Michael Nonaka

About
Representative Matters
Credentials

About
Michael Nonaka is co-chair of the Financial Services Group and advises banks, financial services providers, fintech companies, and commercial companies on a broad range of compliance, enforcement, transactional, and legislative matters.

He specializes in providing advice relating to federal and state licensing and applications matters for banks and other financial institutions, the development of partnerships and platforms to provide innovative financial products and services, and a broad range of compliance areas such as anti-money laundering, financial privacy, cybersecurity, and consumer protection. He also works closely with banks and their directors and senior leadership teams on sensitive supervisory and strategic matters.

Mike plays an active role in the firm’s Fintech Initiative and works with a number of banks, lending companies, money transmitters, payments firms, technology companies, and service providers on innovative technologies such as bitcoin and other cryptocurrencies, blockchain, big data, cloud computing, same day payments, and online lending. He has assisted numerous banks and fintech companies with the launch of innovative deposit and loan products, technology services, and cryptocurrency-related products and services.

Mike 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.
Areas of Expertise

Regulatory and Public Policy

Data Privacy and Cybersecurity

Cybersecurity

Financial Privacy

Financial Services

Consumer Financial Services

Bank Regulatory Enforcement and Investigations

Blockchain Technology

Financial Services M&A and Capital Markets

Fintech

Metaverse

Artificial Intelligence
Practices and Industries
Representative Matters
- Representation of Citizens Financial Group in the reorganization and merger of its bank subsidiaries, Citizens Bank N.A. and Citizens Bank of Pennsylvania.
- Representation of the Bank Policy Institute on various comment letters and other advocacy efforts.
- Representation of General Electric and Synchrony Financial in connection with exchange offer to complete the separation of Synchrony from GE and in connection with Federal Reserve Board application process and approval required for the separation of Synchrony from GE.
- Representation of several Fortune 500 companies on big data, blockchain, and other fintech solutions.
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 WSFS Financial Corporation in acquisitions of First Wyoming Financial Corporation, Alliance Bancorp, Inc. of Pennsylvania, and Penn Liberty Financial Corp.

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 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 General Motors in congressional hearings and requests for government funding.

Representation of Freddie Mac in connection with establishment of Federal government conservatorship.
Areas of Expertise

Regulatory and Public Policy

Data Privacy and Cybersecurity

Cybersecurity

Financial Privacy

Financial Services

Consumer Financial Services

Bank Regulatory Enforcement and Investigations

Blockchain Technology

Financial Services M&A and Capital Markets

Fintech

Metaverse

Artificial Intelligence

Credentials

Education	University of Pennsylvania Law School, J.D., 2007 cum laude University of Pennsylvania Journal of Constitutional Law, Articles Editor The Wharton School, Certificate in Business and Public Policy College of William and Mary, B.B.A./B.A., 2004
Bar Admissions	District of Columbia Virginia
Pro Bono	Represent City First Enterprises and City First Bank of D.C., N.A. on bank regulation and corporate governance matters. Represented indigent Florida inmate in post-conviction proceedings in state and federal courts. Assisted the Washington Lawyers Committee in drafting and introducing legislation in the District of Columbia to reform certain aspects of the District’s parole and sentencing laws.
Accolades	Global Banking Regulation Review, "45 Under 45" (2020) Chambers USA, Financial Services Regulation: Banking (Compliance) (2022-2024) Chambers FinTech (2024) The National Law Journal, "Cryptocurrency, Blockchain, & Fintech Trailblazers" (2018) Law360, Banking "Rising Star" (2018) Legal 500 US, Finance - Financial Services Regulation (2017) and Technology: Data Protection and Privacy (2016)
Memberships and Affiliations	American Bar Association, Banking Law Committee

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Michael Nonaka

Michael Nonaka is co-chair of the Financial Services Group and advises banks, financial services providers, fintech companies, and commercial companies on a broad range of compliance, enforcement, transactional, and legislative matters.

Areas of Expertise

Areas of Expertise

Areas of Expertise

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