Supervised or directly handled numerous cases covering a broad range of legal and operational problems of banks. Problems involved banking, money laundering, securities, consumer, trust and criminal laws and focused on the operations, management, policies and procedures of banks.
Represented the OCC as legal counsel at countless meetings with the Boards of Directors of national banks. Explained and discussed the problems of the banks and presented and negotiated all forms of administrative actions at these meetings.
Represented the OCC at public seminars discussing enforcement, money laundering and privacy issues.
Successfully argued twice before the U.S. Court of Appeals for the Second Circuit defending an administrative action brought by the OCC. The second time, successfully argued against a former OCC Chief Counsel.
Successfully represented the OCC in various administrative hearings and in District Court proceedings. Personally supervised or directly handled approximately half of the administrative cases the OCC brought between 1983 and May, 2005. Cases involved cease and desist actions, temporary cease and desist proceedings, director liability issues, civil money penalty assessments, removal actions, disbarment proceedings and bank failures.
Supervised the largest reimbursement case the OCC ever brought against a national bank. The amount of reimbursement was $300 million and was for alleged unfair and deceptive practices in marketing credit cards.
Headed up the only case the OCC undertook on behalf of the Division of Liquidation of the FDIC. In this case, we investigated the conduct of a law firm that had represented a large, failed bank. We concluded that two partners of the firm had assisted the bank in engaging in fraud and insider abuse. We negotiated a settlement of $1.5 million, which was the largest personal settlement ever obtained by the OCC.
Headed up a four-week hearing against a multi-national bank for alleged trust violations. The case subsequently settled for approximately $8 million. At the time, this was the largest settlement ever obtained by the OCC against a national bank.
Headed up a year-long investigation and four-week hearing in the successful removal and civil money penalty case against Mr. T. Bertram Lance. Mr. Lance was represented by an attorney honored the previous year as the “Trial Attorney of the Year” for the State of Georgia for his successful defense of Mr. Lance in a criminal trial involving alleged banking violations.
Am a Certified Anti-Money Laundering Specialist.
Was the Editor for ACAMS' 2010-11 revisions to its Study Guide for the CAMS Certification Examination.
Researched and wrote a 100-page report for the American Bankers Association entitled “A New Framework for Partnership,” issued 10/08. The report included five major recommendations for reform of the Bank Secrecy Act and the country’s anti-money laundering policies and procedures. Report also included an extensive legislative history of the laws and regulations implementing the country’s anti-money laundering regime from 1970 to 2008. Report is on the ABA’s website at http://www.aba.com/compliance/CCBSA.htm.
Have made numerous presentations in the area of anti-money laundering and the Bank Secrecy Act. Made a two-day presentation on anti-money laundering for the American Bar Association’s Rule of Law program to 35 judges and prosecutors in Muscat, Oman 2/23-24/08. Made a series of presentations for the Financial Services Volunteer Corps in Moscow, 3/12-15/07. This involved a day of consultations with the public and private sector, participation in the Ninth Russian Banking Conference on anti-money laundering efforts and leading a two-day seminar on correspondent banking. Also, was on a stand-alone (non-concurrent) panel on shell companies and beneficial ownership for the Money Laundering Alert 12th International Conference, 3/19-21/07, that had 1,600 participants.
Worked at Bank of America in its anti-money laundering/Bank Secrecy Act area assisting the bank in revising its anti-money laundering policies and in addressing anti-money laundering policy issues.
Provided advice and guidance to FinCEN on policy issues and pending regulations, as well as on the handling of specific cases involving potential violations of the Bank Secrecy Act. Also worked on issues regarding money services businesses, limited liability companies, mutual funds, the jewelry industry, and issuances under Section 311 of the USA Patriot Act involving countries and banks that can be designated as money laundering concerns. In addition, was instrumental in completing the drafting and issuance of the final rule and a new Notice of Proposed Rulemaking designed to implement Section 312 of the USA Patriot Act pertaining to foreign correspondent bank accounts and private banking accounts for non-U.S. persons.
Was the designated anti-money laundering contact for the Enforcement and Compliance Division of the OCC and was a member of the OCC’s National Anti-Money Laundering Group. Fielded numerous questions from examiners and bankers concerning money laundering and the Bank Secrecy Act, as well as suspicious activity reporting requirements. Headed up a number of the OCC’s formal investigations into possible money laundering and violations of the Bank Secrecy Act. These investigations led to cease and desist orders and civil money penalty actions. The cases also led to corresponding criminal actions, which included seizures of accounts and criminal prosecutions.