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 Experiences
Regulatory Highlights
Several U.S. and non-U.S. banks on the preparation of resolution plans.
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.
Numerous U.S. and non-U.S. banking organizations in all aspects of implementation of, and compliance with, the Volcker Rule.
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.”
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
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.
Banner Corporation in its $702 million acquisition of Starbuck Bancshares, the bank holding company for AmericanWest Bank.
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.
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
- Member, Executive Council, Banking Law Section of the Federal Bar Association
- Faculty; Financial Institutions, Markets, and Transactions Training Series; 2023
Publications
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
November 16, 2022
Looking for the Long View on U.S. Digital Assets Policy and Regulation
November 1, 2022
September 7, 2022
The Clearing House and Bank Policy Institute’s 2022 Annual Conference
January 11, 2022
November 23, 2021
January 14, 2021
January 11, 2021
IIB Virtual U.S. Regulatory & Compliance Orientation Program for Head Office Personnel
November 10, 2020
September 21, 2020
November 20, 2019
November 12, 2019
May 2, 2019
PLI’s The Volcker Rule 2019: What It Means for Financial Institutions and Markets
March 12, 2019
Institute of International Bankers Annual Washington Conference 2019
November 30, 2018
November 26, 2018
The Clearing House and Bank Policy Institute 2018 Annual Conference
May 8, 2018
PLI’s The Volcker Rule 2018: What It Means for Financial Institutions and Markets
March 6, 2018
January 20, 2018
December 1, 2017
November 7, 2017
October 16, 2017
IIB’s Risk Management and Regulatory Examination/Compliance Seminar
May 9, 2017
PLI’s The Volcker Rule: What it Means for Financial Institutions and Markets
March 14, 2017
Institute of International Bankers Annual Washington Conference 2017
December 12, 2016
December 2, 2016
May 17, 2016
PLI's The Volcker Rule 2016: What it Means for Financial Institutions and Markets
March 14, 2016
June 2, 2015
PLI's The Volcker Rule 2015: What it Means for Financial Institutions and Markets
December 10, 2014
November 20, 2014
November 4, 2014
Institute of International Bankers: IIB/CSBS U.S. Regulatory/Compliance Orientation Program
October 8, 2014
Institute of International Bankers: Risk Management and Regulatory Examination/Compliance Seminar
October 1, 2014
Institute of International Bankers: Regulatory Reporting Seminar
May 22, 2014
PLI’s The Volcker Rule: What it Means for Financial Institutions and Markets
April 2, 2014
March 26, 2014
Institute of International Bankers Dodd-Frank Section 165 Seminar
January 7, 2014
May 2, 2013
Atlantic Council Transatlantic Finance Initiative - Roundtable
February 12, 2013
Impact on U.S. Regulatory Reform on Global Banks: Key Perspectives on the Major Areas
January 15, 2013
December 5, 2012
November 27, 2012
2012 Institute of International Bankers CSBS U.S. Regulatory/Compliance Orientation Program
October 17, 2012
May 17, 2012
May 15, 2012
September 29, 2010
July 28, 2009
June 2, 2009