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Financial Services

We have over 18 years’ experience in supporting clients to define and grow their Financial Services business.

Our goal is to help our Financial Services clients to meet the evolving legal requirements of their business. Given the current global Covid-19 crisis, the Financial Services industry, like many, is facing unprecedented legal challenges in their industry. We support our clients in this difficult time and pride ourselves on timely, straightforward advice, always of the very highest quality.

Our leadership


Pete Larsen

Pete Larsen

Pete Larsen brings more than fifteen years of experience as corporate in-house, litigation-management across the country involving banks and financial institutions, commercial real estate law, title, commercial leasing, and litigation related to residential, multi-family and commercial real estate.

Prior to joining FLI, Pete served as Associate General Counsel for a premier commercial real estate and loan and financial advisory services company, Situs. He primarily supported Situs’ loan-servicing and special servicing business units, providing legal expertise within commercial the commercial mortgage servicing industry, including servicing and securitization.

His responsibilities also include complex contract preparation and negotiation, litigation-management, banking and finance, legal department management, mergers and acquisitions, risk assessment and insurance.

In October 2011, Mr. Larsen was the lead attorney on the purchase of loan servicing rights of approximately 9.7 billion Euros, more than doubling the company’s European assets under management at that time.

Phone: (+1) 832 660 1394

Email: pete.larsen@first-law.com

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Qualifications:

  • Michigan State University, Juris Doctor
  • University of Michigan, BSA

Languages:

  • English
  • Spanish
  • Portugese

Financial Services insights


Transitioning from LIBOR and the Challenges
Financial Services

Transitioning from LIBOR and the Challenges

The existence of the London Inter-bank Offered Rate (LIBOR) is coming to an end soon in 2021, as decided by the Financial Conduct Authority (FCA) in 2017. It is important to investigate the current status of the transitioning process, how the financial services are adjusting to the changes and other key challenges out there.

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The Rise of Digital Banking
Financial Services

The Rise of Digital Banking

In 2015 a study made by FIS found that only 23% of customers believe their banks are fulfilling their expectations. Now, in the COVID-19 era, a recent survey conducted by PwC shows that even though consumers are happier with the banking services provided, the new risks of the industry are competitors and mostly non-traditional competitors. In fact, KPMG has stated that banks are encouraged to use channels that haven’t been prioritized in the past.

Starting with 1990, digitalization has been a constant in the financial industry. This trend that continues to grow is driven by new customer expectations. When today's consumer evaluates financial services, they don't compare banks anymore. They compare experiences. Thus, banks adopted new technologies to improve their services, and create smarter digital service offerings.

With a digital-first focus, the banking game has changed, as shown by the new disruptive proposals that appear in the industry. The latest of which, is virtual banking.

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The Future of Fintech Regulation Landscape
Financial Services

The Future of Fintech Regulation Landscape

It has been two years since the Office of the Comptroller of the Currency (“OCC”) announced the “Fintech Charters” plan. Whilst it has faced great challenges, with the lawsuit filing against this motion, the OCC has persisted with its plan with the Second Circuit. It is important to examine the opportunities, challenges as well as impacts that the charters will have on the regulatory landscape of the fintech companies.

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Learn more about our insights in this industry and others.

Customers we are proud to work with in Financial Services:

Brandes
Federal Credit Union
ATTIJARIWAFA BANK
Situs
Serge Ferrari
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