Cravath’s New York Office Moves to Two Manhattan West
Jelena McWilliams is Managing Partner of the Washington, D.C. office and Head of the Financial Institutions Group (FIG) Practice. She is a former Chairman of the Federal Deposit Insurance Corporation (FDIC). Ms. McWilliams focuses her practice on advising public and private companies, financial institutions, fintechs, and early-stage and venture companies on regulatory and corporate matters, as well as on mergers and acquisitions, IPO and other capital markets transactions.
While at the FDIC, Ms. McWilliams managed over 6,000 employees supervising approximately 5,000 banks, including through the COVID-19 pandemic. She participated in interagency negotiations, policy developments and joint agency rulemakings both as agency principal and as a voting member of the Financial Stability Oversight Council (FSOC). Ms. McWilliams chaired the Resolution Group at the Financial Stability Board (FSB); chaired and served on the Federal Financial Institutions Examination Council (FFIEC); and served on the Financial and Banking Information Infrastructure Committee (FBIIC). She testified before U.S. Congress on numerous occasions and engaged extensively with U.S. and international regulators, including the Basel Committee on Banking Supervision and the International Association of Deposit Insurers. She established the agency’s first office of innovation to implement technological advancements through supervisory channels and collaborative partnerships between banks and fintechs. Ms. McWilliams also spearheaded the agency’s effort to develop prudential banking policy on digital assets, including through a “crypto sprint” with the Office of the Currency Comptroller (OCC) and the Federal Reserve Board (FRB), and in collaboration with the President’s Working Group multiagency effort on stablecoins. She envisioned and created Mission Driven Bank Fund, a novel private/public partnership investment fund to support investments in low- and moderate-income communities served by the Minority Depository Institutions and Community Development Financial Institutions.
Prior to her tenure as FDIC Chairman, Ms. McWilliams served as Executive Vice President, Chief Legal Officer and Corporate Secretary for Fifth Third Bank (FITB) where she managed over 100 lawyers and legal staff, oversaw legal and regulatory matters, and served on the Enterprise Committee and several internal committees, including Management Compliance, Enterprise Risk, Risk and Compliance, Operational Risk, Enterprise Marketing and Regulatory Change. In this capacity, Ms. McWilliams had extensive interactions with numerous federal and state regulatory agencies, including the Federal Reserve Bank of Cleveland, the FDIC, the Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC).
Before that, Ms. McWilliams served as Chief Counsel and Deputy Staff Director for the U.S. Senate Committee on Banking, Housing, and Urban Affairs where she engaged in oversight of FRB, FDIC, Office of the Comptroller of the Currency (OCC), CFPB, National Credit Union Administration (NCUA), SEC, Commodity Futures Trading Commission (CFTC), Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), U.S. Department of Housing and Urban Development (HUD), FSOC and Office of Financial Research (OFR). She interacted with law enforcement and regulatory agencies, including U.S. Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN).
Previously, Ms. McWilliams served as Assistant Chief Counsel for the U.S. Senate Committee on Small Business and Entrepreneurship where she engaged in oversight of Small Business Administration (SBA) and its lending programs, and served as a principal advisor handling matters related to financial services.
During the 2007–2010 financial crisis, Ms. McWilliams served as a consumer protection attorney at the Federal Reserve Board of Governors where she worked on several rulemakings, including to amend consumer protection regulations under the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transactions Act (FACTA), Gramm-Leach Bliley Act (GLBA) and Credit Card Accountability Responsibility and Disclosure (CARD) Act, as well as bank and third party practices related to section 5 of the Federal Trade Commission (FTC) Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP).
Ms. McWilliams is a frequent speaker on trends and topics in the financial services sector, including bank regulatory policy, governance trends, digital assets, fintechs and early-stage company regulatory policy. She is a past member of the Economic Council of Washington, D.C., and serves on the Board of Trustees of the Southwestern Graduate School of Banking Foundation at Southern Methodist University.
Ms. McWilliams was born in Belgrade, Serbia. She received her B.A. with highest honors from the University of California, Berkeley in 1999 and her J.D. from the University of California, Berkeley, School of Law in 2002.
