Banking & Finance Law
WHAT IS BANKING & FINANCE LAW?
The banking & finance practice refers generally to a practice that serves a wide variety of needs of financiers (the banking and financial institutions industry) and/or borrowers. Attorneys in this area generally serve investment arrangers and/or corporate originators. A banking & finance practitioner may be called upon to advise on matters attendant to the following specialty areas project finance; real estate finance; acquisition finance; insolvence, corporate rescue, & refinancing; and tax concerns.
The following practice area subsets can be considered a part of banking & finance law:
- Commercial Financing: A practice in this area entails representing lenders/borrowers in all types of secured/unsecured financing transactions, including senior, mezzanine, and subordinated debt financings and complex intercreditor and collateral arrangements involving both Uniform Commercial Code security and non-UCC collateral governed by federal and other state law.
- Syndicated Lending Transactions: Attorneys representing arrangers and banks (agent or syndicate) in multiple-lender credit facilities in each of the leveraged, middle market, and investment-grade marketplaces and in connection with structuring revolving, term, swingline, letter of credit, and acceptance facilities fall into this category.
- Multicurrency and Cross-Border Financings: This highly specialized practice area involves representing lenders providing credit facilities with commitments in foreign currencies and structuring cross-border transactions for lenders and for borrowers, including advising with respect to withholding and foreign tax credit issues.
- Investment Banking: Working in this area means representing financial institutions, private equity investors, and other financial entities with respect to the financing of corporate mergers and acquisitions and the public and private placement of securities.
- Financial Institution Regulation: Attorneys with a practice in this area advise financial institutions on regulatory matters under both federal and state law, including the Gramm-Leach-Bliley Act of 1999, the regulation of SBIC affiliates, permitted securities activities, permitted banking activities, and trust and fiduciary activities.
- Bankruptcy: Though often its own practice group, many banking and finance attorneys have a background in bankruptcy, which may include representing clients in collateral dispositions, restructuring, and workout and recovery of assets (whether through negotiated settlements or the bankruptcy process).
- Derivatives: As the name implies, attorneys with a derivatives practice represent lenders/market dealers regarding the documentation of transactions involving a wide range of derivative products, including interest rate swaps, foreign exchange hedges, option transactions, and commodities derivatives.
- Structured Finance: This practice area involves representing trustees, issuers, and underwriters in connection with the securitizations of various asset types, including extensive experience with commercial mortgage and residential mortgage backed securities.
IF YOU'RE INTERESTED IN PURSUING A CAREER IN BANKING & FINANCE LAW...
1. Register for business-related classes such as secured transactions, bankruptcy, or corporations.
2. If you don't have an undergraduate degree in finance or accounting, consider an accounting for lawyers class.
3. Gain practical experience through summer and school year job opportunities with law firms, government agencies, and banks.
5. Sharpen your writing skills and gain valuable experience by externing for a judge during law school.
6. Consider a non-judicial externship. The Chicago Stock Exchange and FINRA are both approved externship sites for Loyola students.
BANKING & FINANCE LAW RESOURCES