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Michael Nonaka
Michael Nonaka
Partner
Washington +1 202 662 5727 mnonaka@cov.com Download V-card

Michael Nonaka advises banks, financial services providers, and non-bank companies on a broad range of compliance, enforcement, transactional, and legislative matters. He has worked extensively with federal and state banking agencies and with other federal agencies authorized to regulate financial services. 

Mr. Nonaka has significant experience advising clients on issues arising under financial services legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act. He has advised clients on, among other areas in Dodd-Frank, regulation as a systemically important financial institution, resolution planning, the Federal Deposit Insurance Corporation’s orderly liquidation authority under Title II, and the scope of the Consumer Financial Protection Bureau’s authority.

Mr. Nonaka also has advised a number of clients on compliance with TILA, ECOA, TISA, HMDA, FCRA, EFTA, GLBA, FDCPA, CRA, BSA, USA PATRIOT Act, FTC Act, Reg. K, Reg. O, Reg. W, Reg. Y, state money transmitter laws, state licensed lender laws, state unclaimed property laws, state prepaid access laws, and other federal and state laws and regulations.

  • Representation of Synchrony Financial (GE Capital’s North American retail finance business) in connection with its approximately $2.95 billion initial public offering and related $3.6 billion debt offering.
  • Representation of Cole Taylor Bank in investigation and consent cease & desist/civil money penalty order with the Federal Reserve Board and the Illinois state banking authority to resolve claims alleging unfair and deceptive practices related to a student deposit product offered in connection with a former counterparty deemed to be an “institution-affiliated party.”
  • Representation of WSFS Financial Corporation in acquisition of First Wyoming Financial Corporation and The First National Bank of Wyoming.
  • Representation of Wells Fargo in connection with a Federal Reserve Board investigation and consent order with respect to alleged falsification of customer income and customer steering by Wells Fargo Financial sales personnel in the origination of consumer mortgage loans.
  • Representation of General Motors in congressional hearings and requests for government funding.
  • Representation of Freddie Mac in connection with establishment of Federal government conservatorship.
  • Representation of Citigroup, Inc. and Citibank, NA, in connection with negotiation and implementation of OCC and Federal Reserve Board consent orders relating to consumer mortgage servicing and foreclosure activities.
  • Representation of banks and non-banks on anti-money laundering compliance matters.
  • Representation of Arlon Capital Partners LP in connection with investments in Grandpoint Capital, Inc. and Carlile Bancshares, Inc.
  • Representation of financial services company in merger and acquisition transactions with respect to financial privacy and data security.
  • Representation of national banks, savings associations, and other depository institutions in de novo and merger applications before the Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Deposit Insurance Corporation, and Federal Reserve.
  • Representation of financial institutions and their officers and directors in defending against civil money penalties, cease and desist orders, and formal agreements.
  • Representation of financial institutions with respect to proposed banking and financial services legislation.