While at the FDIC, Ms. McWilliams managed over 6,000 employees supervising approximately 5,000 banks, including through the COVID-19 pandemic. She participated in interagency negotiations, policy developments and joint agency rulemakings both as agency principal and as a voting member of the Financial Stability Oversight Council (FSOC). Ms. McWilliams chaired the Resolution Group at the Financial Stability Board (FSB); chaired and served on the Federal Financial Institutions Examination Council (FFIEC); and served on the Financial and Banking Information Infrastructure Committee (FBIIC). She testified before U.S. Congress on numerous occasions and engaged extensively with U.S. and international regulators, including the Basel Committee on Banking Supervision and the International Association of Deposit Insurers. She established the agency’s first office of innovation to implement technological advancements through supervisory channels and collaborative partnerships between banks and fintechs. Ms. McWilliams also spearheaded the agency’s effort to develop prudential banking policy on digital assets, including through a “crypto sprint” with the Office of the Currency Comptroller (OCC) and the Federal Reserve Board (FRB), and in collaboration with the President’s Working Group multiagency effort on stablecoins. She envisioned and created Mission Driven Bank Fund, a novel private/public partnership investment fund to support investments in low- and moderate-income communities served by the Minority Depository Institutions and Community Development Financial Institutions.
Prior to her tenure as FDIC Chairman, Ms. McWilliams served as Executive Vice President, Chief Legal Officer and Corporate Secretary for Fifth Third Bank (FITB) where she managed over 100 lawyers and legal staff, oversaw legal and regulatory matters, and served on the Enterprise Committee and several internal committees, including Management Compliance, Enterprise Risk, Risk and Compliance, Operational Risk, Enterprise Marketing and Regulatory Change. In this capacity, Ms. McWilliams had extensive interactions with numerous federal and state regulatory agencies, including the Federal Reserve Bank of Cleveland, the FDIC, the Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC).
Before that, Ms. McWilliams served as Chief Counsel and Deputy Staff Director for the U.S. Senate Committee on Banking, Housing, and Urban Affairs where she engaged in oversight of FRB, FDIC, Office of the Comptroller of the Currency (OCC), CFPB, National Credit Union Administration (NCUA), SEC, Commodity Futures Trading Commission (CFTC), Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), U.S. Department of Housing and Urban Development (HUD), FSOC and Office of Financial Research (OFR). She interacted with law enforcement and regulatory agencies, including U.S. Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN).
Previously, Ms. McWilliams served as Assistant Chief Counsel for the U.S. Senate Committee on Small Business and Entrepreneurship where she engaged in oversight of Small Business Administration (SBA) and its lending programs, and served as a principal advisor handling matters related to financial services.
During the 2007–2010 financial crisis, Ms. McWilliams served as a consumer protection attorney at the Federal Reserve Board of Governors where she worked on several rulemakings, including to amend consumer protection regulations under the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transactions Act (FACTA), Gramm-Leach Bliley Act (GLBA) and Credit Card Accountability Responsibility and Disclosure (CARD) Act, as well as bank and third party practices related to section 5 of the Federal Trade Commission (FTC) Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP).
Ms. McWilliams is a frequent speaker on trends and topics in the financial services sector, including bank regulatory policy, governance trends, digital assets, fintechs and early-stage company regulatory policy. She is a past member of the Economic Council of Washington, D.C., and serves on the Board of Trustees of the Southwestern Graduate School of Banking Foundation at Southern Methodist University.
Ms. McWilliams was born in Belgrade, Serbia. She received her B.A. with highest honors from the University of California, Berkeley in 1999 and her J.D. from the University of California, Berkeley, School of Law in 2002.
Education
-
J.D., 2002, University of California, Berkeley, School of LawHighest Honors for JD thesis.
-
B.A., 1999, University of California, BerkeleyAlumni Scholar, Dean's Honor List, High Distinction
Admitted In
- District of Columbia
- California
Organizations
Economic Council of Washington, D.C.
Southwestern Graduate School of Banking Foundation at Southern Methodist University
- Board of Trustees
Rankings
Chambers USA
- Financial Services Regulation: Banking (Compliance) – Nationwide (2024)
Lawdragon
- 500 Leading Global Bankruptcy & Restructuring Lawyers (2024)
- 500 Leading Lawyers in America (2024, 2023)
The Legal 500 US
- Financial Services Regulation (2024, 2023)
Deals & Cases
September 26, 2024
Citi’s $25 Billion Private Credit, Direct Lending Program with Apollo
On September 26, 2024, Citigroup Inc. (“Citi”) and Apollo announced they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies. The program will include participation from Mubadala Investment Company as Apollo’s strategic partner as well as Apollo’s subsidiary, Athene, both of which will have the opportunity to join commitments appropriate for their respective mandates. The firms anticipate the program will finance approximately $25 billion of debt opportunities over the next several years, encompassing both corporate and financial sponsor transactions, and maintain the flexibility to significantly expand the size of the program beyond the initial $25 billion. Cravath is representing Citi in connection with the agreement.
