Derek M. Bush
Partner
“The hugely well-regarded Derek Bush…is ‘very attuned to the regulatory sphere.’”
Chambers Global
Law360 “MVP in Banking” and Best Lawyers Washington, D.C. “Banking and Finance Lawyer of the Year”
Derek M. Bush’s practice focuses on advising U.S. and international financial institutions and foreign sovereigns regarding the complete spectrum of U.S. bank regulatory matters and legislation.
Among other areas, this includes regulatory requirements imposed under the Dodd-Frank Act, restructurings, corporate governance and investments by and in banking organizations; corporate transactions, including mergers and acquisitions, asset sales, privatizations, capital markets transactions, joint ventures and strategic alliances; and internal investigations and in enforcement proceedings involving the U.S. federal banking agencies.
He represents clients before the Federal Reserve Board, Federal Reserve Banks, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the New York Department of Financial Services.
Derek joined the firm in 1995 and became a partner in 2003.
Notable Experience
Regulatory Highlights
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Several U.S. and non-U.S. banks on the preparation of resolution plans.
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The Institute of International Bankers regarding various matters related to U.S. regulatory reform as applied to internationally headquartered institutions, including in connection with the Volcker Rule.
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Numerous U.S. and non-U.S. banking organizations in all aspects of implementation of, and compliance with, the Volcker Rule.
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Multiple U.S. and non-U.S. financial institutions, (including BNP Paribas, Barclays, Natixis and Mizuho) regarding the Federal Reserve Board’s enhanced prudential standards adopted under Section 165 of the Dodd-Frank Act and the implementation of enhanced capital requirements under the Basel Committee’s “Basel II,” “Basel II-1/2” and “Basel III.”
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U.S. and international banks in connection with regulatory investigations by the Federal Reserve, FinCEN, OFAC and bank regulatory authorities regarding compliance with anti-money laundering requirements and U.S. sanctions programs.
Transactional Highlights
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The underwriters, led by Goldman Sachs, JPMorgan Chase and Morgan Stanley, in the initial public offering of shares of common stock of Citizens Financial Group — the largest-ever U.S. IPO of a retail bank.
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Banner Corporation in its $702 million acquisition of Starbuck Bancshares, the bank holding company for AmericanWest Bank.
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American Express in the formation of a 50/50 joint venture of its Global Business Travel division with an investor group comprised of BlackRock, Certares LP, Macquarie Capital Group and Qatar Holding.
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Barclays Bank in the sale of all of the partnership interests in Barclays Private Credit Partners Fund L.P. to Ares Capital Corporation, a specialty finance company for private middle-market companies.
Selected Activities
trigger- Member, Executive Council, Banking Law Section of the Federal Bar Association
- Faculty; Financial Institutions, Markets, and Transactions Training Series; 2023
Publications
Agencies Adopt Final Guidance for Resolution Plans of Domestic and Foreign Triennial Full Filers
FDIC Adopts New Final Rule for IDI Resolution Plans
Countdown to Implementation of US Beneficial Ownership Reporting
U.S. Banking Agencies Propose Increases to Capital Requirements of Banking Institutions
Corporates Face Novel Risks from Debt Ceiling Impasse—Even if No Default Occurs
Recent Bank Failure Reports Point to Increased Scrutiny of U.S. Banks
Agencies Seek Comment on Large Bank Resolution
FinCEN Requests Input on Potential AML Requirements for Real Estate Transactions
U.S. Banking Agencies Issue Roadmap for Crypto Regulation
OFAC Settles With Digital Currency Payment Processor for Sanctions Violations
FDIC Overhauls Brokered Deposit Regulation
OCC Standardizes Rules for Complex Activities and Updates Licensing Procedures
Agencies Finalize Resolution Plan Guidance for Certain Foreign Banks
Key Areas to Watch in Financial Institution Regulation Under President Biden
Guide 3 Requirements for Banking Registrants Codified
OCC Looks to Expand Digital Banking and Proposes Updates to Bank Activity Regulations
FDIC Approves Two New ILCs and Proposes Supervision of ILC Parents
Summary of U.S. Financial Sector Initiatives Responding to COVID-19
DFS Regulation Clarifies Scope of Governor Cuomo’s Forbearance Order
Comprehensive Summary of U.S. Financial Sector Initiatives Responding to COVID-19
Agencies Propose Resolution Plan Guidance For Three Large FBOs
Response to COVID-19: Break Out the Financial Crisis Toolkit?
