Practice Areas & Industries: Fredrikson & Byron, P.A.

Practice/Industry Group Overview

Responsive Legal Services for Financial Institutions

More than 20 Fredrikson & Byron attorneys and paralegals comprise the firm's Bank & Finance Practice Group. To serve the diverse needs of our financial services clients, our attorneys have skills and experience in mergers and acquisitions, finance, enforcement and regulatory issues, securities, insurance, tax, corporate, estate planning, real estate, bankruptcy, employment law, antitrust, and litigation.

"The Group’s entrepreneurial lawyers understand how to combine law and business for great solutions."

With enactment of Gramm-Leach-Bliley in 1999, the barriers among banks, securities firms, insurance companies, and other financial services organizations have crumbled, providing new business opportunities in the financial services area. Along with these opportunities have come new challenges such as consumer privacy, multiple layers of regulatory oversight, and additional state and federal regulations.

Fredrikson & Byron's Bank & Finance Practice Group is well positioned to meet these opportunities and challenges. The group's entrepreneurial lawyers understand how to combine law and business for great solutions. Since 1948, Fredrikson & Byron clients have valued our role as business advisors as well as our legal skills. Fredrikson & Byron is the firm where law and business meet.

The Principal Components of Fredrikson & Byron's Bank & Finance Practice Group are: Mergers and Acquisitions, New Charters, and Related Expansions

By assisting clients in numerous transactions, we have in-depth knowledge of the techniques and issues involved in mergers and acquisitions, including related regulatory and tax issues. We have worked with clients organizing and chartering new institutions, completing conversions, forming financial holding companies and thrift and bank holding companies, and establishing branches. Additionally, we have helped them start and expand insurance, broker/dealer, trust, and other nonbanking activities. We have expertise in advising clients on what structure to use to pursue expansion (e.g., financial holding company, bank holding company, financial subsidiary, etc.), negotiating and drafting documents, and preparing regulatory applications.

Finance

We work with clients in a wide range of secured and unsecured loan transactions and other credit transactions, including participation arrangements. We have extensive experience with new and creative financing techniques such as asset securitizations and trust originated preferred securities. Firm attorneys additionally concentrate on securities offerings, debt restructuring, and loan work-outs.

Regulatory Issues

We provide advice and guidance to financial institutions on the numerous federal and state laws and regulations that govern financial institutions and their management. Our group has extensive experience with safety and soundness as well as consumer laws, and the agencies' enforcement of those laws through the examination process. We counsel clients on compliance issues and help address examination issues and findings. We have worked with clients to develop privacy policies and compliance programs under Gramm-Leach-Bliley and to address Internet banking issues.

Enforcement Actions, Financially Troubled Institutions, and FDIC Receivership

The federal and state agencies that oversee financial institutions have extensive powers to compel action by and impose sanctions and penalties against institutions, their officers and directors, and other related parties. Fredrikson & Byron's Bank & Finance Group, which includes an attorney who formerly pursued enforcement actions on behalf of a federal banking regulator, counsels clients on how to avoid and respond to cease and desist actions, civil money penalties, and removal actions. The firm negotiates settlements and, if necessary, defends institutions and their management in administrative proceedings.

We also help financially troubled institutions deal with prompt corrective action proceedings and develop and implement capital and management plans. We counsel clients on liquidity issues, funding from the Federal Reserve's Discount Window, and compliance with the myriad laws that govern and restrict institutions that are in a troubled condition.

We have represented financial institutions, corporations, and others with respect to issues that arise if a financial institution becomes insolvent and is closed by the regulators, and issues related to the FDIC's role as receiver of the institution's assets.

Legislation and Emerging Issues

Given Fredrikson & Byron's knowledge of the financial services industry, we are often called upon to provide expertise concerning proposed and pending legislation. As an example, we have worked on Subchapter S legislation and testified concerning privacy legislation proposed for the state of Minnesota. Since passage of Gramm-Leach-Bliley, we have worked with trade associations and the regulatory agencies to resolve questions raised by the new law.

We frequently speak at regional and national banking conferences and write on banking issues. The firm's newsletter, Bank Focus, is a recognized publication providing regulatory updates and planning advice.

Representative Clients

More than 100 banks and bank holding companies - from community banks to super regional banks.