Deals & Cases
July 09, 2024
Silvergate’s Settlement Agreements with the Federal Reserve, California Department of Financial Protection and Innovation and Securities and Exchange Commission
On July 1, 2024, Silvergate announced it has agreed to settlements with the Board of Governors of the Federal Reserve System (“Federal Reserve”), the California Department of Financial Protection and Innovation (“DFPI”) and the Securities and Exchange Commission (“SEC”). In a statement, Silvergate noted its decision to liquidate voluntarily and without government assistance in March 2023, and that, as of November 2023, all deposits had been repaid to banking customers, soon after which Silvergate ceased banking operations. The announced settlements, which facilitate the surrender of Silvergate’s bank charter, are part of the Bank’s continued orderly wind down and conclude investigations by the Federal Reserve, DFPI, and SEC. Cravath represented Silvergate in connection with the investigations, resulting settlements, and voluntary liquidation.
Activities
November 21, 2024
Jelena McWilliams Moderates Panel at FinRegLab’s 2024 AI Symposium
Cravath partner Jelena McWilliams participated in FinRegLab’s 2024 AI Symposium, which was held on November 21, 2024, in Washington, D.C. The event convened leaders in financial services, technology and public policy to engage with key topics surrounding the risks and opportunities created by AI in the financial services landscape. Jelena moderated a panel entitled “Beyond Innovation for Innovation’s Sake: Building with and For People’s Financial Lives,” in which panelists discussed the potential they see with AI, how to place appropriate safeguards and design around consumer well-being and the challenges policymakers face in guiding the technology.
Activities
November 21, 2024
Jelena McWilliams Speaks at American Fintech Council’s 2024 Policy Summit
On November 19, 2024, Cravath partner Jelena McWilliams participated in the American Fintech Council’s 2024 Policy Summit in Washington, D.C. The event convened industry leaders, academics, consumer groups and policymakers to discuss emerging trends and the future of financial technology. Jelena was featured in a keynote fireside chat entitled “An Update on Responsible Regulation for Smart Innovation.”
Activities
November 14, 2024
Jelena McWilliams Speaks at The Clearing House’s 2024 Annual Conference
On November 12, 2024, Cravath partner Jelena McWilliams participated in The Clearing House’s 2024 Annual Conference, which was held from November 12‑13 in New York. The event convened senior financial services executives, policymakers, technology companies and professional services firms to discuss strategic issues, challenges and opportunities for financial institutions. Jelena spoke on a panel entitled “Whose Business Judgement? The Intersection of Regulation, Independent Risk Management, and Innovation,” which reviewed the expanded complexity of bank regulation and related supervisory requirements and considered how regulated financial institutions can embrace a culture of compliance while reducing bureaucracy.
Activities
October 29, 2024
Jelena McWilliams Speaks at Money20/20
Cravath partner Jelena McWilliams participated in Money20/20 USA, a conference hosted by Ascential from October 27‑30, 2024, in Las Vegas. Jelena was featured in a session entitled “Unraveling the Synapse Knot: A Candid Conversation with Trustee Jelena McWilliams,” during which she discussed her role as chapter 11 trustee in the bankruptcy case of Synapse, the increased regulatory scrutiny of Banking‑as‑a‑Service and the best way to simultaneously encourage positive innovation and give fintech consumers reassurance about the safety of the products. She also joined a conversation entitled “When Did We Become the Enemy? Between Two Regulators,” which explored public tensions around tech, bank partnerships, bank regulation and responsible access to credit, banking and economic inclusion.
Activities
October 24, 2024
Jelena McWilliams Discusses Fintech Landscape on Bloomberg TV
On October 23, 2024, Cravath partner Jelena McWilliams was featured on Bloomberg TV’s “Bloomberg Crypto.” In the interview, she discussed the future of crypto regulation in the U.S. and the importance of tools to help consumers understand how deposit insurance affects accounts held at Fintech companies. She also provided an update on Synapse Financial Technologies, Inc.’s ongoing chapter 11 proceedings.
