Brian Montgomery utilizes his background in financial services regulation to strategically advise businesses on regulatory compliance.

Brian’s in-house experience in financial regulation brings keen perspective and depth of understanding of client needs for compliance and program assessment.  

While at the New York Department of Financial Services, Brian served in several senior positions in the Consumer Protection and Financial Enforcement Division, including leading the Department’s program to examine regulated institutions for compliance with federal and state consumer financial laws. Brian also supervised a group that conducted investigations and brought enforcement actions involving consumer financial products and services.

Representative Experience

  • As Deputy Superintendent at the New York Department of Financial Services, oversaw consumer compliance and fair lending examinations of banks, non-depository lenders, loan servicers, credit reporting agencies, and other regulated institutions, as well as Community Reinvestment Act examinations. 
  • Brought first action by state banking regulator under Title X of Dodd-Frank, the Consumer Financial Protection Act, resulting in consent judgment with auto lender and its president.
  • Extensive experience collaborating with federal and state regulatory authorities including CFPB, Federal Reserve, FDIC, state banking regulators, and state attorneys general.

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  • Core member of the team that drafted the New York Financial Services Law and associated legislation that created the NYDFS by merging the Banking and Insurance Departments. Subsequently planned and coordinated the merger of the consumer protection functions of the former departments.
  • Drafted statute and implementing regulation that gave NYDFS supervisory authority over student loan servicers, and developed the NYDFS licensing and examination program for student loan servicers.
  • Supervised investigation of a significant data breach at a financial institution, resulting in a consent order. 
  • Led investigation of a major student loan servicer for unfair and deceptive practices that was resolved with a consent order.
  • Managed industry-wide investigation of force-placed insurance, which included holding public hearings and resulted in multiple settlements. Following conclusion of the investigation, drafted and promulgated regulation codifying key terms of settlements.  
  • Supervised investigations and enforcement actions involving a variety of consumer financial products and services, including mortgage, auto lending, unsecured consumer lending, and debt collection.
  • Crafted and implemented registration and examination program for credit reporting agencies.
  • Reached agreement with student loan servicing industry to provide relief for borrowers not covered by the CARES Act.
  • Reached agreement with credit reporting industry to support consumers impacted by the COVID-19 pandemic. 
  • Drafted and issued several industry letters, including letters concerning fair lending and the New York Community Reinvestment Act.
  • While serving at New York Attorney General’s Office, conducted investigations of several student lenders and universities, resulting in enforcement actions whose terms were subsequently codified in federal and state law.
  • Coordinated investigation of credit cards issued to college students, resulting in code of conduct agreed to by State University of New York system.

Professional Highlights

  • Served as adjunct professor at Cardozo Law school, teaching seminar on financial regulation.
  • Received Superintendent’s Award for outstanding performance at the New York Department of Financial Services.
  • Received Louis J. Lefkowitz Memorial Award for outstanding performance at the New York Attorney General’s Office.

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  • Frequent speaker at conferences on consumer financial services topics, including the consumer financial services enforcement panel at Practising Law Institute’s Banking Law Institute (2016, 2017, 2018, 2020).

Education

  • J.D., Lewis & Clark College Northwestern School of Law, 2006
    cum laude

    B.A., English, Colgate University, 1999

Admissions

  • New York