On June 7, 2022, U.S. Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced the Lummis-Gillibrand Responsible Financial Innovation Act (RFIA), a bill that would create the first comprehensive regulatory framework of digital assets in the United States.

The 69-page bipartisan proposal—which consists of eight titles and 54 sections—covers a myriad of issues related to taxes, securities, commodities, consumer protection, payments and stablecoins, banking laws, interagency coordination, and further agency research.

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Photo of Tonya Esposito Tonya Esposito

Tonya M. Esposito focuses her practice on a variety of consumer issues, including financial services, antitrust, and marketing and advertising. She has considerable experience representing clients in private litigation, as well as in government investigations brought by state attorneys general, the Federal Trade…

Tonya M. Esposito focuses her practice on a variety of consumer issues, including financial services, antitrust, and marketing and advertising. She has considerable experience representing clients in private litigation, as well as in government investigations brought by state attorneys general, the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), the Food and Drug Administration (FDA), and the Consumer Financial Protection Bureau (CFPB).

With deep experience representing a variety of financial institutions in both litigation and compliance matters, Tonya represents clients in litigation involving claims brought under the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), the Telephone Consumer Protection Act (TCPA), the state deceptive acts and practices laws (UDAAP), and many types of internal and government investigations. She regularly handles matters involving credit cards, student loans, residential and commercial mortgages, as well as privacy and FinTech issues.

Photo of Paul Ferak Paul Ferak

Paul J. Ferak is Co-Chair of the Financial Services Litigation Practice. Paul focuses his practice on financial services litigation, business litigation, and class action defense. He has served as lead and co-lead counsel in matters across the country. He manages a national team

Paul J. Ferak is Co-Chair of the Financial Services Litigation Practice. Paul focuses his practice on financial services litigation, business litigation, and class action defense. He has served as lead and co-lead counsel in matters across the country. He manages a national team of attorneys across Greenberg Traurig’s offices defending financial institutions in a variety of consumer and business matters and class actions. He has defended class actions involving mobile banking, electronic payments, credit cards, mortgages, and overdraft practices. He also regularly defends matters alleging violations of various statutes affecting the financial services industry, including credit cards, banking, and mortgage laws; privacy laws; and state consumer fraud laws; as well as matters relating to allegations of breach of contract and lender liability.

Paul is one of the leaders of the firm’s franchise litigation practice. He has represented franchisors in high-stakes litigation involving claims of breach of contract, breach of good faith and fair dealing, fraud, consumer fraud, tortious interference, and violation of various franchise laws. He has broad experience handling franchise terminations, nonrenewals, and the enforcement of in-term and post-termination covenants. He has handled both class and individual franchise cases.

Paul also has handled a variety of complex business disputes, including working capital, earn-out, and other post-acquisition claims in arbitration and in court.

Photo of Barbara A. Jones Barbara A. Jones

Barbara A. Jones is a member of the firm’s Global Securities practice group and serves as Co-Chair of the firm’s interdisciplinary Blockchain & Cryptocurrency practice group. She is also co-coordinator of the firm’s interdisciplinary Conflict Minerals Compliance Initiative. Barbara maintains a diverse corporate

Barbara A. Jones is a member of the firm’s Global Securities practice group and serves as Co-Chair of the firm’s interdisciplinary Blockchain & Cryptocurrency practice group. She is also co-coordinator of the firm’s interdisciplinary Conflict Minerals Compliance Initiative. Barbara maintains a diverse corporate and securities law practice across industry groups, emphasizing complex international and domestic transactions, including blockchain and cryptocurrency transactions, private and public financings (including token offerings), dual listings, mergers and acquisitions, strategic collaborations and joint ventures, and licensing transactions. Her practice includes serving as a trusted advisor to public and private company boards of directors on governance and complex regulatory reporting and compliance issues. Barbara’s clients include financial institutions, private equity and venture capital groups, and companies in blockchain, life sciences and biotechnology, information technology, energy (traditional and renewable), mining, defense and security, telecommunications, media, entertainment and sports. Barbara is also active in the representation of Olympic athletes and sports-related organizations.

