcement actions
  • Engaging FinCEN and the federal banking agencies to resolve outstanding compliance and enforcement matters
  • Advising banks on making BSA/AML compliance programs more risk-based and efficient
  • Implementing new policies, procedures and controls to comply with the Anti-Money Laundering Act of 2020
  • Mitigating third-party and fintech risks
  • Defending and protecting financial institutions from disclosure of protected Suspicious Activity Report (SAR) filings

Consumer Financial Services

  • Drafting Deposit Agreements
  • Drafting disclosure and notification language
  • Counseling on fair lending compliance, including redlining and reverse redlining

Elderly and Vulnerable Customers

  • Advising on compliance concerns to prevent and detect financial exploitation of elderly and other vulnerable persons and attendant reporting requirements

Licensing

  • Counseling on special concerns related to small business lending, including marketplace lending and merchant cash advances
  • Assisting in third-party due diligence

Cybersecurity and Protection of Customer Data

  • Counseling on compliance with Gramm Leach Bliley and New York’s Cybersecurity Regulation
  • Assisting in third-party oversight

Examinations and Training

  • Counseling on pre-examination compliance audits and representation during examinations
  • Assisting in development of internal policies and procedures, including employee training

■ People

Seth T. Hiland

Member
(607) 330-7721
shiland@harrisbeach.com

Julian B. Modesti

Member
(315) 214-2004
jmodesti@harrisbeach.com

Beth Ela Wilkens

Counsel
(585) 419-8645
bwilkens@harrisbeach.com

Harris Beach and its subsidiaries provide a full range of legal and professional services for clients across New York state, as well as nationally and internationally. Harris Beach is among the country’s top law firms as ranked by The National Law Journal and is among the BTI Elite law firms based on in-depth interviews of more than 600 corporate counsel at the world’s largest and most influential companies. Our clients include Fortune 100 corporations, privately-held companies, emerging businesses, public sector entities, not-for-profit organizations and individuals. Principal industries we represent include education, energy, financial, food and beverage, health care, insurance, manufacturing, medical and life sciences, real estate developers, and state and local governments and authorities.

Industry Teams
Automotive and Vehicle Dealerships
Blockchain and Digital Assets 
Cannabis
Construction and Surety
Educational Institutions Higher Ed
Educational Institutions K-12
EMS and Fire Protection Providers
Energy
Financial Institutions and Capital Markets
Food and Beverage
Health Care
Industrial and Consumer Manufacturing
Medical and Life Sciences
Municipalities and Local Agencies
Nanotechnology
Photonics
Racing and Gaming
Real Estate Developers
Science and Technology
Telecommunications and Media
Unmanned Aircraft Systems
USA Collegiate Sports
Veterinary Medicine

Practices
Alternative Dispute Resolution
Appellate
Business and Commercial Litigation
Collection Law
Commercial Real Estate
Corporate
Cybersecurity Protection and Response
Diversity Compliance
E-Discovery (e-infoSM)
Employee Benefits
Employment Litigation
Environmental Law
Environmental, Social and Governance (ESG)
Financial Restructuring, Bankruptcy and Creditors’ Rights
Government Compliance and Investigations
Health Law
Immigration Law
Insurance Coverage
Intellectual Property Law
International Trade Law
Internet Law
Labor and Employment Law
Mass Torts and Industry-Wide Litigation
New Markets Tax Credit
Patent, Trademark and Copyright Law
Product Liability and Comprehensive General Liability
Public Finance and Economic Development
Real Property Valuation Litigation
Residential Real Estate
Tax Law
White Collar Crime
Wills, Trusts and Estates

Consulting Services
HB Solutions LLC
Collegiate Sports Compliance
Data Privacy and Cybersecurity
Economic Development and Public Affairs
Educational Institution Assistance
EMRG® (E-Discovery Management Resources Group)
Energy
Health and Human Services
Human Resources
Information Technology
Marketing and Communication Services
Municipal and Local Agency Assistance

HB Cornerstone LLC
Owner Representation
Design Services
Facilities Consulting
Move Management

Caetra.io
CyMetric (Cybersecurity Regulation Compliance Software)

Offices throughout New York:

Albany
677 Broadway
Albany, NY 12207
518-427-9700

Buffalo
726 Exchange Street
Buffalo, NY 14210
716-200-5050

Ithaca
119 East Seneca Street
Ithaca, NY 14850
607-273-6444

Long Island
333 Earle Ovington Boulevard
Uniondale, NY 11553
516-880-8484

New York City
100 Wall Street
New York, NY 10005
212-687-0100

Rochester
99 Garnsey Road
Pittsford, NY 14534
585-419-8800

Saratoga Springs
513 Broadway
Saratoga Springs, NY 12866
518-587-0551

Syracuse
333 West Washington Street
Syracuse, NY 13202
315-423-7100

White Plains
445 Hamilton Avenue
White Plains, NY 10601
914-683-1200

Offices also in:

New Haven, CT
195 Church Street
New Haven, CT 06510
203-784-3159

Newark, NJ
One Gateway Center
Newark, NJ 07102
973-848-1244

Washington, DC
800-685-1429

Attorney Advertising. Prior results do not guarantee a similar outcome.
© 2022 Harris Beach PLLC

Content current as of June 2, 2023 2:12 am
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