Jelena McWilliams is Managing Partner of the Washington, D.C. office and Head of the Financial Institutions Group (FIG) Practice. She is a former Chairman of the Federal Deposit Insurance Corporation (FDIC). Ms. McWilliams focuses her practice on advising public and private companies, financial institutions, fintechs, and early-stage and venture companies on regulatory and corporate matters, as well as on mergers and acquisitions, IPO and other capital markets transactions.
While at the FDIC, Ms. McWilliams managed over 6,000 employees supervising approximately 5,000 banks, including through the COVID-19 pandemic. She participated in interagency negotiations, policy developments and joint agency rulemakings both as agency principal and as a voting member of the Financial Stability Oversight Council (FSOC). Ms. McWilliams chaired the Resolution Group at the Financial Stability Board (FSB); chaired and served on the Federal Financial Institutions Examination Council (FFIEC); and served on the Financial and Banking Information Infrastructure Committee (FBIIC). She testified before U.S. Congress on numerous occasions and engaged extensively with U.S. and international regulators, including the Basel Committee on Banking Supervision and the International Association of Deposit Insurers. She established the agency’s first office of innovation to implement technological advancements through supervisory channels and collaborative partnerships between banks and fintechs. Ms. McWilliams also spearheaded the agency’s effort to develop prudential banking policy on digital assets, including through a “crypto sprint” with the Office of the Currency Comptroller (OCC) and the Federal Reserve Board (FRB), and in collaboration with the President’s Working Group multiagency effort on stablecoins. She envisioned and created Mission Driven Bank Fund, a novel private/public partnership investment fund to support investments in low- and moderate-income communities served by the Minority Depository Institutions and Community Development Financial Institutions.
Prior to her tenure as FDIC Chairman, Ms. McWilliams served as Executive Vice President, Chief Legal Officer and Corporate Secretary for Fifth Third Bank (FITB) where she managed over 100 lawyers and legal staff, oversaw legal and regulatory matters, and served on the Enterprise Committee and several internal committees, including Management Compliance, Enterprise Risk, Risk and Compliance, Operational Risk, Enterprise Marketing and Regulatory Change. In this capacity, Ms. McWilliams had extensive interactions with numerous federal and state regulatory agencies, including the Federal Reserve Bank of Cleveland, the FDIC, the Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC).
Before that, Ms. McWilliams served as Chief Counsel and Deputy Staff Director for the U.S. Senate Committee on Banking, Housing, and Urban Affairs where she engaged in oversight of FRB, FDIC, Office of the Comptroller of the Currency (OCC), CFPB, National Credit Union Administration (NCUA), SEC, Commodity Futures Trading Commission (CFTC), Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), U.S. Department of Housing and Urban Development (HUD), FSOC and Office of Financial Research (OFR). She interacted with law enforcement and regulatory agencies, including U.S. Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN).
Previously, Ms. McWilliams served as Assistant Chief Counsel for the U.S. Senate Committee on Small Business and Entrepreneurship where she engaged in oversight of Small Business Administration (SBA) and its lending programs, and served as a principal advisor handling matters related to financial services.
During the 2007–2010 financial crisis, Ms. McWilliams served as a consumer protection attorney at the Federal Reserve Board of Governors where she worked on several rulemakings, including to amend consumer protection regulations under the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transactions Act (FACTA), Gramm-Leach Bliley Act (GLBA) and Credit Card Accountability Responsibility and Disclosure (CARD) Act, as well as bank and third party practices related to section 5 of the Federal Trade Commission (FTC) Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP).
Ms. McWilliams is a frequent speaker on trends and topics in the financial services sector, including bank regulatory policy, governance trends, digital assets, fintechs and early-stage company regulatory policy. She is a past member of the Economic Council of Washington, D.C., and serves on the Board of Trustees of the Southwestern Graduate School of Banking Foundation at Southern Methodist University.
Ms. McWilliams was born in Belgrade, Serbia. She received her B.A. with highest honors from the University of California, Berkeley in 1999 and her J.D. from the University of California, Berkeley, School of Law in 2002.
