David is senior counsel in the Government & Regulatory Affairs practice, the Privacy & Consumer Regulatory practice, and member of the Payment Systems industry team. Widely recognized for his expertise in banking, payments, housing and consumer finance law, he brings three decades of experience working in financial regulatory agencies to AGG. As a leading legal advisor to the banking and financial services industries, David helps clients handle regulatory issues, investigations and litigation. He also serves as an expert witness on bank regulatory, examination, governance and compliance matters. As a result of his leadership roles in major examinations and enforcement cases, David helps clients mitigate risks when dealing with the Consumer Finance Protection Bureau (CFPB), the Federal Trade Commission (FTC), the Federal Deposit Insurance Corporation (FDIC) and other financial industry regulators. His practice includes governance studies, housing and government sponsored enterprise (GSE) issues, state and federal money service business licensing and registration, Bank Holding Company Act issues, mortgage origination and servicing rules, director and officer liability cases, consumer protection law, and privacy law.
Leveraging his agency experience, David offers a unique and extensive view into the regulatory and legislative landscape. He has drafted enforcement, capital, insurance, conservatorship and receivership regulations and frequently counseled agency heads regarding the scope and interpretation of statutes and regulations. He collaborated closely with legislators and Congressional staff on a number of legislative initiatives, including the bill that established the Federal Housing Finance Agency (FHFA) and created a new regulatory regime for Fannie, Freddie and the Federal Home Loan Banks. Before moving to management positions, David served as a trial attorney and appellate litigator at the FDIC, appearing before the U.S. Supreme Court and arguing cases in numerous federal and state courts of appeals
During his distinguished government career, David served as Deputy General Counsel for the FHFA and Acting General Counsel for the Office of Federal Housing Enterprise Oversight after holding senior jobs with bank and thrift regulators. As Deputy General Counsel for Conservatorships at the FHFA, he 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 the hundreds of lawyers and all the legal work of those companies. David 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 career, he led teams that litigated numerous high profile director and officer liability cases, large commercial cases and bankruptcies, and challenges to agency regulatory authorities.