Eugene Frenkel is an associate in Goodwin’s Financial Industry group. As a member of the firm’s Insurtech and Fintech practices, Mr. Frenkel counsels clients on enforcement, regulatory, and transactional issues in the financial services, banking, and insurance industries. Mr. Frenkel brings over four years of enforcement experience with the New York State Department of Financial Services (“NYDFS”), where he managed and led complex multi-jurisdictional investigations and collaborated with other federal and state regulatory authorities, including the Federal Reserve, Financial Crimes Enforcement Network, Federal Deposit Insurance Corporation, New York State Attorney General’s Office, and New York State Department of Taxation and Finance.

Mr. Frenkel advises companies in the financial services and insurance industries on regulatory and transactional matters and responds to regulatory investigations and inquiries. He helps design compliant consumer financial products and services and evaluates the regulatory risks of those products, including lending, credit cards, payments, and earned wage access products. For companies in emerging industries, he advises on whether licenses or registrations are necessary. He also counsels banks, money transmitters, money service businesses, and cryptocurrency companies on compliance with the Bank Secrecy Act, Anti-Money Laundering, and other applicable laws and regulations.  

In addition to his practice, Mr. Frenkel serves in senior-level leadership roles with the New York County Lawyers’ Association and New York American Inn of Court, spearheading programs and events and managing the long-term and day-to-day activities of both organizations.

Areas of Practice
业务范围
Domaines D’Expertise
TÄTIGKEITSFELDER

Experience

工作经历

EXPÉRIENCE

ERFAHRUNG

Professional Experience

Mr. Frenkel served as an Assistant Deputy Superintendent in the Enforcement Division of NYDFS where he managed and led multiple complex investigations into the banking, insurance, and consumer industries, engaged in settlement negotiations, and drafted charges for violations of federal and state law. Mr. Frenkel brought enforcement actions against banks for failing to comply with federal and state anti-money laundering laws and regulations and insurance companies for failing to comply with licensing and anti-rebating laws. Mr. Frenkel investigated fintechs, cryptocurrency platforms, and other companies offering cutting-edge financial services products and ensured that products and services were consumer-friendly and compliant with state law. Mr. Frenkel brought the first action by the NYDFS against a debt collector for failing to comply with NYDFS’s debt collection regulation. Mr. Frenkel also drafted and proposed laws and regulations, including the Student Debt Consultant bill which went into effect in 2020. Mr. Frenkel advised other business units on supervision and examination issues.

Mr. Frenkel’s regulatory and enforcement work covers credit cards, loan products, money transmission, payments, digital currencies, and insurance. He assists clients with product development, compliance, and responding to regulator subpoenas and inquiries.

Professional Activities

Mr. Frenkel serves as Vice President, Treasurer, and Secretary of the New York American Inn of Court, managing the day-to-day activities of the organization. He is also the co-chair of the Young Lawyers Section and a member of the Board of Directors for the New York County Lawyers’ Association.

Credentials

专业资格

RÉFÉRENCES

WERDEGANG

Education

J.D., 2017
Benjamin N. Cardozo School of Law
 (cum laude)
B.B.A., Economics, 2014
Baruch College Zicklin School of Business

Admissions

Bar

New York

Courts

U.S. District Court for the Eastern District of New York
U.S. District Court for the Southern District of New York
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