Manatt, Phelps & Phillips, LLP, today announced that Steven R. Arnold has joined as a partner in the Financial Services and Banking Practice. Arnold comes to Manatt from Toyota Financial Services, where he served as managing counsel. He will be based in the firm’s Orange County office.

Prior to his position at Toyota Financial Services, Arnold served as general counsel, compliance officer and BSA officer of Pacific Premier Bank, where he managed the company’s legal and regulatory compliance departments, prepared bank disclosures and customer agreements, and drafted policies and procedures for multiple bank programs. He has also worked as corporate counsel for WFS Financial, where he advised corporate management on consumer protection standards in multiple states.

Arnold’s practice focuses on banking law, with an emphasis on regulatory and operational issues affecting financial institutions. He has significant experience with the development, implementation and management of compliance systems and advises on issues relating to loan transactions, bankruptcy and negotiable instruments. At Manatt, he will advise clients on a full-array of legal issues affecting financial services product development, privacy, vendor services, cash management, consumer disclosures and compliance.

“Having been responsible for compliance with the expanding universe of new regulations and laws affecting financial institutions, as well as nonbank providers of consumer financial products and services, Steven has keen insight into the challenges that clients face,” said Gordon M. Bava, chair of Manatt’s Business, Finance and Tax Division. “His in-depth understanding will help clients navigate an increasingly complex regulatory environment. Steven is a terrific addition to Manatt.”

“The depth and sophistication of Steven’s experience with banking regulations and compliance programs are very impressive,” said Barbara S. Polsky, co-chair of the firm’s Financial Services and Banking Practice. “His mastery of this critical area will be an invaluable resource to our financial services clients. We are pleased to welcome him to the firm.”

Manatt is widely recognized as one of the leading financial services law firms in the United States, counseling more than 300 financial institutions across the nation and abroad. The firm represents virtually every type of financial institution as well as non-bank providers of consumer financial products and services, advising clients on the full scope of regulatory matters, including “bet the bank” issues, new financial products, day-to-day operations, navigating the various policies and ever-changing rules of regulatory agencies, and efficiently addressing complex regulatory issues.

Arnold will work as a member of the Consumer Financial Services Practice, consisting of an interdisciplinary team of Manatt lawyers and advisors who have both a deep knowledge of the laws and regulations governing consumer financial products and services and decades of experience assisting clients in developing and implementing compliance programs and defending clients in consumer litigation and regulatory enforcement actions.

“Manatt is well-known as a leader in the area of financial services law, providing superior counsel ranging from regulatory compliance to advertising, government relations and litigation,” said Arnold. “The opportunity to join such a talented group of lawyers was one that I could not pass up. I look forward to being part of this incredible team and assisting clients as they move forward in an evolving regulatory arena.”

Arnold earned his B.A. from Brigham Young University and his J.D. from George Mason University School of Law.


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