Federal Reserve’s Final Rule on “Control”: Observations and Analysis
Observations on the Volcker Funds Proposal
Federal Banking Agencies Release Foreign Bank Tailoring Proposals
OCC Begins Accepting Applications for FinTech Charters
Volcker 1.5: Highlights of Proposal to Simplify the Volcker Rule
Cleary Gottlieb Discusses New Law Revising Dodd-Frank Act
Senate Passes Regulatory Relief Bill
Regulation of Foreign Banks & Affiliates in the United States
Guide to Bank Underwriting, Dealing and Brokerage Activities
A Dramatic Departure? National Treatment of Foreign Banks
U.S. Regulation of International Activities of U.S. Banking Organizations
Events
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March 12, 2024
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January 11, 2024
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November 17, 2023
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November 2, 2023
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October 26, 2023
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November 16, 2022
Looking for the Long View on U.S. Digital Assets Policy and Regulation
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November 1, 2022
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September 7, 2022
The Clearing House and Bank Policy Institute’s 2022 Annual Conference
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January 11, 2022
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November 23, 2021
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January 14, 2021
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January 11, 2021
IIB Virtual U.S. Regulatory & Compliance Orientation Program for Head Office Personnel
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November 10, 2020
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September 21, 2020
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November 20, 2019
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November 12, 2019
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May 2, 2019
PLI’s The Volcker Rule 2019: What It Means for Financial Institutions and Markets
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March 12, 2019
Institute of International Bankers Annual Washington Conference 2019
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November 30, 2018
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November 26, 2018
The Clearing House and Bank Policy Institute 2018 Annual Conference
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May 8, 2018
PLI’s The Volcker Rule 2018: What It Means for Financial Institutions and Markets
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March 6, 2018
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January 20, 2018
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December 1, 2017
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November 7, 2017
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October 16, 2017
IIB’s Risk Management and Regulatory Examination/Compliance Seminar
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May 9, 2017
PLI’s The Volcker Rule: What it Means for Financial Institutions and Markets
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March 14, 2017
Institute of International Bankers Annual Washington Conference 2017
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December 12, 2016
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December 2, 2016
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May 17, 2016
PLI's The Volcker Rule 2016: What it Means for Financial Institutions and Markets
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March 14, 2016
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June 2, 2015
PLI's The Volcker Rule 2015: What it Means for Financial Institutions and Markets
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December 10, 2014
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November 20, 2014
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November 4, 2014
Institute of International Bankers: IIB/CSBS U.S. Regulatory/Compliance Orientation Program
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October 8, 2014
Institute of International Bankers: Risk Management and Regulatory Examination/Compliance Seminar
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October 1, 2014
Institute of International Bankers: Regulatory Reporting Seminar
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May 22, 2014
PLI’s The Volcker Rule: What it Means for Financial Institutions and Markets
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April 2, 2014
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March 26, 2014
Institute of International Bankers Dodd-Frank Section 165 Seminar
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January 7, 2014
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May 2, 2013
Atlantic Council Transatlantic Finance Initiative - Roundtable
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February 12, 2013
Impact on U.S. Regulatory Reform on Global Banks: Key Perspectives on the Major Areas
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January 15, 2013
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December 5, 2012
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November 27, 2012
2012 Institute of International Bankers CSBS U.S. Regulatory/Compliance Orientation Program
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October 17, 2012
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May 17, 2012
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May 15, 2012
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September 29, 2010
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July 28, 2009
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June 2, 2009