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.
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.