Kathleen A. Scott, Esq.
Kathleen A. Scott is counsel in the financial services group at Arnold & Porter. She represents banking clients with respect to the regulatory aspects of mergers and acquisitions, establishment of new banking organizations, non-banking affiliates and other transactions. Ms. Scott concentrates her practice on providing bank advisory legal advice to foreign and domestic banks on a broad range of bank regulatory issues, and interacts regularly with federal and New York state banking regulators. She also counsels banking organizations and other financial institutions on their compliance with federal consumer, privacy, and anti-money laundering legislation and regulations. In addition, she provides US bank regulatory assistance to the firm's transactional practice groups.
Prior to joining the private sector, Ms. Scott served as a senior staff attorney at the New York State Banking Department, where she focused on international banking matters. While at the New York State Banking Department, she also worked on several major enforcement actions, oftentimes in conjunction with other state and federal regulatory agencies, and now in private practice continues to represent clients facing enforcement or other supervisory actions brought by state and federal banking regulators. She also has been a member of the Connecticut Banking Commissioner's working group, dedicated to international banking matters.
Ms. Scott has extensive experience in bank liquidation matters, having assisted in the liquidation of the New York office of the Bank of Credit and Commerce International, S.A., and the liquidation of Nationar, an uninsured "banker's bank" for the thrift industry. She has also co-drafted many of the amendments to the New York Banking Law that were made after each of these liquidations.
Ms. Scott began her career at the United States Department of the Treasury, in the legal division of a Treasury bureau and then in the Office of the Assistant General Counsel for Enforcement, where she concentrated on financial enforcement matters such as anti-money laundering statutes and regulations. At the Department of Treasury, her responsibilities included advising on policy positions, drafting regulations, and speaking to the industry on compliance and enforcement issues. She continues to advise financial institutions, other businesses, and non-profit organizations on compliance with their responsibilities under the US anti-money laundering laws, including the enhancements to these laws enacted as part of the 2001 USA PATRIOT Act.
