Previously employed General Counsel at SoFi appointed as Chief Counsel at the Office of the Comptroller of the Currency (OCC)
In a recent announcement, Adam Cohen has been appointed as the Senior Deputy Comptroller and Chief Counsel at the Office of the Comptroller of the Currency (OCC). Cohen will join the OCC on August 11, leaving his position at the law firm Skadden, Arps, Slate, Meagher & Flom LLP.
Cohen's extensive experience in banking law and regulation, coupled with his hands-on experience in fintech, brings tremendous value to the OCC. His role at the OCC involves overseeing the agency's legal functions and advising on regulatory policies that impact the banking industry, including fintech disruption.
Cohen's background in fintech is particularly relevant. He previously served as General Counsel at SoFi, a leading fintech company that obtained its OCC charter. Prior to SoFi, Cohen served as Counsel to the Banking Regulation and Policy Group of the Federal Reserve Board. He also worked for the Commodity Futures Trading Commission's division of clearing and risk.
In his new role, Cohen will provide legal analyses and advisory services on bank supervision, enforcement, administrative, litigation, and licensing actions. He will serve on the OCC's executive committee and provide advice to Comptroller Jonathan Gould and other senior OCC executives.
Comptroller Gould expressed gratitude to Cohen for the opportunity to support a safe and sound banking system at the OCC. He stated that Cohen's expertise will strengthen the OCC's efforts to improve bank supervision, embrace innovation, and promote fair access to financial services.
Cohen, in his LinkedIn post, expressed excitement about promoting innovation and fair access to financial services at the OCC. He has advised global and regional banks, fintech, and other financial institutions on regulatory matters, including advising BlackRock on its $12 billion acquisition of HPS Investment Partners and its $3 billion acquisition of Global Infrastructure Partners, and advising Citi on its separation of Banamex and Fortress Investment Group on its investment in bank holding company First Foundation.
With Cohen's appointment, the OCC is well-positioned to navigate the challenges posed by fintech disruption while ensuring regulatory compliance, risk management, and consumer protection. His legal and regulatory expertise positions him as a pivotal figure in the intersection of traditional banking regulation and fintech disruption.
Building on his extensive background in fintech, Cohen will leverage his experience to provide legal strategies and advice on bank supervision, enforcement, and licensing actions at the OCC. Furthermore, his expertise in technology-driven businesses and innovative financial services is expected to contribute significantly to the OCC's mission to promote fair access to financial services and address the challenges of fintech disruption.
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