Profile details
About David Sewell
David Sewell is a financial services regulatory lawyer advising banks, nonbank financial institutions, and fintech companies of varying sizes and profiles, from global investment banks and technology companies to early stage and emerging ventures.
David assists clients at every stage of the regulatory lifecycle, including:
- handling charter and licensing matters involving state and federal regulatory agencies;
- advising on compliance with Federal Reserve, OCC, FDIC, and Treasury Department regulations, including with respect to the Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations as well as trade and economic sanctions programs administered by the Office of Foreign Assets Control (OFAC);
- supporting significant transactions involving financial institutions and fintech companies at all stages of maturity;
- providing representation before the Federal Reserve, OCC, FDIC, NYDFS, Treasury Department, and OFAC concerning investments, transactions, business activities, and supervisory or enforcement matters; and
- in his fintech practice, advising on the applicability and scope of financial services laws to innovative financial products and business models
David previously served as counsel and assistant vice president at the Federal Reserve Bank of New York (FRBNY), where he handled a wide variety of bank regulatory issues, supervisory matters, and enforcement actions which included significant actions the FRBNY brought against banking organizations with respect to BSA/AML, U.S. sanctions violations and compliance deficiencies. He also worked in a senior role within the regulatory relations organization of JPMorgan Chase, where led a team that served as the chief point of contact for U.S. banking and securities regulators. He began his legal career as a law clerk to Judge Gladys Kessler, U.S. District Court for the District of Columbia.
Recent work
- Representing Western Alliance Bancorporation before the Office of the Comptroller of the Currency in formation and licensing matters relating to Western Alliance Trust Company, NA
- Counseling Citibank, NA and Anchorage Digital Bank, N.A. on OCC matters.
- Advising Silvergate Bank in connection with its voluntary liquidation.
- Assisting the financial services divisions of global technology companies in developing payments and lending products.
- Advising neobanks and payments companies regarding partnership and banking-as-a-service (“BaaS”) arrangements
- Representing Polysign Inc. in its indirect acquisition by TD Bank.
- Assisting Google in advocacy before various regulatory authorities regarding the use of artificial intelligence in financial services.
- Advising Lloyds Bank Capital Markets, New York Branch in Federal Reserve reporting matters.
- Assisting Erste Group Bank, New York Branch with U.S. regulatory compliance matters.
- Representing a large regional bank before OFAC in voluntary self-disclosure and associated subpoena responses.Working with various digital asset and Web3 services providers (including custodians, exchanges, and marketplaces) in developing or refining Bank Secrecy Act, sanctions, and consumer compliance policies and programs.
Qualifications
Education
- Georgetown University Law Center, J.D. magna cum laude, 2005 (Order of the Coif; Executive Board Member, Senior Book Reviews and Essays Editor, Georgetown Law Journal)
- Columbia University, M.A., History, 1998
- Wesleyan University, B.A., History with high honors, 1996
Professional Memberships
- American Bar Association, Banking Law Committee
- New York City Bar Association, Banking Law Committee.
- Certified Anti-Money Laundering Specialist (CAMS)
Bar Admissions
- New York