Thomas A. BrooksThomas Brooks Clark Hill
Thomas A. Brooks
Thomas A. Brooks concentrates his practice in financial services issues and represents clients before state and federal financial institution regulatory agencies as well as before Congress and the Executive Branch of government. His practice includes a wide variety of matters, including directors and officers liability issues, Dodd-Frank Act mandates, corporate governance requirements, BSA/AML issues, new financial services products, e-commerce, mergers and acquisitions, and a variety of other legislative and regulatory issues.
At the request of its board of directors, Tom led an investigation into the illegal activities by senior management of an undercapitalized bank. The investigation resulted in the prevention of the closing of the bank by the state regulator, led to changes in the corporate governance policies of the bank, and the filing of over 50 criminal referrals with the appropriate governmental agencies. These efforts required extensive negotiations with the state and federal regulators on behalf of the independent directors of the problem bank.
He has represented numerous financial institutions, directors and officers of banks and thrifts, and affiliated parties of depository institutions in enforcement matters brought by financial institution regulators as well as in monetary claims made against such individuals and entities. He was primarily responsible for the settlement of a $50 million claim brought by the FDIC against 34 former directors of a failed New York City bank. The claim was based on violation of laws and regulations, abusive insider transactions and negligence on the part of the directors. Tom led the steering committee of lawyers in these negotiations with the FDIC.
From 1981 to 1984, Tom served as General Counsel of the Federal Deposit Insurance Corporation as well as Legal Advisor of the Federal Financial Institution Examination Council. Prior to that time, he was General Counsel of the U.S. Senate Committee on Banking, Housing and Urban Affairs and Counsel of the Senate Subcommittee on Housing. His practice continues to be heavily involved in federal and state financial services regulatory issues.
Tom has testified before Congress on a variety of issues and has written articles for several publications including the American Banker, Bank Management and Banking Policy Report and was named to the Editorial Advisory Board of E-Money magazine.
Tom attended The Colorado College, where he earned a Bachelor of Arts degree, prior to earning his law degree from Louisiana State University Law School.
Helped owners, investors, lenders and financial-services providers address the enforcement priorities of federal agencies, including the U.S. Department of Justice and the Financial Crimes Enforcement Network (FinCEN). We conduct comprehensive due diligence to ensure that businesses are duly licensed and registered and follow standard practices for the sale of recreational and/or medical marijuana. We also monitor business activities and public sources to identify suspicious activity or other red flags.