Matthew L Biben (Matt)

Anti-Money Laundering

• Routinely advise banks and non-banks on BSA/AML compliance and enforcement issues including:
• Represented Societe Generale before the FRB and the Federal Reserve Bank of New York and separately before the NYDFS in negotiating a successful settlement regarding the bank’s BSA/AML compliance and risk management programs
• Successfully represented Mashreq Bank in negotiating a favorable settlement with the NYDFS, NYFed, FRB, and OFAC resolving wide ranging BSA/AML and Sanctions issues
• Successfully defended Habib Bank against a $630 million lawsuit by the NYDFS and negotiating a $225 million settlement relating to long-running AML/BSA compliance issues and assisting Habib in winding down the business of their NY branch
• Successfully represented Coinbase in sweeping NYDFS investigation relating to BSA/AML and other compliance issues
• Advised a large foreign bank in responding to the DOJ investigation of Mossack Fonseca & and the “Panama Papers”

Complex Civil Litigation

• Represented FanDuel and DraftKings in a landmark victory in the NY Court of Appeals legalizing interactive fantasy sports in New York State (garnering American Lawyer Litigator of the Week runner-up honors)
• Represent FanDuel in a New York State Court litigation brought on by the former founders of FanDuel relating to merger acquisition violation
• Represent BlackRock in litigation relating to mortgage-era fraud allegations
• Represented Macquarie Asset Management in a joint venture dispute relating to drag-along rights
• Represent leading global investment bank in arbitration relating to a joint venture dispute
• Represented ad hoc 1st lien term lenders in the Mallinckrodt bankruptcy
• Represented FanDuel in a lawsuit and settlement with the New York Attorney General (NYAG) over the legality of daily fantasy sports and later resolving allegations of false advertising whereby the NYAG dropped its claims challenging the legality of FanDuel’s contests after a change in the New York State law permitting daily fantasy sports
• Successfully represented the Chairman of the board of Rio Tinto in a broad ranging SEC investigation into accounting fraud

Banks and Financial Institutions

• In addition to BSA/AML advice, I have extensively advised on bank regulatory compliance and enforcement issues, including the CFPB, the FRB, NYDFS, FDIC, OCC and others, including:
• Successfully represented Truist in a long-running DOJ FIRREA investigation of their trust businesses in a cost-of-litigation settlement where all allegations were denied
• Advised a global bank on fair lender compliance issue in relation to DFS investigation
• Successfully represented a superregional bank in a CFPB into investigation into TISA compliance avoiding an enforcement action
• Represented financial institutions and individuals in SEC investigations, including the Chairman of the Board of a Fortune 100 company
• Represented a leading Fintech company in a CFPB investigation relating to FCRA and UDAAP allegations
• Successfully represented Toyota Financial Services in a DOJ and CFPB investigation and negotiating a favorable settlement relating to the indirect auto lender’s fair lending practices
• Represented a senior executive of one of the largest global banks in a DOJ investigation of RMBS and a separate OCC investigation persuading both agencies after years of investigation to close their investigations without action
• Lead an extensive internal investigation and representing a large foreign bank before the FRB and NYDFS concerning Regulation W compliance issues
• Advised a large foreign bank in responding to a multi-state attorneys general investigation of its auto lending and securitization practices
• Represented senior finance and actuarial employees of AMBAC in SEC investigation of accounting fraud
• Represented the CFO of an insurance company in an investigation before the NYDFS which resulted in the matter being closed without action
• Represented Admirals Bank, as it restructured operations in the face of significant regulatory scrutiny and complex bank regulatory and enforcement issues
• Successfully represented Root Insurance in a New York Attorney General investigation relating to data breach allegations

Governance

• Served as a Director and Chair of the Governance Committee of the largest privately held bank. BNY Melon Corporate Secretary was a direct report. Extensive pro bono governance work. Write and lecture on the topic. A sample of representations include:
• Provided the Board of Directors of multiple financial institutions with advice on their annual self-evaluation as well as broader governance issues including expectations and guidance as applied to bank boards
• Represented the Board of Directors of Bed Bath & Beyond in an internal investigation concerning compensation and disclosure issues

Matthew Biben focuses his practice on complex negotiation and litigation of disputes, including regulatory and enforcement matters on behalf of both individuals and organizations. His diverse litigation practice includes representing financial institutions and FinTech companies in civil disputes, securities and bankruptcy litigation, and complex matters involving the federal government and New York State.

As a former large bank general counsel and federal prosecutor, Matthew routinely acts as counsel in litigated disputes and internal investigations of both domestic and international matters involving, among others, the Department of Justice (DOJ), Securities Exchange Commission (SEC), Federal Reserve Board (FRB), Office of Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), New York Department of Financial Services (NYDFS), state attorneys general and foreign regulators.

Prior to joining private practice, Matthew served for three-and-a-half years at JPMorgan Chase, where he was Executive Vice President and General Counsel for Chase Consumer & Community Banking, which included JPMorgan Chase’s Private Wealth Management, Card and Merchant Services, Auto Finance, Student Loan, Consumer Banking, Business Banking and Mortgage Banking businesses.

Matthew also served as Executive Vice President and Deputy General Counsel of The Bank of New York Mellon Corporation for almost seven years, becoming the second youngest person in BNY’s history to be promoted to Executive Vice President. He also served as BNY Mellon’s Global Head of Litigation and supervised various corporate functions that included the Office of the Corporate Secretary.

Matthew spent the first 12 years of his career in government, serving in the U.S. Attorney’s Office for the Southern District of New York, where he was an Assistant U.S. Attorney in the Criminal Division and received the Attorney General’s Director Award for superior performance. Previously, he was an Assistant District Attorney in the New York County District Attorney’s Office. He argued numerous appeals in the Second Circuit Court of Appeals and was lead counsel in more than 25 federal and state trials.

Mr. Biben has extensive board and community service experience, including serving on the Board of Trustees and the Executive Committee of Cornell University (now Emeritus Trustee); the Board of Overseers of the University of Pennsylvania Law School; Vice Chairman of the Board of Directors of the American Arbitration Association; the Board of New York Lawyers for the Public Interest; the Board of Emigrant Bank; and the Board of Directors and Executive Committee of the New York Legal Assistance Group (“NYLAG”). He has served on Law360 Editorial Board and is a member of the Board of Editors of the New York Law Journal.