David Sewell
About
David is a financial services lawyer advising banks, nonbank financial institutions, direct lenders, and payments and fintech companies on federal and state financial services law and regulation. He also has substantial experience advising financial institutions and others regarding the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations, as well as compliance with sanctions programs administered by OFAC.
David’s practice includes:
- Advising on the applicability and scope of financial services laws to innovative financial products and business models;
- Handling charter and licensing matters involving state and federal regulatory agencies;
- Supporting transactions involving financial institutions and fintech companies at all stages of maturity;
- Representing clients before the Federal Reserve, OCC, FDIC, NYDFS, Treasury Department, OFAC, and various state agencies concerning examinations, transactions, business activities, and supervisory or enforcement matters;
- Advising on product development and financial services regulatory compliance, including with, among others, Federal Reserve Regulations K, W, and Y.
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 during and after the global financial crisis of 2008. Before attending law school, he served in a variety of roles in the federal government, including as a senior congressional aide and, during the Clinton administration, on the White House Domestic Policy Council staff.
- Representing NEC Corporation in its indirect acquisition of CSG Forte Payments Inc., including in 45+ regulatory approval processes
- Representing Western Alliance Bancorporation in the formation and chartering of Western Alliance Trust Company, NA
- Representing Deutsche Bank, Erste Group Bank, Lloyds Bank Capital Markets, and SMBC in minority investments in the United States and associated Federal Reserve reporting
- Assisting a global credit card network with the development of a cross-border payments/reimbursement product for small and medium-sized enterprises
- Advising neobanks and payments companies regarding payments products and banking-as-a-service (“BaaS”) arrangements
- advising a global technology company on regulatory relations and exam management in its role as a service provider to banking organizations
- Advising a global e-commerce platform on regulatory issues associated with its acquisition of Goldin Auctions LLC and ongoing commercial relationships for payments services and prepaid access/stored value products
- Assisting various participants in the cryptocurrency, digital asset, and Web3 space with state money transmitter regulatory, licensing, and transactional issues, including custodians and exchanges (e.g., Coinbase, NYDIG), and infrastructure providers (e.g., Polysign)
- Representing Polysign in its indirect acquisition by TD Bank
Over the course of his career, David has represented, among others: Amazon, American Express, Citibank, Coinbase, Goldman Sachs, Google, Mastercard, Microsoft, TD Bank, USAA, KeyBank, Scotiabank, MUFG, Lloyds Banking Group, and Société Générale.
David Sewell
3 World Trade Center
175 Greenwich Street, 51st Floor
New York, NY 10007