Jean Veta is a partner whose litigation and regulatory practice focuses on civil and regulatory enforcement matters, government investigations, internal corporate investigations, and congressional investigations, primarily on behalf of financial institutions and their officers and directors. Ms. Veta has served as chair of the firm's Financial Institutions practice group and is recognized by Chambers USA as a leader in the field of Financial Services Enforcement and Investigations and in Best Lawyers in America for banking law. She was a finalist for Regulatory Lawyer of the Year at the 2012 Chambers USA Women in Law awards. Ms. Veta is also listed as one of Washington's Super Lawyers in white collar criminal defense, and is recommended by The Legal 500 US for SEC investigations and financial services regulatory enforcement actions. Her practice includes the representation of clients on a broad array of regulatory enforcement matters, including anti-money laundering, lending discrimination, safety and soundness, and other government investigations. Prior to rejoining Covington in 2001, Ms. Veta was Deputy Associate Attorney General at the United States Department of Justice, where she was responsible for a wide range of legal and policy issues.
Representative Matters
· Representing the former CEO of IndyMac Bancorp in matters arising out of the failure of IndyMac Bank, including in an SEC lawsuit and other governmental inquiries, purported securities class action lawsuits, mortgage-backed securities cases, and purported ERISA class action lawsuits.
· Representing the independent consultant, Treliant Risk Advisors LLC, in conducting a required independent review of a financial firm's mortgage foreclosure practices.
· Representing former directors and officers of three affiliated failed banks in successfully resolving claims asserted by the FDIC as receiver for the banks.
· Representing Representing Wells Fargo in connection with a Federal Reserve Board investigation and consent order with respect to alleged falsification of customer income and customer steering by Wells Fargo Financial sales personnel in the origination of consumer mortgage loans.
· Representing Freddie Mac in connection with establishment of Federal government conservatorship.
· Representing financial institutions and their officers and directors in defending against proposed and/or actual civil money penalties, prohibition orders, consent orders, and formal agreements concerning such issues as alleged call report violations, violations of fiduciary duties, consumer compliance issues, brokered deposit issues, loan loss reserves, and other safety and soundness issues.
· Representing financial institutions in enforcement inquiries regarding lending discrimination issues brought by the U.S. Department of Justice and the federal bank regulators.
· Representing financial institutions on anti-money laundering inquiries involving the U.S. Departments of Justice and Treasury (FinCEN) and the federal bank regulators.
· Representing financial institutions in conducting internal investigations on compliance with safety and soundness issues, internal controls, and domestic and foreign anti-money laundering laws.
· Representing a major bank in conducting an independent investigation requested by the bank's federal regulator regarding potential criminal violations.
· Representing the former Sterling Financial Corporation (now a part of The PNC Financial Services Group, Inc.) in consolidated securities class action litigation, as well as inquiries by the SEC and the U.S. Attorney's Office, concerning a massive fraud at a Sterling subsidiary that resulted in the restatement of Sterling's financial statements.
· Representing Freddie Mac in SEC and OFHEO government inquiries and civil litigation related to its $5 billion restatement of earnings.
· Representing a client in inquiries by the Federal Trade Commission and various state attorneys general regarding one of the five largest data security breaches reported in the world in 2007.
· Representing a financial institution in a False Claims Act investigation by the U.S. Small Business Administration.
Enforcement Actions
· Representing a senior bank officer in OTS enforcement actions regarding lending practices and other safety and soundness issues (cease & desist order, civil money penalties; request for prohibition order withdrawn).
· Representing five affiliated banks in FDIC enforcement actions regarding safety and soundness issues.
· Representing a national bank and its holding company in OCC and FRB enforcement actions and prompt corrective action issues.
· Representing two former national bank officers in formal OCC enforcement actions regarding loan underwriting and related safety and soundness issues.
· Representing a thrift institution in resolving, without formal action being taken, OTS investigation regarding alleged misrepresentations and compliance with the institution's business plan.
Lending Discrimination
· Representing a bank in inquiries by the Federal Reserve Board and, subsequently, the U.S. Department of Justice regarding alleged pricing discrimination.
· Representing a bank in successfully resolving an FDIC inquiry regarding alleged pricing discrimination.
· Representing financial institutions in U.S. Department of Justice inquiries resulting from regulatory referrals.
· Representing financial institutions on fair lending compliance inquiries by the federal bank regulators, including with respect to recent HMDA data issues.
· Representing banking organizations in defending against merger application protests brought before the Federal Reserve and the OCC involving fair lending and CRA issues.
Anti-Money Laundering
· Representing directors and shareholders of a foreign bank designated as an institution of primary money laundering concern by the U.S. Treasury Department.
· Representing in criminal money laundering investigations a senior officer of a foreign bank subject to US jurisdiction.
· Representing financial institutions in conducting internal investigations on compliance with domestic and foreign anti-money laundering laws.
Previous Experience
· Deputy Associate Attorney General, United States Department of Justice (2000-2001)
· Deputy General Counsel, United States Department of Education (1998-2000)
Honors and Rankings
· Recognized By Chambers USA as a finalist for "Regulatory Lawyer of the Year" at the 2012 Chambers USA Women in Law awards.
· Recognized by Chambers USA as a leader in the field of Financial Services/Regulatory Enforcement and Investigations (2006-2011).
· Recognized in Best Lawyers in America for Banking and Finance Law (2008-2012); Financial Services Regulation Law (2012); and Litigation - Banking & Finance (2012).
· Recognized by the Washingtonian as a "Best Lawyer" in the field of Financial Services (2009, 2011).
· Recognized by Washington, DC Super Lawyers as one of the top lawyers in white collar criminal defense (2007, 2010-2012).