While at the FDIC, Ms. McWilliams managed over 6,000 employees supervising approximately 5,000 banks, including through the COVID-19 pandemic. She participated in interagency negotiations, policy developments and joint agency rulemakings both as agency principal and as a voting member of the Financial Stability Oversight Council (FSOC). Ms. McWilliams chaired the Resolution Group at the Financial Stability Board (FSB); chaired and served on the Federal Financial Institutions Examination Council (FFIEC); and served on the Financial and Banking Information Infrastructure Committee (FBIIC). She testified before U.S. Congress on numerous occasions and engaged extensively with U.S. and international regulators, including the Basel Committee on Banking Supervision and the International Association of Deposit Insurers. She established the agency’s first office of innovation to implement technological advancements through supervisory channels and collaborative partnerships between banks and fintechs. Ms. McWilliams also spearheaded the agency’s effort to develop prudential banking policy on digital assets, including through a “crypto sprint” with the Office of the Currency Comptroller (OCC) and the Federal Reserve Board (FRB), and in collaboration with the President’s Working Group multiagency effort on stablecoins. She envisioned and created Mission Driven Bank Fund, a novel private/public partnership investment fund to support investments in low- and moderate-income communities served by the Minority Depository Institutions and Community Development Financial Institutions.
Prior to her tenure as FDIC Chairman, Ms. McWilliams served as Executive Vice President, Chief Legal Officer and Corporate Secretary for Fifth Third Bank (FITB) where she managed over 100 lawyers and legal staff, oversaw legal and regulatory matters, and served on the Enterprise Committee and several internal committees, including Management Compliance, Enterprise Risk, Risk and Compliance, Operational Risk, Enterprise Marketing and Regulatory Change. In this capacity, Ms. McWilliams had extensive interactions with numerous federal and state regulatory agencies, including the Federal Reserve Bank of Cleveland, the FDIC, the Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC).
Before that, Ms. McWilliams served as Chief Counsel and Deputy Staff Director for the U.S. Senate Committee on Banking, Housing, and Urban Affairs where she engaged in oversight of FRB, FDIC, Office of the Comptroller of the Currency (OCC), CFPB, National Credit Union Administration (NCUA), SEC, Commodity Futures Trading Commission (CFTC), Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), U.S. Department of Housing and Urban Development (HUD), FSOC and Office of Financial Research (OFR). She interacted with law enforcement and regulatory agencies, including U.S. Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN).
Previously, Ms. McWilliams served as Assistant Chief Counsel for the U.S. Senate Committee on Small Business and Entrepreneurship where she engaged in oversight of Small Business Administration (SBA) and its lending programs, and served as a principal advisor handling matters related to financial services.
During the 2007–2010 financial crisis, Ms. McWilliams served as a consumer protection attorney at the Federal Reserve Board of Governors where she worked on several rulemakings, including to amend consumer protection regulations under the Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transactions Act (FACTA), Gramm-Leach Bliley Act (GLBA) and Credit Card Accountability Responsibility and Disclosure (CARD) Act, as well as bank and third party practices related to section 5 of the Federal Trade Commission (FTC) Act, which prohibits banks from engaging in unfair or deceptive acts or practices (UDAP).
Ms. McWilliams is a frequent speaker on trends and topics in the financial services sector, including bank regulatory policy, governance trends, digital assets, fintechs and early-stage company regulatory policy. She is a past member of the Economic Council of Washington, D.C., and serves on the Board of Trustees of the Southwestern Graduate School of Banking Foundation at Southern Methodist University.
Ms. McWilliams was born in Belgrade, Serbia. She received her B.A. with highest honors from the University of California, Berkeley in 1999 and her J.D. from the University of California, Berkeley, School of Law in 2002.
Education
-
J.D., 2002, University of California, Berkeley, School of LawHighest Honors for JD thesis.
-
B.A., 1999, University of California, BerkeleyAlumni Scholar, Dean's Honor List, High Distinction
Admitted In
- District of Columbia
- California
Organizations
Economic Council of Washington, D.C.
Southwestern Graduate School of Banking Foundation at Southern Methodist University
- Board of Trustees
Rankings
Chambers USA
- Financial Services Regulation: Banking (Compliance) – Nationwide (2024)
Lawdragon
- 500 Leading Global Bankruptcy & Restructuring Lawyers (2024)
- 500 Leading Lawyers in America (2024, 2023)
The Legal 500 US
- Financial Services Regulation (2024, 2023)
Deals & Cases
September 26, 2024
Citi’s $25 Billion Private Credit, Direct Lending Program with Apollo
On September 26, 2024, Citigroup Inc. (“Citi”) and Apollo announced they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies. The program will include participation from Mubadala Investment Company as Apollo’s strategic partner as well as Apollo’s subsidiary, Athene, both of which will have the opportunity to join commitments appropriate for their respective mandates. The firms anticipate the program will finance approximately $25 billion of debt opportunities over the next several years, encompassing both corporate and financial sponsor transactions, and maintain the flexibility to significantly expand the size of the program beyond the initial $25 billion. Cravath is representing Citi in connection with the agreement.
