Akin Gump Strauss Hauer & Feld LLP’s financial services policy team is actively engaged on a wide range of public policy matters impacting the financial services sector, including issues before the House Financial Services and the Senate Banking, Housing and Urban Affairs committees, as well as before federal agencies such as the departments of the Treasury and Housing and Urban Development (HUD), the Federal Housing Finance Agency (FHFA), the Consumer Financial Protection Bureau (CFPB), the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC).
We have strong relationships and experience working with a number of banking- and housing-related trade associations such as the American Bankers Association, the Independent Community Bankers of America, the Financial Services Roundtable, the Mortgage Bankers Association, the National Association of Home Builders and the National Association of Realtors, as well as consumer groups that advocate on mortgage finance and housing issues.
Wall Street reform continues to be a major issue on Capitol Hill, and our team of lawyers and advisors represent clients with interests in the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), as well as a number of other policy issues that affect the financial services industry. We represent foreign and domestic financial institutions on a range of issues, including those related to government-sponsored enterprises (GSEs), insurance companies and private mortgage insurance providers, companies with consumer finance divisions, credit rating agencies, international stock exchanges, private equity firms and hedge funds.
Our team includes a former member of the Senate Banking Committee, as well as a former deputy staff director and legislative counsel to the committee.
Representation of concerns is a core area for multiple Akin Gump practices. Our work on behalf of private equity is equally deep within the public law and policy practice and extends through multiple issue and industry areas.
We advocate before Congress, the White House and executive branch agencies on behalf of private equity firms, their portfolio companies and the industry at large on issues such as financial regulatory reform; tax issues, including tax reform; and compliance with political law and government ethics. We also represent private equity firms with regard to congressional oversight of, and hearings related to, regulation of the industry.
Akin Gump has maintained an active insurance policy practice for more than 20 years to complement our broader representation. During that time, we have been involved in most, if not all, of the major insurance policy initiatives impacting both the property/casualty (P&C) and life segments. Representative examples of the areas in which we have been actively involved include health care reform issues in the early 1990s; Superfund reform legislation; asbestos reform legislation; enactment, implementation and subsequent reauthorizations of the Terrorism Risk Insurance Act; domestic and international taxation issues impacting the P&C and life industries; multilateral and bilateral trade and market access issues; flood insurance legislation; and Dodd-Frank and its implementation.
Akin Gump has significant experience working with HUD in advocating for discretionary funding, including for sustainable communities and HOPE VI projects. Our team has experience with the Community Development Block Grant (CDBG), Section 108 loan, HOME Investment Partnerships (HOME) and Housing Opportunities for Persons with AIDS (HOPWA) programs and has advised clients regarding program compliance issues. We work closely with HUD political appointees and career officials, in conjunction with members of Congress, in analyzing regulatory compliance issues and developing strategies for addressing issues. We are also well versed in program operations and in development of strategies to effect changes to laws, regulations and policies.
Our team has been integrally involved in advancing economic development plans for public-sector clients. We have been involved in empowerment zone issues, working with HUD and Congress to fund empowerment zone tax incentives. We are also experienced with the laws associated with developing housing and economic development projects, including the Fair Housing Act, eminent domain laws, the National Environmental Policy Act (NEPA) and the Uniform Relocation Assistance Act, having advised a broad range of public- and private-sector clients on these laws and regulations.