Barbara practiced U.S. law in London from 1990 through 2003, and headed the international capital markets practice of a major U.S. law firm from 1999 to 2003 before relocating to Boston. From 1997 to 1999, she served as Vice-President, Assistant General Counsel and Regional Counsel for capital markets with J.P. Morgan Securities Ltd. in Europe, the Middle East and Africa. Since returning to the U.S., she has continued to actively represent public and private companies, private equity groups and investment banks in the European, Scandinavian, African and greater Asian markets, including China.

Barbara is a past chair of the ABA’s Subcommittee on International Securities Matters. She is a frequent speaker at conferences relating to cross-border securities matters and strategic alternatives.

Photo of Robert Long Robert Long

Robert Long previously served as a senior attorney at the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), and as a federal prosecutor with the U.S. Department of Justice (DOJ). Rob defends clients in government investigations and prosecutions,

Robert Long previously served as a senior attorney at the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), and as a federal prosecutor with the U.S. Department of Justice (DOJ). Rob defends clients in government investigations and prosecutions, spearheads special investigations, and advises financial services firms and market participants on regulatory, compliance, and cryptocurrency matters.

SEC Attorney Experience

Rob spent over ten years at the SEC in various capacities—Trial Attorney, Branch Chief, Senior Counsel, and Staff Attorney. In the SEC’s Division of Enforcement, Rob led enforcement litigation in federal courts and administrative proceedings, and directed/conducted complex investigations that resulted in significant enforcement actions, including halting a $160 million Ponzi scheme, charging a Fortune 500 company with FCPA violations, charging a Fortune 1000 company with accounting fraud, and prosecuting multiple insider trading cases and sophisticated market manipulation schemes. Rob also served in the SEC’s Division of Market Regulation (now the Division of Trading and Markets) where he reviewed market rules and analyzed market structure issues. While at the SEC, Rob served in the SEC’s Fort Worth and Washington, DC offices.

FINRA Attorney Experience

As a Senior Regional Counsel in FINRA’s Department of Enforcement in Dallas, Rob investigated violations of FINRA, SEC, and Municipal Securities Rulemaking Board (MSRB) rules, and the federal securities laws. Rob successfully handled enforcement cases involving high-frequency trading, complex products, inadequate anti-money laundering (AML) compliance programs, due diligence violations, supervision failures, misrepresentations in oil and gas offering materials, unsuitable recommendations, net capital violations, and broker misconduct.

DOJ Attorney Experience

Rob is a former federal prosecutor. As an Assistant U.S. Attorney (AUSA) for the District of Arizona in the Economic Crimes and Public Integrity Unit and as a Special AUSA for the Northern District of Texas, Rob worked closely with various law enforcement agencies, such as the Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), U.S. Secret Service, and Postal Inspection Service, to prosecute high-profile white collar and public integrity cases. His cases included a 12 defendant mortgage and loan fraud scheme, a “politically sensitive” case of “extreme importance,” and an oil and gas offering fraud scheme that was included in The President’s Financial Fraud Enforcement Task Force. Notably, Rob was selected by the U.S. Attorney for the District of Arizona to participate in DOJ’s nationwide “Election Day Program” to respond to complaints regarding election fraud and voting rights abuses during the November 7, 2006 general elections, and was a member of the Mortgage Fraud Task Force.

National Practice

Rob draws on his knowledge of the inner workings of regulatory and law enforcement organizations and his wide-ranging multi-agency experience when defending regulatory and white-collar investigations and prosecutions; advising corporations, hedge funds, broker-dealers, investment advisers, and other market participants on compliance and regulatory matters; and conducting internal investigations. Rob advises clients on matters involving the SEC, FINRA, DOJ, FBI, Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Public Company Accounting Oversight Board (PCAOB), Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC), and other federal and state regulatory agencies, including the Texas State Securities Board (TSSB). Rob is regarded as a skilled attorney advising companies (public and private), senior executives, boards, directors, and other individuals in securities enforcement and government investigation matters.

