FacultyFaculty/Author Profile
Bimal Patel

Bimal Patel

O'Melveny & Myers LLP

Washington, DC, USA


Bimal Patel is the Head of the Financial Advisory and Regulation Practice and specializes in matters related to financial services, public policy, and political strategy. Bimal represents major financial institutions and their counterparties including sovereign wealth funds, hedge funds, and private equity funds in high-stakes complex transactions, litigation, and matters before the federal banking agencies and the Department of the Treasury. He served as Senior Advisor to Director Jeremiah O. Norton, a member of the Board of Directors of the Federal Deposit Insurance Corporation, prior to re-joining O’Melveny.

Bimal’s time with the FDIC allows him to provide financial sector clients with unique and valuable insight into the evolving cross-border regulatory issues that impact their business operations and investment decisions. He is also a leading expert on financial technology, having testified before Congress and advised technology companies, financial institutions, and investors on commercial and regulatory issues affecting the industry. In addition to his practice, he currently serves as an Adjunct Associate Professor at Stanford University where he teaches an annual course on banking regulation. Bimal is also a member of the board of editors of The Banking Law Journal and the FinTech Law Report, and he has recently authored articles on resolution policy and fair lending.

Bimal was recently named one of 40 rising stars in Washington, DC by The National Law Journal.

EXPERIENCE

Representative Experience at the FDIC

  • Worked closely with senior staff to formulate key rulemakings including the implementation of the Basel III Capital Accords, the Volcker Rule, deposit insurance assessments, and rules related to the Orderly Liquidation Authority
  • Advised on key supervisory matters, including review of multiple rounds of financial company “living wills” submitted under Section 165(d) of the Dodd-Frank Act
  • Reviewed and advised on all matters to come before the FDIC Board’s Case Review Committee, which handles the FDIC’s enforcement matters. Representative matters included actions against institutions and individuals including matters under: BSA/AML regulations, Section 5 of the FTC Act, fair lending laws, and section 8 of the FDI Act
  • Participated in working groups with senior foreign regulators related to cross-border recovery and resolution

Representative Experience at O’Melveny

  • Representing BB&T Corporation in its US$1.8 billion acquisition of National Penn Bancshares, Inc.
  • Counseling clients on bank regulatory issues in connection with financings, equity investments, and M&A activity concerning provisions of the Bank Holding Company Act of 1956, the International Banking Act of 1978, the Volcker Rule, and the Federal Deposit Insurance Act
  • Representing clients in federal investigations arising under the Bank Secrecy Act and Anti- Money Laundering rules and providing ongoing counseling to bank and non-bank clients regarding these rules
  • Representing payments industry clients on issues related to the Federal Reserve Board’s interchange regulations, issues arising under the Bank Secrecy Act and Anti-Money Laundering rules, and issues arising under the Federal Reserve Board’s Regulation E
  • Representing financial services industry clients in disparate-impact class action litigation alleging violations of the Equal Credit Opportunity Act and the Fair Housing Act, in class action litigation involving constitutional challenges to government programs targeting the financial services industry, and in counseling matters involving various consumer financial laws

CORPORATE & GOVERNMENT EXPERIENCE 

  • Senior Advisor to Director Jeremiah O. Norton, member of Board of Directors, Federal Deposit Insurance Corporation

HONORS & AWARDS

  • Named one of 40 rising stars in Washington, DC by The National Law Journal

ADMISSIONS

Bar Admission

  • District of Columbia
  • Georgia
  • New York

EDUCATION

  • Georgetown University, J.D.
  • Harvard University, M.P.P.
  • Stanford University, B.A., Political Science and Economics

PROFESSIONAL ACTIVITIES

Interviews

  • “FDIC Plan Could Force Banks to Rethink Deposit Strategies” American Banker (July 2015)
  • “FDIC Premium Plan Deals a Bad Hand to Some Banks” American Banker (July 2015)
  • “Lehman Brothers Debt Service Will Benefit to China’s Capital,” China Business Journal (March 2012)

Teaching

  • Banking Regulation Since the Financial Crisis, Stanford in Washington (2014-present)

Scholarship

  • Member, Board of Editors, The Banking Law Journal and the FinTech Law Report
  • The Symbiosis of Banks and Marketplace Lending: Where Are We and Where Are We Headed?, 133 Banking L. J. 322 (2016)
  • Resolution Policy for Bank-Centric Firms, 12 Pratt’s Journal of Bankruptcy Law 3 (2016)
  • Resolution Policy: Where Are We and Where Are We Headed, 11 Pratt’s Journal of Bankruptcy Law 338 (2015)
  • Robust Causality and Cautionary Standards, 132 Banking L. J. 553 (2015)
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