Brian H. Montgomery

Prior to joining the firm, Brian served in several senior positions at the New York Department of Financial Services, including leading the department’s bank compliance examinations and supervising investigations and enforcement actions. Brian was also a core member of the team that drafted the legislation that created the New York Department of Financial Services (NYDFS) and stood up the agency.

• Private Practice Experience
  • Represented Vitesse PSP Ltd. and Vitesse Trust Company in securing approval from the NYDFS to charter Vitesse Trust Company as a limited purpose trust company.
  • Represents banks in regulatory analysis of fintech partnerships and application of state lending and licensing requirements.
  • Represents banks and regulated non-bank financial institutions in connection with mergers and acquisitions, including preparing applications and obtaining required change in control approvals.
  • Advises banks and bank holding companies in connection with control and permissibility analyses.
  • Represents foreign banks in regulatory matters relating to the provision of cross-border banking services to U.S. customers.
  • Represents companies and organizers in de novo bank charter applications and state licensing applications.
  • Advises banks on compliance with Office of the Comptroller of the Currency (OCC) and Federal Financial Institutions Examination Council (FFIEC) requirements for third-party risk management and technology service providers.
  • Advises financial institutions on U.S. financial services regulators’ cybersecurity regulations and guidance.
  • Represents companies offering earned wage access products on the application of CFPB guidance, TILA/Regulation Z, and state laws and regulations.
  • Represents payments and digital assets companies in state digital assets and money transmission licensing, analysis of new product launches, and ongoing regulatory compliance matters.
  • Provided guidance, in conjunction with Tokyo-based law firm, City-Yuwa, to the Japanese Financial Services Agency (FSA) regarding how to appropriately regulate the trading of stablecoins in Japan under the country’s amended Payment Services Act.
• Government Experience
  • 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.
  • Served on the Virtual Currency Licensing Committee at the NYDFS.
  • 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.
  • Drafted statute and implementing regulation that gave the 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.

• 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.
• 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).

• Speaking Engagements

  • “New NYDFS Cybersecurity Requirements for Third-Party Service Providers,“ Webinar, April 8, 2026.
  • "Overview and Recommendations for DFS and Federal Climate Risk Guidance,” NYBA Academy, March 6, 2024.
  • "Regulating Earned Wage Access (EWA),” 2023 Innovative Payments Association (IPA) Compliance Boot Camp, Chicago, IL, Sept. 12, 2023.
  • “What Bank Executives Need to Know about the New CRA Rules" California Bankers Association, May 2023.
  • “Applying a Compliance Framework: New York DFS Cyber Requirements and How It Relates to Other Industries," Ankura and the Johns Hopkins University Information Security Institute 9th Annual Cybersecurity Conference for Executives, Baltimore, MD, April 18, 2023.
  • “Intersections in Financial Services Regulation: BSA/Fraud and Consumer Compliance,” New York City Bar Association’s Consumer Affairs and Compliance Committee Virtual Panel, March 9, 2023.
  • “The Crypto Universe: From A-Z,” Innovative Payments Association (IPA) Member Meeting, Washington, DC, Jan. 18, 2023.
  • San Francisco Bank Attorneys Association, “Examination of the Past, Present and Future of Overdraft Fees and Related Charges,” Oct. 17, 2022.
  • “2022 Compliance Boot Camp,” Innovative Payments Association, Sept. 29, 2022.
  • “Community Reinvestment Act Overhaul and New Small Business Lending Data Requirements,” New York Bankers Association Retail & Small Business + Trust & Investment Conference, Sept. 15, 2022.
  • “Taking the Temperature in DC: The Shifting Regulatory Winds,” Innovative Payments Association Annual Conference, April 14, 2022.
  • “8th Annual Cybersecurity Conference for Executives,” Ankura and the Johns Hopkins University Information Security Institute, Virtual Conference, March 16, 2022.
  • “2022 Regulatory Compliance Update for Community Banks,” Independent Bankers Association of New York State Webinar, Feb. 8, 2022.
  • “What’s on the Small Business Lending Horizon: Key Anticipated Regulation and Enforcement Trends,” Webinar, Sept. 16, 2021.
  • “Implementing a Compliant Cybersecurity Program,” Webinar, Sept. 15, 2021.
  • “Current Landscape of Cybersecurity Enforcement, Compliance and Insurance,” Webinar, April 27, 2021.
• External Publications
  • Prepping for Fair Lending Exams Amid NY Enforcement Trend, Law 360, Oct. 25, 2022. Author.
  • Data as Sword and Shield: Big Data in Consumer Finance & Securities, Henry Stewart Production, Sept. 12, 2022. Coauthor.
• Firm Publications
  • New York Finalizes Disclosure Requirements for Commercial Financing Transactions, Feb. 10, 2023. Author.
  • What to Expect from the New York Department of Financial Services in 2023, Feb. 1, 2023. Coauthor.
  • New CA Commercial Financing Disclosure Regulations Take Effect, Dec. 9, 2022. Author.
  • New York Department of Financial Services Rule Will Require Banks to Collect Demographic Data with Commercial Credit Applications, Nov. 11, 2022. Author.
  • NYDFS Continues Series of Fair Lending Enforcement Actions against New York State-Chartered Banks, Oct. 18, 2022. Author.
  • Federal Banking Regulators Propose Overhaul of Community Reinvestment Act, May 6, 2022. Coauthor.
  • New York to Require Crypto Companies to Pay Assessment Fees, April 15, 2022. Coauthor.
  • Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers, Dec. 1, 2021. Coauthor.
  • Senate Confirms Rohit Chopra as CFPB Director, Oct. 1, 2021. Coauthor.
  • Congress Moves to Repeal OCC’s “True Lender” Rule (Updated), May 20, 2021. Coauthor.
  • New York Enacts Novel Disclosure Requirements for Commercial Financing Transactions, Feb. 16, 2021. Coauthor.
• Blog Posts
  • “Regulators Zero In on AI,” Pillsbury’s Internet + Social Media, June 21, 2022. Coauthor.
  • “New York Legislature Passes Moratorium on Crypto Mining Operations,” Pillsbury’s Internet + Social Media, June 16, 2022. Author.
  • “Artificial Intelligence and Regulatory Compliance,” Pillsbury’s Internet + Social Media, Dec. 16, 2021. Author.
  • "Chairman of the Senate Committee on Banking, Housing and Urban Affairs Calls for CFPB Investigation into Tenant Screening Businesses,” Pillsbury’s Gravel2Gavel, Nov. 17, 2021. Author.
  • "Operating an Adult-Use Cannabis Business in New York: Licensing and Considerations for Landlords and Tenants,” Pillsbury’s Gravel2Gavel, Sept. 8, 2021. Coauthor.