February 12, 2019
WASHINGTON, DC—Today FS Vector announced the addition of Amy Friend and David Cotney as senior advisors. They offer a unique mix of state and federal regulatory experience as well as a strong background in dealing with cutting edge fintech matters. They will both advise FS Vector clients on a range of matters, including licensing, regulatory compliance, and strategic partnerships.
I’m both proud and excited to work with Amy Friend and David Cotney,” said FS Vector co-founder Raj Date. “The latticework of federal and state policy is part of what makes the American system so resilient, but it can also be confounding for would-be innovators in financial services. Amy’s decades of leadership in federal financial services policy, both on the Hill and at the OCC, and David’s decades of leadership in state financial services policy, both within Massachusetts but also on behalf of state regulators nationwide, make them perfectly suited to help banks and fintech firms navigate a broad range of regulatory issues.” Date, himself the founding Deputy Director of the Consumer Financial Protection Bureau, added “both Amy and David are rare talents, and I couldn’t be happier that they are helping to build FS Vector.”
Amy Friend previously served as Senior Deputy Comptroller and Chief Counsel at the Office of the Comptroller of the Currency (OCC), where she led the agency’s legal and licensing activities. Beginning In 2015, Friend led the agency’s innovation initiative that resulted in the publication of the OCC’s first white paper on the subject, and subsequently, the formation of the OCC’s Office of Innovation, and the availability of the Special Purpose National Bank Charter for fintech companies. Friend previously served as Managing Director at Promontory Financial Group and as Chief Counsel for the U.S. Senate Committee on Banking, Housing and Urban Affairs. “Amy’s understanding of the US legislative and regulatory framework is unparalleled. Her experience, especially as it related to financial innovation, will serve our clients well. We are fortunate to have her on our team,” said FS Vector CEO John Beccia.
David Cotney previously served as Commissioner of Banks for the Massachusetts Division of Banks where he was responsible for the supervision of nearly 200 state-chartered banks and credit unions. Cotney also served as the Chairman of the State Liaison Committee of the Federal Financial Institutions Examination Council (FFIEC), and as Chairman of the Board of Directors of the Conference of State Bank Supervisors (CSBS). “Financial firms often find it difficult to navigate state licensing and regulatory oversight” said FS Vector Partner John Collins. “David’s experience at the FFIEC and CSBS will be instrumental in working to address these issues from a policy perspective and allow us to assist clients in getting to market,” he added.
The duo will be joined by Bryan Mulcahey who recently started with the firm. Mulcahey was Principal and Chief of Staff of the Anti-Money Laundering & Financial Crimes Division at Promontory Financial Group. Prior to Promontory, he served in the Honors Program in the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations and worked at The Financial Services Roundtable (now the Bank Policy Institute).