· Recognized by The Legal 500 US as a leader in the field of SEC investigations and enforcement actions (2007, 2010) and financial services regulatory enforcement actions (2011).
Pro Bono
· Representing civil rights organizations, an interfaith group of clergy, and four same-sex couples in successfully opposing, as amicus curiae, a Washington DC ballot initiative, which sought to rescind DC's recently enacted legislation recognizing same-sex marriages.
· Representing several social scientists in submitting a "friend of the court" brief in support of soldiers challenging the legality of the military's "Don't Ask, Don't Tell" policy.
Memberships and Affiliations
· American Bar Association Section of Litigation, Co-Chair of the Section's Annual Conference; held various other positions in the Section's leadership over a number of years.
· Tulane Law School, Dean's Advisory Board (2006-present)
· Tulane Law Review, Board of Advisory Editors (1992-present)
Publications
· "Fair Lending Compliance After the Countrywide Settlement," Covington Advisory (1/23/2012), Co-Author
· "Legal Issues Raised by Recess Appointment of Director of Consumer Financial Protection Bureau," Covington Advisory (1/5/2012), Co-Author
· "What Directors and Officers at Failed Banks Should Know," Bank Director (June 2011), Co-Author
· "FinCEN Issues Proposed Regulations Implementing Iran Sanctions Legislation," Covington E-Alert (5/6/2011), Co-Author
· "Congressional Investigations: Bank of America and Recent Developments in Attorney-Client Privilege," Bloomberg Law Reports (12/6/2010), Co-Author
· "Assistant Attorney General Lanny A. Breuer Outlines Aggressive New Efforts to Prosecute Banks," Covington E-Alert (10/20/2010), Co-Author
· "FDIC Issues Proposed Policy Statement On Qualifications For Failed Bank Acquisitions," Covington E-Alert (7/2/2009), Co-Author
· "Legal Issues Affecting Directors and Officers of Troubled Banks," Covington Report (July 2009), Co-Author
· "The Supreme Court's Cuomo Decision," Covington E-Alert (6/29/2009), Co-Author
· "New Credit Card Legislation," Covington E-Alert (5/21/2009), Co-Author
· "Legal Issues Affecting Directors And Officers Of Failed Banks," Covington Report (May 2009), Co-Author
· "SIGTARP Issues Quarterly Report to Congress," Covington E-Alert (4/23/2009), Co-Author
· "Obama Administration Unveils Housing Support and Foreclosure Mitigation Plan," Covington E-Alert (2/18/2009), Co-Author
· "Failing Financial Institution Opportunities," Covington E-Alert (12/1/2008), Co-Author
· "FDIC Issues Final Rule Implementing the Temporary Liquidity Guarantee Program," Covington E-Alert (11/24/2008), Co-Author
· "Agencies and Enterprises Announce Program to Prevent Foreclosures," Covington E-Alert (11/12/2008), Co-Author
· "Congress Passes Omnibus Financial Recovery," Covington E-Alert (10/3/2008), Co-Author
· "Private Equity Investments in Financial Institutions Part II - The Federal Reserve Issues Policy Statement," Covington E-Alert (9/23/2008), Co-Author
· "Federal Bank Regulators Turn Up the Heat: Responding to Enforcement Actions," Covington E-Alert (July 2008), Co-Author
· "Private Equity Investments in Financial Institutions," Covington E-Alert (6/12/2008), Co-Author
· "BSA/AML Regulatory Alert," Covington E-Alert (5/8/2006), Co-Author
· "BSA/AML Regulatory Alert," Covington E-Alert (1/5/2006), Co-Author
· "Network and Information Security: Domestic and International Initiatives to Combat Cybercrime," Internet Law & Business (January 2003), Author
· "Is Your Company Protected?," Cyberspace Lawyer (July/August 2002), Co-Author
· "Congressional testimony on cyber-jurisdiction issues," Subcommittee on the Courts and Intellectual Property, Committee on the Judiciary, US House of Representatives (6/29/2000)
Presentations and Speeches
· "Regulation of Systemically Important Nonbank Financial Institutions," International Monetary Fund Restoring Financial Stability - The Legal Response Seminar (12/2/2009)
· "Aftermath of the Financial Crisis: Enforcement Actions Under the Obama Administration," Covington Client Teleconference (2009)
· "Anti-Money Laundering Issues from Soup to Nuts," New Jersey Bankers Assn Seminar (2009)
· "The FDIC and the New Banking Crisis: Managing Enforcement Actions," CLE Banking Conference (2009)
· "The Financial Crisis: Hot Topics in Government Investigations and Litigation," ABA Section of Litigation Annual Conference (2009)
· "Exploring Potential Missteps When Investigating Misconduct," Internal & Government Investigations Conference (January 2008)
· "Ethical Issues: 40 Solutions for Litigators - Videotape/DVD," ABA Section of Litigation (2005)
· "Electronic Evidence: Getting It, Producing It, And Using It At Trial," ABA Section of Litigation and the ABA Center for Continuing Legal Education, Nationwide Teleconference (May 2004)
· "Avoiding Potholes: Discovery and Ethics on the Highway to Trial," ABA Section of the Litigation Annual Conference (May 2004)
· "A Non-Techie's Primer on Understanding & Obtaining Electronic Evidence," ABA Annual Meeting (August 2003)
· "Conducting Internal Securities Investigations," ABA Section of Litigation (April 2003)
· "53 Ways to a Better Litigation Practice - Videotape," ABA Section of Litigation (2002)
· "73 Ways to Win - Videotape," ABA Section of Litigation (2001)