Skadden announced that Monica Freas has joined the firm as a partner in its Financial Institutions Regulatory Group, adding more than two decades of senior leadership experience from the Office of the Comptroller of the Currency (OCC). Most recently, Freas served as acting senior deputy comptroller for regional and midsize financial institutions and previously held roles as deputy comptroller for large bank supervision and director of enforcement, overseeing supervision of some of the nation’s largest and most complex financial institutions.
Freas brings extensive experience in bank regulatory and enforcement matters, internal investigations, BSA/AML and sanctions investigations, compliance and risk management, and emerging issues involving blockchain technology, digital assets, and stablecoins. A key focus of her practice will be advising bank charter applicants and payment stablecoin issuers on supervisory matters, including field investigations, pre-opening examinations, full-scope examinations, and regulatory concerns.
Skadden said Freas’ firsthand understanding of how regulators supervise, investigate, and enforce banking rules will provide valuable guidance to clients navigating increasingly complex regulatory environments. Her arrival follows the recent additions of financial institutions partner Michael Reed in New York and derivatives partner Tim Elliott in Chicago, as the firm continues to expand its financial institutions and regulatory capabilities.
Freas earned her Juris Doctor from the University of Washington School of Law and her undergraduate degree from the University of Central Florida.
KEY QUOTES:
“We are delighted to welcome Monica to Skadden. Her extensive experience in banking supervision and enforcement will be a tremendous asset to our clients, particularly for fintechs and digital assets firms obtaining bank charters and undergoing stringent regulatory exams for the first time.”
Mark Chorazak, Head Of The Financial Institutions Regulatory Group, Skadden
“I am excited to join Skadden and to bring my experience to this exceptional group. My background in supervision, investigations and enforcement positions me to help clients navigate their most challenging regulatory matters. The firm’s collaborative culture and global platform provide a unique opportunity to support clients at every stage of the regulatory lifecycle.”
Monica Freas, Partner, Skadden
