Former CFPB Associate Director Bryan Schneider brings unparalleled regulatory experience to the firm’s expanding hybridized financial services group
Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, announced today that Bryan A. Schneider has joined Manatt Financial Services in its consumer financial services practice.
“Drawing from his extensive experience providing both legal and consulting services, Bryan will work closely with nationally known former California state financial services regulator Jan Owen to deepen our unique hybridized model and further cement Manatt as the professional services firm of the future.”
Joining as a partner in Chicago, Schneider has deep regulatory roots and comes to Manatt from the Consumer Financial Protection Bureau (CFPB), where he led the Supervision, Enforcement and Fair Lending division as Associate Director. Before that, he was the top official at the Illinois Department of Financial and Professional Regulation, where he served as Secretary and was a member of the Governor’s Cabinet.
“We’re thrilled to welcome Bryan as the latest addition to our rapidly expanding and nationally ranked Financial Services Group, which most recently welcomed one of the nation’s foremost authorities on education financing, Jonathan Joshua, in New York and preeminent regulatory attorney Joe Reilly in Washington, D.C.,” said Donna L. Wilson, Manatt’s CEO and Managing Partner. “Drawing from his extensive experience providing both legal and consulting services, Bryan will work closely with nationally known former California state financial services regulator Jan Owen to deepen our unique hybridized model and further cement Manatt as the professional services firm of the future.”
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Schneider’s practice focuses on advising clients through the gamut of consumer financial services regulatory and enforcement matters, particularly as it relates to supervision, enforcement and fair lending. Through his work managing and approving actions for statutory and regulatory violations at the CFPB, Schneider has extensive experience overseeing issues related to student loan origination and servicing, mortgage origination/servicing, auto finance, credit card account management, debt collection, and payday and other small dollar lending. He also brings a unique perspective for clients as a former member of key interagency governing organizations at the CFPB, including the Task Force of Supervision of the Federal Financial Institutions Examination Council.
“Financial institutions—from traditional banks to pioneering fintechs and nonbank providers—are currently experiencing significantly more regulation and increased risk of punitive enforcement proceedings,” said Manatt Financial Services Leader Craig D. Miller. “Through his firsthand experience, Bryan has an unmatched understanding of this complex regulatory and enforcement environment, which will be a boon to our clients and our Chambers-ranked consumer financial services practice—led by Partner Richard Gottlieb—and fintech capabilities—led by Partner Brian Korn.”
“Bryan’s many accomplishments in Illinois and his long history of leadership within the region make him an excellent addition to our Chicago office and will bring immense value to both our Midwest-based and national clients in a variety of industries, from financial services to health care,” said Partner Linda Moroney, head of Manatt’s Chicago office.
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As Secretary of the Illinois Department of Financial and Professional Regulation, Schneider was a member of former Governor Bruce Rauner’s Cabinet. During this four-year term, Schneider led numerous initiatives to place the state at the forefront of innovation in the financial services industry, including leading the conversion to the first-ever online, paperless process for professional licensure and achieving the first credit union section accreditation by the National Association of State Credit Union Supervisors. He also led the creation of the Illinois Blockchain Initiative, where he advised organizations on how they can leverage blockchain technology to create more efficient, integrated and trusted services.
“During my time in government, I had the pleasure of meeting and getting to know Bryan, and I have particularly admired his work leading the modernization of Illinois’ financial services industry,” said Jan Owen, Manatt Financial Services senior advisor and the former Commissioner of California’s Department of Business Oversight (now known as the Department of Financial Protection and Innovation). “His understanding of supervisory and enforcement actions, the evolving global marketplace lending industry, and the burgeoning digital asset class—not to mention his accomplished background in both the public and private sectors—makes him an invaluable asset for our clients. I look forward to working closely with him again.”
Prior to his service in government, Schneider also held health care-related leadership positions at one of the largest retail, infusion and specialty pharmacy providers in the U.S. In that role, he evaluated service offerings for senior executives through both a regulatory and a business lens. He helped develop policies concerning health care services and reimbursement, and provided regulatory and transactional support for joint ventures with hospitals, health systems and 340B programs. He also served on Corporate Compliance and Disclosure Committees responsible for ensuring compliance with applicable health care and SEC securities requirements.
“I was immediately attracted to Manatt’s unique professional services model,” said Schneider. “I look forward to the opportunity to work with respected lawyers, consultants and former government officials who are supporting Manatt clients as they create and operationalize compliant solutions for their most complex and pressing needs in the highly regulated industries in which Manatt focuses, including in financial services.”
In addition to the recent growth of Manatt Financial Services, the firm has also been strategically expanding its roster of legal and business consulting professionals across other practices, including prominent tech and financial services consultant Jen Millard, entrepreneur and consultant Kalon Gutierrez and new media Partner Farnaz M. Alemi. Additionally, the firm most recently welcomed accomplished New York real estate Partner Ted Hunter, nationally-recognized trial attorney Naeun Rim, D.C.-based health care professionals Linda Elam and Blair M. Cantfil, Manatt Digital and Technology Partners Thomas W. Michael and Rustin M. Brown in LA and D.C., respectively, Boston-based sports executive Matthew L. Reece, President Emeritus of the Association of American Medical Colleges Dr. Darrell G. Kirch in D.C. and health care Partner Brian D. Bewley.
Schneider has served on the Executive Committee of the Conference of State Bank Supervisors (CSBS) and chaired its Non-Depository Supervisory Committee. He also served on the committee that was responsible for the administration of the Nationwide Multistate Licensing System & Registry (NMLS). Additionally, Schneider served on the Executive Committee of the National Association of State Credit Union Supervisors (NASCUS). He earned his bachelor’s degree from Trine University, his master’s from DePaul University and his juris doctorate from University of Wisconsin Law School.