Photo of William Mack William Mack

William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority

William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority (FINRA) rules.

William’s practice involves all aspects of broker-dealer regulation, including Self-Regulatory Organization (SRO) membership, supervision, employment, research, soft dollar arrangements, chaperoning of foreign broker-dealers, social media, use of foreign finders, anti-money laundering rules, alternative trading systems (ATS), exchanges, and market making issues. He also provides regulatory guidance to investment banking clients in connection with securities offerings and related trading issues.

Photo of Marina Olman-Pal Marina Olman-Pal

Marina Olman-Pal advises foreign and U.S. financial institutions on a broad range of regulatory matters including licensing, acquisitions, divestitures, compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations, and compliance with Office of Foreign Assets Control (OFAC) sanctions programs. Marina counsels…

Marina Olman-Pal advises foreign and U.S. financial institutions on a broad range of regulatory matters including licensing, acquisitions, divestitures, compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations, and compliance with Office of Foreign Assets Control (OFAC) sanctions programs. Marina counsels a wide range of companies in the financial services sector including, domestic and foreign banks, gaming companies, money services businesses including money transmitters, cryptocurrency businesses, Fintech companies and digital payment companies. Throughout her career, Marina has represented clients before U.S. regulators such as the Federal Reserve, OCC, FDIC, FinCEN, OFAC, the Florida Office of Financial Regulation and other state supervisory authorities.

Marina also regularly develops anti-money laundering programs for a wide range of financial services businesses and non-financial services businesses including, U.S. and foreign companies active in industries such as real estate, hospitality, automotive and artificial intelligence, among many others.

Photo of Anne V. Dunne Anne V. Dunne

Anne V. Dunne focuses her practice on commercial litigation, concentrating on financial services, class action defense, government investigations, and whistleblower litigation. She handles claims in both state and federal courts on behalf of a wide range of clients, including consumer banks, financial services…

Anne V. Dunne focuses her practice on commercial litigation, concentrating on financial services, class action defense, government investigations, and whistleblower litigation. She handles claims in both state and federal courts on behalf of a wide range of clients, including consumer banks, financial services companies, national banks, mortgage lenders and servicers, credit card issuers, short-term lenders, student lenders, manufacturers, and large national retailers. Anne counsels clients on compliance with state and federal statutes and regulations, including TILA, FDCPA, TCPA, RESPA, ECOA, FCRA, Dodd-Frank, SOX, Chapter 93A, CUTPA, RFDCPA, and CCPA.

Additionally, Anne litigates claims of trade secret misappropriation, unfair competition, and breach of restrictive covenant agreements. She also represents corporations, officers, and directors on securities litigation matters, shareholder derivative actions, and other complex commercial disputes.

Photo of Michael E. Jusczyk Michael E. Jusczyk

Michael E. Jusczyk represents national financial institutions in escalated defensive litigation, including foreclosure-related and bankruptcy matters, and defends complaints alleging violations of state and federal financial regulation and consumer protection statutes. He appears on clients’ behalf in state and federal trial and appellate…

Michael E. Jusczyk represents national financial institutions in escalated defensive litigation, including foreclosure-related and bankruptcy matters, and defends complaints alleging violations of state and federal financial regulation and consumer protection statutes. He appears on clients’ behalf in state and federal trial and appellate courts for proceedings at all states of litigation and guides them through the mediation and arbitration processes when appropriate.

Michael advises national banks on compliance with federal and state regulations related to loan servicing, mortgage foreclosure, and loss mitigation. He also defends companies and educational institutions in FTC investigations and employment matters, including class-action suits and business-to-business contractual disputes and product liability claims, and advises clients regarding insurance coverage questions and product and food labeling requirements.

Michael also maintains an active pro bono practice, working with unaccompanied minors and defending their interests in immigration court and related state proceedings in partnership with K.I.N.D. (Kids in Need of Defense).