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Joseph T. Lynyak, III
Joe Lynyak is a partner in the law firm’s Financial Services practice, and is resident in its Washington, DC, and Los Angeles, California offices. He focuses his practice on the regulation and operation of FDIC-insured institutions and related financial service intermediaries.
Mr. Lynyak possesses a broad knowledge base regarding foreign and domestic banks, savings associations, bank and savings and loan holding companies, finance companies, mortgage banking companies and their subsidiaries and affiliates. His practice includes providing financial intermediaries advice in the areas of strategic planning, application and licensing, legislative strategy, commercial and consumer lending, examination, supervision and enforcement, and general corporate matters.
Mr. Lynyak’s FDIC-insured financial institution clients benefit from his experience in the special state and federal statutory and regulatory requirements--including safety and soundness issues--that apply to regulated financial intermediaries. He regularly counsels clients on matters such as retail lending, privacy, identity theft, consumer compliance, application and underwriting, payments systems, Internet, electronic commerce, examination, supervision and enforcement, operational and strategic planning matters. Mr. Lynyak is a frequent lecturer on legal topics involving the operation and regulation of financial service companies.
Following a judicial clerkship, Mr. Lynyak participated in the FDIC’s Honors Program in Banking Law in Washington, D.C. Further, for over two decades, he has served in various positions for the national and local chapters of United Cerebral Palsy, and currently is a director for the Cerebral Palsy International Research Foundation.
Mr. Lynyak’s financial services experience includes, but is not limited to, the following:
Commercial Lending. Mr. Lynyak is an expert in commercial lending, and advises clients throughout the U.S. in regard to licensing, structures and operational considerations. Among other things, he regularly works with large and small portfolio lenders, structured finance entities and factoring companies. He currently serves as the Chair of the American Bar Association's Banking Law Subcommittee for Commercial and Real Estate Lending.
Financial Service Regulatory Advice. Mr. Lynyak represents clients in matters before the OCC, the Federal Reserve Board, the FDIC, the FTC and comparable state financial institution agencies. His practice includes the organization, licensing and operation of insured institutions, as well as holding companies, subsidiaries and affiliates. He counsels clients on the inter-relationships among federal and state statutes and regulations, including the Dodd-Frank Act, the National Bank Act, the Home Owners’ Loan Act, the Gramm-Leach-Bliley Act, the Sarbanes-Oxley Act, the federal Bank and Savings and Loan Holding Company Acts and similar laws and regulations. Additionally, Mr. Lynyak represents foreign banks operating in the United States, and provides regulatory and compliance advice to representative, agency and branch offices, including interfacing with the Federal Reserve Board during the examination process.
Compliance and Enforcement. Mr. Lynyak advises clients on numerous compliance issues, such as the examination, supervision and enforcement for financial intermediaries, with particular emphasis on the implementation of the expansive authority granted to regulatory agencies pursuant to the Dodd-Frank Act. He regularly assists clients by providing advice during the examination process, conducting independent investigations, and representing institutions and their affiliated parties in enforcement actions, including administrative hearings, the negotiation of cease and desist orders, and civil money penalties.
Retail Financial Operations. In the retail financial service sector, Mr. Lynyak regularly provides advice regarding the Consumer Financial Protection Bureau and its Regulations B, C, E, Z, CC and DD, among others, special statutes applicable to mortgage lenders such as RESPA, the Fair Credit Reporting Act and the Fair Housing Act, as well as comparable state statutory and regulatory requirements. Among other things, Mr. Lynyak also has extensive experience in the complex area of fair lending.
Mortgage Lending. Mr. Lynyak advises financial institutions and mortgage bankers on compliance matters with respect to federal consumer mortgage protection statutes and implementing regulations, such as the Truth-in-Lending Act, the Real Estate Settlement Procedures Act, the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, the Community Reinvestment Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, as well with the statutes and regulations of all 50 states dealing with residential mortgage lending, including, and the licensing and regulation of mortgage lenders and servicers.
GSE Representation. For more than 20 years, Mr. Lynyak has worked with both of the mortgage GSEs, as well as several of the Federal Home Loan Banks. As such, he possesses an in-depth understanding of the legal issues presented by these federally chartered entities. Among other things, Mr. Lynyak is very familiar with Charter Act issues and evolving Federal Housing Finance Agency examination and supervision concerns, including housing goal requirements, electronic underwriting systems and reputational legal concerns.
Litigation. Mr. Lynyak has participated in the defense of lending class actions for financial intermediaries in the retail financial service arena. Among other things, he defends financial intermediaries in a variety of administrative litigation, including the defense of fair lending allegations. Further, he coordinates national and local defense strategies for clients, and frequently works with other law firms in those efforts.
Innovative and Emerging Delivery Systems. Mr. Lynyak counsels clients on the legal issues presented by the emerging alternative payment and product delivery systems. His practice includes advising clients regarding interstate lending and deposit concerns, electronic underwriting systems, interstate licensing, Internet payment alternatives and similar electronic media legal issues.
Legislation. Throughout his career, Mr. Lynyak has participated in numerous legislative initiatives for both clients and the financial services industry as a whole, including the analysis of proposed federal and state legislation, the negotiation of proposed solutions with consumer groups, trade associations and lobbyists, and similar activities.
ABA - Banking Law Committee; chair of the Banking Law Committee’s Subcommittee on Commercial and Real Estate Finance; ABA - past chair of its Retail Subcommittee; ABA – past chair of its Subcommittee on FDIC Receiverships and Conservatorships; ABA – past chair of its Task Force on Derivatives; ABA - Consumer Financial Services Committee; Mortgage Bankers Association; and the California Mortgage Bankers Association; member of the Board of Regents of the American College of Consumer Financial Services Lawyers