Helpful information and links available in our Bank Crisis Resource Center.
Drawing on our extensive experience and deep understanding of the complex regulatory landscape, we provide strategic guidance to financial institutions on a wide range of regulatory and compliance matters. Our team advises clients on the complex regulations issued by the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and state and federal banking and securities supervisors. We have extensive experience advising clients on navigating through regional banking crises, having advised both government agencies and clients in the nation’s most difficult financial situations.
Depending upon the structure of the FDIC bidding process, insured banks may be considered first as potential acquirers. This raises the possibility of "shelf charters" to enable additional bidders to qualify. WilmerHale's lawyers have extensive experience with shelf charter structuring and process.
We understand that banking and financial services regulations can be complex and challenging to navigate. That's why we offer comprehensive legal services to help our clients address issues affected by the major banking regulators. Our team of experienced attorneys has a deep understanding of the banking industry and the regulatory framework that governs it. We work closely with our clients to identify the regulatory issues that matter most to them and provide practical guidance on how to comply with the regulations while achieving their business objectives.
Public Policy & Congressional Investigations
In response to the recent bank crises, including the Silicon Valley Bank (SVB) failure, our team of experienced attorneys is committed to representing and advocating for clients affected by these events before key oversight and policymaking committees in Congress and regulatory bodies. We understand the importance of staying informed about legislative and regulatory developments specifically related to the bank crises, as it is crucial for making informed business decisions. Navigating the complexities of the ever-changing regulatory landscape in the wake of a bank failure can be challenging, and we work closely with our clients to identify the most relevant legislative and regulatory issues stemming from these financial disruptions.
Our deep understanding of the legislative process allows us to provide practical guidance on minimizing adverse effects, and we keep our clients updated on key developments that could impact their businesses, including potential consequences arising from the SVB collapse. With a proven track record of advocating on behalf of clients and extensive experience working with government agencies, trade associations, and stakeholders, we effectively influence the legislative and regulatory process to address the concerns surrounding the banking crises. Our goal is to help clients stay ahead of legislative and regulatory developments, specifically those related to the SVB collapse and other bank crises, and thrive in an ever-changing environment by working closely with them and providing necessary information and guidance.
Congressional investigations in the context of bank crises pose unique considerations and risks for companies and individuals under scrutiny, with high public, political, and collateral stakes. These inquiries often unfold quickly and require a strategic response different from that needed in courtrooms or before regulators. With experience in numerous congressional investigations, including those related to financial institutions, our firm is skilled at navigating this distinctive forum and addressing the challenges posed by the recent banking crises. WilmerHale is adept at navigating the culture, protocols and politics of this distinctive forum.
No law firm has handled as many and varied a range of congressional inquiries across industries and issues as WilmerHale. Our experience spans more than two dozen congressional committees and subcommittees, and has included more than 235 congressional investigations in the past decade—spanning both chambers of Congress, every major committee and virtually every industry sector. Many of our lawyers have led congressional investigations from the other side of the table while working in Congress, and others have responded to countless congressional inquiries on behalf of the executive branch while serving in senior positions at the White House, the Department of Justice and many independent federal agencies. While our experience includes many of the most complex and high-profile congressional investigations of recent years, we count among our successes the many times our clients did not have to testify and the story never made it onto the front page of a newspaper.
We offer clients assistance in crisis management, including developing a holistic strategy for ensuring consistency in responses across multi-forum legal proceedings, government affairs and public relations workstreams. This includes providing advice on communicating with stakeholders and customers, as well as managing the reputational impact of a bank failure. We have experience in coordinating with government agencies and industry groups to manage the fallout from a banking crisis. With our deep experience and industry knowledge, we are uniquely equipped to help clients manage regulatory risk and achieve their business objectives.
Our attorneys provide insightful guidance on receivership-related regulatory compliance, examination, and enforcement matters, helping clients navigate the intricate web of regulations and requirements that apply during a bank failure. We represent a diverse array of foreign and domestic financial institutions that have found themselves the targets of enforcement actions by federal and state regulators and of congressional inquiries. Our experience spans the lifecycle of enforcement, from responding to initial formal and informal requests for information through negotiating consent orders and compliance with consent orders. Our team includes leading practitioners with deep experience in banking, venture capital, and other relevant fields, allowing us to provide tailored guidance to our clients over the last two decades. We understand that bank failures can have far-reaching consequences, and we work closely with clients to anticipate and mitigate enforcement risks.
Even if investigations and litigation are not involved, navigating the occurrence, and aftermath, of a bank failure is tremendously challenging for companies simply trying to operate their businesses. Clients may have questions and concerns regarding their ability to access and manage assets, including credit lines, outstanding loans, letters of credit, and company deposits, as well as their obligations under such arrangements. Our transactional counseling team provides guidance to clients maneuvering through these complex issues, including advising on governance and compliance issues, disclosure-related obligations for public companies, wire transfer security-related issues, and other operational concerns including potential liability (corporate and individual) for late payment of wages and questions around furloughs and layoffs and related tax considerations. We work side-by-side with clients to assess risk management and mitigate potential exposure, particularly for emerging companies and venture capital clients who may hold significant uninsured deposits in a single bank. In addition, our M&A team includes lawyers who have worked on some of the most high profile transactions involving failed or distressed banking institutions, and routinely work with our regulatory team in a seamless, integrated manner on the most complex transactions in the financial services sector.
As the impact of the regional banking crisis continues to unfold, clients may face a range of complex legal challenges. One of the most significant concerns is litigation, which can arise from various factors such as bank runs or market disruptions, resulting in significant financial losses for investors. Clients may also face the risk of shareholder derivative lawsuits, where they are accused of failure to manage corporations properly. We offer strategic counsel to help our clients navigate the litigation process and mitigate potential legal exposure. At this critical juncture, clients need legal representation to defend their interests, navigate the litigation process, and protect themselves from liability. Our experienced litigators have a deep understanding of the legal issues that may arise in the aftermath of a bank crisis.