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Attorney - Consumer Banking

Charlotte, North Carolina;

Job Description:

The Deposit Products group within the Consumer and Small Business Banking team of the Legal Department of Bank of America is looking for a highly motivated attorney to join their team. Working with senior attorneys, the successful candidate will primarily support the consumer banking business with a focus on Consumer Deposits Products, Consumer Small Dollar Loans, Consumer Payment Products and Digital Banking, which involves responsibility for a wide range of activities related to development and maintenance of products and services.

The position will support issues related to:

  • Checking, savings, CD and debit products

  • Digital delivery of product disclosures

  • Digital account opening and servicing (e.g. Mobile Check Deposit, ERICA)

  • The Bank’s small dollar loan product

  • Negotiation of agreements for payment products and services

  • Web and ATM accessibility

  • Funds availability and compliance with Regulation CC

  • Analysis of issues raised by a variety of laws and regulations impacting consumer deposits,  payments and small dollar loan products including eSign, Reg B, Reg D, Reg E, Reg CC, Reg DD, Reg II, Reg P, Reg Z, FCRA, and UDAAP

The job responsibilities:

  • Advising product development and management teams on regulatory and legal issues

  • Interacting closely with business, risk, compliance and audit partners on new product launches, existing products and services and emerging issues and regulatory matters

  • Drafting, reviewing and negotiating agreements, legal contracts and other documents

  • Drafting consumer disclosures and user agreements

  • Reviewing marketing and customer communications

  • Supporting responses to regulatory exams and inquiries

  • Commenting and monitoring legislative developments, including working with trade associations, and the Bank’s public policy team

  • Collaborating with legal partners supporting consumer products, customer channels, credit/underwriting, and privacy as needed

  • Monitoring legal and regulatory developments impacting consumer deposits products and services, including via legal research

  • Participating in governance routines and forums

  • Reviewing policies, procedures, processes and training materials for customer-facing associates.

Job Requirements:

  • JD from an accredited law school and strong academic credentials

  • Active state bar license

  • A minimum of 5 years of experience with a national financial company or within a law firm performing similar functions with experience in dealing with consumer financial services and knowledge of the consumer payment ecosystem

  • Familiarity with some or all of the laws governing consumer products (Reg DD, Reg E, Reg D, Reg CC, UDAAP, Reg P, FCRA, TCPA, Reg Z, and Reg B)

  • Strong organizational and communication skills, sound business judgment and ability to be an effective team member

  • Excellent written and oral communication skills

  • Must be able to work independently and interface effectively with clients and Risk, Legal and Compliance partners in multiple locations and time zones

  • Must be capable of handling multiple tasks amidst pressing deadlines; managing a substantial workload and client expectations, and interacting with associates and management at all levels

  • Must be able to accommodate deadlines that may extend beyond normal business hours

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Deposit Products group within the Consumer and Small Business Banking team of the Legal Department of Bank of America is looking for a highly motivated attorney to join their team. Working with senior attorneys, the successful candidate will primarily support the consumer banking business with a focus on Consumer Deposits Products, Consumer Small Dollar Loans, Consumer Payment Products and Digital Banking, which involves responsibility for a wide range of activities related to development and maintenance of products and services.

The position will support issues related to:

  • Checking, savings, CD and debit products

  • Digital delivery of product disclosures

  • Digital account opening and servicing (e.g. Mobile Check Deposit, ERICA)

  • The Bank’s small dollar loan product

  • Negotiation of agreements for payment products and services

  • Web and ATM accessibility

  • Funds availability and compliance with Regulation CC

  • Analysis of issues raised by a variety of laws and regulations impacting consumer deposits,  payments and small dollar loan products including eSign, Reg B, Reg D, Reg E, Reg CC, Reg DD, Reg II, Reg P, Reg Z, FCRA, and UDAAP

The job responsibilities:

  • Advising product development and management teams on regulatory and legal issues

  • Interacting closely with business, risk, compliance and audit partners on new product launches, existing products and services and emerging issues and regulatory matters

  • Drafting, reviewing and negotiating agreements, legal contracts and other documents

  • Drafting consumer disclosures and user agreements

  • Reviewing marketing and customer communications

  • Supporting responses to regulatory exams and inquiries

  • Commenting and monitoring legislative developments, including working with trade associations, and the Bank’s public policy team

  • Collaborating with legal partners supporting consumer products, customer channels, credit/underwriting, and privacy as needed

  • Monitoring legal and regulatory developments impacting consumer deposits products and services, including via legal research

  • Participating in governance routines and forums

  • Reviewing policies, procedures, processes and training materials for customer-facing associates.

Job Requirements:

  • JD from an accredited law school and strong academic credentials

  • Active state bar license

  • A minimum of 5 years of experience with a national financial company or within a law firm performing similar functions with experience in dealing with consumer financial services and knowledge of the consumer payment ecosystem

  • Familiarity with some or all of the laws governing consumer products (Reg DD, Reg E, Reg D, Reg CC, UDAAP, Reg P, FCRA, TCPA, Reg Z, and Reg B)

  • Strong organizational and communication skills, sound business judgment and ability to be an effective team member

  • Excellent written and oral communication skills

  • Must be able to work independently and interface effectively with clients and Risk, Legal and Compliance partners in multiple locations and time zones

  • Must be capable of handling multiple tasks amidst pressing deadlines; managing a substantial workload and client expectations, and interacting with associates and management at all levels

  • Must be able to accommodate deadlines that may extend beyond normal business hours

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22001983

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jeri Risin

Referral Bonus:

0