Julius “Jerry” Loeser is of counsel in the firm’s Chicago office, and his practice focuses on banking regulation. He has extensive experience in counseling financial services clients on, among other things, bank acquisitions, privacy, financial modernization, the USA PATRIOT Act, Basel II and III, lending limits, capital, trust, affiliate transactions, and Federal Reserve, OCC, FDIC, and CFPB regulations.
Prior to working at large corporate law firms, Mr. Loeser was chief regulatory and compliance counsel for Comerica Bank, where he also served as senior vice president and deputy general counsel and as general counsel of its retail bank division. Before that, he served as chief regulatory in-house counsel at Wells Fargo & Co. Mr. Loeser began his legal career advising the Board of Governors of the Federal Reserve System in Washington, D.C.
Some of Mr. Loeser’s recent representative matters include:
- Reviewing a major credit card company’s credit bureau reporting policies and processes
- Reviewing and revising international banking entity regulations for the Attorney-General of a U. S. Territory
- Advising a regional bank on public welfare investments
- Advising a nationally-recognized investment manager on the effect of the Volcker Rule on tender option bonds
- Advising a money center bank on the effect of the Volcker Rule on tax credit investments
- Advising an internet bank on an enforcement action by the OCC
- Securing approval from the OCC of a change in control of a credit card bank on behalf of a private equity fund acquiring a retailer
- Advising the U.S. Treasury Department on bank regulatory aspects of the Chrysler and General Motors bankruptcies and establishing its Community Development Capital Investment program.
- Counseling a major investment firm in the design of a bank-owned life insurance product.
- Advising an investor in a private equity fund “club deal” acquisition of a failing bank.
- Counseling a money center bank in its participation in the Federal Reserve’s TALF program.
- Securing a precedential OCC interstate trust preemption ruling.
- Advising a client on the sale of a credit card portfolio.
- Managing a state bank charter conversion.
- Working with the U.S. Treasury Department on the issuance of Social Security debit cards.
Mr. Loeser received a B.A. and J.D., with honors, from Northwestern University.
Publications and Speaking Engagements
Mr. Loeser chairs the Consumer Financial Practice Bureau Working Group of a nationally-known legal reform group and, in that capacity, writes and publishes a monthly summary of developments at the CFPB.
Mr. Loeser regularly writes and speaks on bank regulation. In September 2014, he addressed the Annual Meeting of the American College of Mortgage Attorneys on bank regulatory developments likely to adversely affect the cost and availability of commercial real estate credit, particularly new Basil III bank capital requirements and a new bank Liquidity Coverage Ratio rule. In September, 2014, he also addressed the Thomson-Reuters Annual Loan Conference in New York on the bank regulators’ Leveraged Lending Guidance. In April, 2014, he addressed a meeting of the International Law Section of the American Bar Association in New York at which he explained new bank Basel III capital requirements.