David A. Felt is of counsel in the Government and Regulatory Affairs, the Privacy and Consumer Regulatory and the Litigation practices in AGG’s DC office. Widely recognized for his expertise in banking, housing and finance, Mr. Felt brings three decades of experience in financial regulatory agencies to AGG. Most recently he served as Deputy General Counsel for the Federal Housing Finance Agency and Acting General Counsel for the Office of Federal Housing Enterprise Oversight after holding senior jobs with bank and thrift regulators.
Mr. Felt specializes in advising banking and financial services industry clients on regulatory issues, investigations and litigation. Due to his leadership roles in major examinations and enforcement cases, Mr. Felt shares his deep understanding of the supervisory process in the frequent seminars and webinars he conducts to help clients prepare for examinations by the Consumer Finance Protection Bureau and other regulators. At AGG, he helps clients mitigate the risks in dealing with the CFPB and other financial industry regulators. In addition, his practice includes governance studies, housing and government sponsored enterprise (GSE) issues, director and officer liability cases, FDIC assistance agreements, consumer protection law, and privacy law.
As Deputy General Counsel for Conservatorships at the FHFA, Mr. Felt ran the legal teams that planned and executed the conservatorships of Fannie Mae and Freddie Mac. Thereafter, he headed an office for the conservator to oversee all the legal work of those companies. He earlier served as legal advisor to the examination teams that uncovered multi-billion dollar accounting frauds at Fannie Mae and Freddie Mac and led the enforcement cases that his agency brought against those companies and their executives. During his distinguished career, he has litigated and led teams that have litigated numerous high profile director and officer liability cases, large commercial cases and bankruptcies, and challenges to agency regulatory authorities.
Mr. Felt also brings extensive regulatory and legislative experience from his former agencies, where he drafted enforcement, capital, insurance, conservatorship and receivership regulations and frequently counseled agency heads regarding the scope and interpretation of statutes and regulations. He worked closely with legislators and Congressional staff on a number of legislative initiatives, including the bill that established the FHFA and created a new regulatory regime for Fannie, Freddie and the Federal Home Loan Banks.