Banking & Financial Services

Practice Overview

Drummond Woodsum’s attorneys recognize the unique and complex needs of financial institutions and other financial service providers, particularly in light of the ever-changing landscapes that they face.  As both outside general counsel and litigation counsel for financial service providers of all sizes and structures, DrummondWoodsum’s attorneys advise those organizations in all areas of operation – ranging from regulatory compliance and corporate governance to mergers and acquisitions, complex financing transactions, creditors’ rights matters, employment law and executive compensation, governmental relations and affairs, and litigation.

General Corporate Services

DrummondWoodsum’s attorneys assist banking and other financial institutions in a wide array of services essential to their business, including formation, bonding, mergers and acquisitions, charter conversions, field of membership, intellectual property, acquisition and sales of real estate (whether used on an operational basis or “other real estate owned (OREO)”, labor and employment (including executive compensation), service contracts and technology licensing matters.

Regulatory Compliance

As regulatory standards evolve, DrummondWoodsum attorneys work with financial institutions to develop strategies and implement processes designed to meet business objectives in a compliant manner.  DrummondWoodsum’s attorneys advise its financial services clients on consumer regulatory compliance matters and anti-discrimination laws, including those arising under the Truth in Lending Act and Regulation Z, the Real Estate Settlement Procedures Act, the Fair Debt Collection Practices Act, Equal Credit Opportunity Act, Fair Housing Act, and other regulations of the Bureau of Consumer Protection, and provide state-level advocacy to ensure that legislation meets the needs of financial institutions while balancing consumer interests.

Commercial Lending

In addition to traditional commercial lending, DrummondWoodsum’s expertise extends to a broad range of specialized financings such as asset-based lending, project finance, tribal finance, mezzanine financing, real estate financing, direct and indirect lending to regulated service providers (e.g. cannabis), and other forms of lending.  DrummondWoodsum’s attorneys negotiate, draft and close lending and financing transactions of these types across the broad spectrum, and do so with an understanding and appreciation for the fact that these loan transactions form a bond between the institution and its borrowers and other interest holders.

Bankruptcy and Creditors’ Rights

DrummondWoodsum’s Bankruptcy and Creditors’ Rights attorneys routinely represent secured and unsecured lenders in all manners of commercial and consumer collection, workout and foreclosure matters (whether judicial or non-judicial), bankruptcy (whether Chapter 11 reorganizations, Chapter 7 liquidations, or Chapter 12 or 13 wage earner cases), receivership appointment, loan sales, and enforcement of creditors’ rights in probate matters.

Public Finance

DrummondWoodsum serves as bond counsel, issuer’s counsel, and tax counsel on behalf of municipalities, school districts, and other governmental entities throughout Maine and New Hampshire in governmental financing transactions.  DrummondWoodsum is listed in the Red Book of municipal bond attorneys and is approved as bond counsel by the Maine Municipal Bond Bank and New Hampshire Municipal Bond Bank.  Additionally, DrummondWoodsum attorneys advise other public sector clients in the areas of school and municipal finance, including local budget authorization, tax assessment, education funding, reorganization, employee benefits, public bidding, and procurement.