Katherine Mooney Carroll’s practice focuses on advising U.S. and international financial institutions on U.S. regulatory matters, including recent reforms pursuant to the Dodd-Frank Act, regulatory aspects of bank M&A, cybersecurity and privacy matters, and compliance with U.S. sanctions and anti-money laundering laws.

Katherine served as counselor to Secretary of Defense Ash Carter from April 2016 to January 2017. At the U.S. Department of Defense, she advised Secretary Carter on a broad range of issues, including cybersecurity and related intelligence matters, the transfer of detainees from Guantanamo Bay and lifting restrictions on service by women and transgender service members. She was awarded the Secretary of Defense Medal for Outstanding Public Service.

Katherine has extensive experience advising major U.S. and non-U.S. banking organizations on the Volcker Rule, heightened prudential requirements and the development of U.S. resolution plans or “living wills.” She also advises financial institutions in investigations and enforcement matters involving U.S. federal banking agencies, the Office of Foreign Assets Control and U.S. congressional committees.

Katherine joined the firm in 2001 and became partner in 2012; she left the firm to serve in the Defense Department in 2016 and returned as a partner in 2017. She worked in the firm’s Hong Kong and New York offices before moving to the Washington office in 2003.

Prior to studying law, Katherine worked as the executive director of the Open Society Institute in Uzbekistan and as the special assistant to the assistant secretary of defense for international security policy at the U.S. Department of Defense.

Notable Experience

  • Multiple major U.S. financial institutions including Citibank, Goldman Sachs, JPMorgan Chase and Morgan Stanley regarding compliance with the Volcker Rule.

  • Ongoing anti-money laundering advice to major global private equity firms, including drafting or revising anti-money laundering policies and procedures and issues that arise with potential investors.

  • A major Mexican financial institution regarding its anti-money laundering program and its U.S. correspondent relationships with U.S. banks.

  • IMB HoldCo, the parent of OneWest Bank, in its $3.4 billion sale to CIT Group.

  • The Institute of International Bankers and its internationally headquartered member banks on Dodd-Frank reforms, including the Volcker Rule, resolution planning requirements, heightened prudential requirements, swaps “push-out” and other issues.

  • Multiple U.S. and non-U.S. banks in the preparation of their U.S. resolution plans and related corporate structure and cross-border resolution issues.

  • Oriental Financial Group on its $500 million acquisition of BBVA’s Puerto Rico operations and on two related capital markets offerings.

  • Credit Suisse in the bank regulatory aspects of numerous strategic transactions, including its investments in two newly formed Brazilian asset management companies and the spin-off of DLJ Merchant Banking Partners.

  • Major financial institutions in connection with their spin-offs of private equity funds and/or their managers and sales of fund interests.

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Selected Activities

  • Fellow in Advanced Cyber Studies at the Center for Strategic and International Studies. This program brings together leaders in cybersecurity issues from the business, technology, legal and government sectors
  • Vice Chair of the ABA Banking Law Subcommittee on Systemically Important Financial Institutions and a member of the Federal Bar Association Banking Committee Executive Council
  • Frequent speaker on U.S. regulatory reform and other bank regulatory issues, including at conferences hosted by the Institute of International Bankers, the American Bar Association and International Bar Association and the D.C. Bar