Financial Regulation

Fiduciary Rule Update - Podcast

Labor & Employment Law Practice Group Podcast
Jason Mendro September 04, 2017

On April 8, 2016, the Department of Labor (DOL) published the Fiduciary Rule, which greatly expanded the universe of entities and persons that DOL deems to be fiduciaries with respect to retirement plans under the Employment Retirement Income Security Act of 1974 and with respect to Individual Retirement Accounts under the Internal Revenue Code. The Rule was originally scheduled to become applicable on April 10, 2017. However, in February of 2017, President Trump issued a memorandum directing DOL to reexamine the Rule to consider whether it would reduce access to investment services or increase litigation. Two months later, shortly before the April deadline, DOL extended the applicability date of some of the Rule’s requirements until June 7, 2017 and others until January 1, 2018. Then, in July of this year, DOL invited public comments on possible changes to the Rule and on whether the January 1 deadlines should be extended further. In the meantime, litigation has been waged over the Fiduciary Rule’s legality.

Jason Mendro, Partner at Gibson Dunn, discussed the past, present, and future status of the Fiduciary Rule


  • Jason Mendro, Partner, Gibson, Dunn & Crutcher 

Heimlich Maneuver on Operation Choke Point?

Free Lunch Podcast featuring Pete Patterson
Pete Patterson, Devon Westhill August 28, 2017

On August 16, the Department of Justice issued a letter repudiating the Department’s participation in an initiative known as “Operation Choke Point” during the Obama administration. Operation Choke Point sought to deprive members of disfavored industries, such as payday lenders and firearms dealers, of the right to access the banking system. The call will discuss Operation Choke Point, the Department of Justice Letter, and litigation against federal agencies who have participated in Operation Choke Point.


  • Pete Patterson, Partner, Cooper & Kirk, PLLC

The Future of Fintech Regulation - Podcast

Financial Services & E-Commerce Practice Group Podcast
Brian Knight, John W. Ryan, Wayne A. Abernathy August 07, 2017

Technology is having a significant impact on how financial services are being delivered. The rise of non-bank financial firms using the internet as a means of distribution is calling into question the divide between state and federal regulation and the definition of what a “bank” is. The Office of the Comptroller of the Currency has responded by offering a new banking charter for non-depository fintech firms, while the states have filed law suits to prevent what they see as an illegal overreach by the OCC into their jurisdiction. How fintech firms are regulated, and by whom, could have a significant impact on how innovative, accessible, and inclusive financial services are in the future.


  • Brian Knight, Senior Research Fellow, Financial Markets Working Group, Mercatus Center, George Mason University
  • John W. Ryan, President and Chief Executive Officer, Conference of State Bank Supervisors
  • Moderator: Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association