Richard has more than 20 years of experience helping financial institution clients of all sizes (some spanning multiple states and countries) with a broad range of complex legal matters, including the development of new products and services, operational issues, merger transitions, and the drafting and negotiating of numerous types of contracts and forms.
Representative Experience
- Experienced in banking related laws including Regulations DD (Truth in Savings), E (electronic fund transfers), CC (funds availability/check collection), D (reserves/deposit classifications), Q (interest on demand deposits), P (privacy), and W (affiliate transactions); FDIC insurance regs; Fair Credit Reporting Act; USA PATRIOT Act; Electronic Signatures Act; CAN-SPAM (e-mail law); and various state laws including UCC Articles 3, 4 and 4A
- Extensive knowledge of checking, savings and CD accounts, Health Savings Accounts, asset management sweep accounts, and services such as online and mobile banking, telephone banking, debit cards, ATMs, new payment technologies, night deposits, and numerous types of business treasury/cash management services
- Provided legal advice for entry into new markets and development of numerous new and innovative deposit products and services
- Reviewed/approved thousands of advertising/marketing materials, website screens, policies/procedures and training materials
- Drafted numerous customer agreements, disclosures, contracts, etc., for both domestic and foreign use
- Experienced in drafting and negotiating vendor/outsourcing contracts and confidentiality agreements for financial institutions, and in development of procedures for selecting, contracting with, and overseeing service providers
- Experienced in financial institution “operational” matters such as complaint resolution; litigation management; frauds and forgeries; subpoenas, levies and other legal process; privacy breaches; and issues involving guardianships, powers of attorney, decedent accounts, trusts, wire transfers, safe deposit boxes, minors' accounts, right of setoff, etc.
- Extensive experience with post-merger/acquisition implementation efforts and initiatives designed to standardize products, services, systems, procedures, forms, etc., within a multi-state franchise
- Speaker, 2007 NC Bankers Association Deposit Accounts Seminar
- Author, amicus brief in Johnson v. Service Management Inc., 478 S. E. 2d 63 (SC debt collection case)
- Primary drafter, Regs E and DD sections, American Bankers Association Consumer Financial Services Committee 1999 comment letter on the Federal Reserve's electronic communication proposals
read all representative experience
Prior Legal Experience
Richard began his career as an Associate with McGuire, Woods, Battle & Boothe in Richmond, Virginia from 1987 to 1988. Prior to joining Poyner Spruill, he worked as an Attorney for Bank of America Corporation in Charlotte for 19 years, the last 10 as Assistant General Counsel.