Deals & Cases
July 09, 2024
Silvergate’s Settlement Agreements with the Federal Reserve, California Department of Financial Protection and Innovation and Securities and Exchange Commission
On July 1, 2024, Silvergate announced it has agreed to settlements with the Board of Governors of the Federal Reserve System (“Federal Reserve”), the California Department of Financial Protection and Innovation (“DFPI”) and the Securities and Exchange Commission (“SEC”). In a statement, Silvergate noted its decision to liquidate voluntarily and without government assistance in March 2023, and that, as of November 2023, all deposits had been repaid to banking customers, soon after which Silvergate ceased banking operations. The announced settlements, which facilitate the surrender of Silvergate’s bank charter, are part of the Bank’s continued orderly wind down and conclude investigations by the Federal Reserve, DFPI, and SEC. Cravath represented Silvergate in connection with the investigations, resulting settlements, and voluntary liquidation.
Activities
November 21, 2024
Jelena McWilliams Moderates Panel at FinRegLab’s 2024 AI Symposium
Cravath partner Jelena McWilliams participated in FinRegLab’s 2024 AI Symposium, which was held on November 21, 2024, in Washington, D.C. The event convened leaders in financial services, technology and public policy to engage with key topics surrounding the risks and opportunities created by AI in the financial services landscape. Jelena moderated a panel entitled “Beyond Innovation for Innovation’s Sake: Building with and For People’s Financial Lives,” in which panelists discussed the potential they see with AI, how to place appropriate safeguards and design around consumer well-being and the challenges policymakers face in guiding the technology.
Activities
November 21, 2024
Jelena McWilliams Speaks at American Fintech Council’s 2024 Policy Summit
On November 19, 2024, Cravath partner Jelena McWilliams participated in the American Fintech Council’s 2024 Policy Summit in Washington, D.C. The event convened industry leaders, academics, consumer groups and policymakers to discuss emerging trends and the future of financial technology. Jelena was featured in a keynote fireside chat entitled “An Update on Responsible Regulation for Smart Innovation.”
Activities
November 14, 2024
Jelena McWilliams Speaks at The Clearing House’s 2024 Annual Conference
On November 12, 2024, Cravath partner Jelena McWilliams participated in The Clearing House’s 2024 Annual Conference, which was held from November 12‑13 in New York. The event convened senior financial services executives, policymakers, technology companies and professional services firms to discuss strategic issues, challenges and opportunities for financial institutions. Jelena spoke on a panel entitled “Whose Business Judgement? The Intersection of Regulation, Independent Risk Management, and Innovation,” which reviewed the expanded complexity of bank regulation and related supervisory requirements and considered how regulated financial institutions can embrace a culture of compliance while reducing bureaucracy.
Activities
October 29, 2024
Jelena McWilliams Speaks at Money20/20
Cravath partner Jelena McWilliams participated in Money20/20 USA, a conference hosted by Ascential from October 27‑30, 2024, in Las Vegas. Jelena was featured in a session entitled “Unraveling the Synapse Knot: A Candid Conversation with Trustee Jelena McWilliams,” during which she discussed her role as chapter 11 trustee in the bankruptcy case of Synapse, the increased regulatory scrutiny of Banking‑as‑a‑Service and the best way to simultaneously encourage positive innovation and give fintech consumers reassurance about the safety of the products. She also joined a conversation entitled “When Did We Become the Enemy? Between Two Regulators,” which explored public tensions around tech, bank partnerships, bank regulation and responsible access to credit, banking and economic inclusion.
Activities
October 24, 2024
Jelena McWilliams Discusses Fintech Landscape on Bloomberg TV
On October 23, 2024, Cravath partner Jelena McWilliams was featured on Bloomberg TV’s “Bloomberg Crypto.” In the interview, she discussed the future of crypto regulation in the U.S. and the importance of tools to help consumers understand how deposit insurance affects accounts held at Fintech companies. She also provided an update on Synapse Financial Technologies, Inc.’s ongoing chapter 11 proceedings.
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