Brett J. Ashton

Partner

e: bashton@kdlegal.com
p: (317) 238-6291
p: (312) 800-4015

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Brett J. Ashton

Partner

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Brett Ashton is the Chair of the firm’s Financial Institutions Practice Group and concentrates his practice on financial institutions matters. Mr. Ashton counsels banks and a wide variety of other financial institutions on all aspects of state and federal law and compliance with existing and developing regulations. He routinely advises financial institutions with respect to dealing with regulatory agencies, responding to adverse regulatory examinations, and implementation of new regulations under the Dodd–Frank Wall Street Reform and Consumer Protection Act. He currently serves as the regulatory compliance consultant to the Indiana Bankers Association and its member financial institutions. Mr. Ashton publishes a monthly compliance article in the Hoosier Banker.

Prior to joining Krieg DeVault, Mr. Ashton served as an Assistant General Counsel for American International Group ("AIG"), where he was responsible for working directly with Governors’ offices and key legislative and regulatory officials nationwide on behalf of the company’s multi-billion dollar financial services subsidiary.

Representative Experience

  • Advised bank holding company in the development of a new loan originator compensation structure in compliance with new federal regulations while preserving their existing corporate compensation philosophy
  • Counseled banks on compliance with a wide variety of state and federal regulatory issues, including but not limited to, ECOA, TILA, RESPA, FCRA, OFAC, BSA, and the Patriot Act
  • Assisted non-bank lender in assessment of liability and proposed remedial action for systemic violations of TILA and Regulation Z
  • Assisted national bank in assessing liability for potential SCRA violations and proposed remedial plan
  • Counseled state chartered bank on allowable disclosure under BSA in connection with pending civil discovery demand
  • Assisted state chartered bank in development of document retention and E-Sign policies
  • Counseled state financial services trade association with respect to the development of a new state consumer installment lending law for non-bank clients seeking modernization of existing lending laws in their state
  • Advised state chartered community bank on modernization of existing treasury management services including ACH origination and related agreements
  • Served as co-counsel in defense of regional consumer finance lender in class action involving allegations of violations of state usury laws
  • Counseled bank holding company on regulatory implications of potential restructuring
  • Acted as counsel to Acquiring Party in Form A regulatory filing with the Indiana Department of Insurance to obtain approval for sale of Indiana domiciled insurer.
  • Acted as state legislative counsel to a national mortgage lending trade association

Education

  • Indiana University Robert H. McKinney School of Law, Indianapolis, Indiana (J.D., 2000)
    • Order of Barristers
  • Ball State University, Muncie, Indiana (B.S. in Pre-Professional English, Academic Honors, 1994)

Bar Admissions

  • Indiana, 2000
  • Illinois, 2017

Professional Associations

  • AFSA Mortgage Lending Committee (Member)
  • AFSA Ancillary Products Committee (Counsel)
  • American Bar Association (Member)
  • Indiana State Bar Association (Member)
  • Indianapolis Bar Association (Member)
  • Government Affairs Society of Indiana (Member)

Seminars and Presentations

  • "The OCC Fintech Special Purpose National Bank Charter - What is it, and what does it mean for the future of state licensing?," American Financial Services Association Winter Law/State Government Affairs Meeting, 2017
  • "Latest Developments in Financial Services Law: A Recap Of Key Issues Impacting All Financial Institutions That Occurred in 2016, and What Is Next in 2017,"  Meritas Capability Webinar, 2016
  • "The CFPB Proposed Rule On Payday and Small Dollar Lending - What It Means To Traditional Installment Lender," Kentucky Financial Services Association Webinar, 2016
  • "The CFPB Proposed Rule On Payday and Small Dollar Lending - What It Means To Traditional Installment Lender," Ohio Financial Services Association Webinar, 2016
  • “Dodd-Frank Wall Street Reform Regulations, Regulations, and more Regulations……,” Education Finance Council Annual Meeting, 2011
  • "2010 Financial Regulatory Reform: What You Need to Know Now!," Indiana Bankers Association, 2010
  • "Financial Reform Implications for the Consumer Credit Industry," State Government Affairs and Legal Issues Forum, 2010

Publications

  • "Dodd-Frank Act Rulemaking: Far From Complete", Hoosier Banker, December 2012
  • "Wall Street Reform Impacts Main Street Bankers", Hoosier Banker

Blogs

Representative Experience
  • Advised bank holding company in the development of a new loan originator compensation structure in compliance with new federal regulations while preserving their existing corporate compensation philosophy
  • Counseled banks on compliance with a wide variety of state and federal regulatory issues, including but not limited to, ECOA, TILA, RESPA, FCRA, OFAC, BSA, and the Patriot Act
  • Assisted non-bank lender in assessment of liability and proposed remedial action for systemic violations of TILA and Regulation Z
  • Assisted national bank in assessing liability for potential SCRA violations and proposed remedial plan
  • Counseled state chartered bank on allowable disclosure under BSA in connection with pending civil discovery demand
  • Assisted state chartered bank in development of document retention and E-Sign policies
  • Counseled state financial services trade association with respect to the development of a new state consumer installment lending law for non-bank clients seeking modernization of existing lending laws in their state
  • Advised state chartered community bank on modernization of existing treasury management services including ACH origination and related agreements
  • Served as co-counsel in defense of regional consumer finance lender in class action involving allegations of violations of state usury laws
  • Counseled bank holding company on regulatory implications of potential restructuring
  • Acted as counsel to Acquiring Party in Form A regulatory filing with the Indiana Department of Insurance to obtain approval for sale of Indiana domiciled insurer.
  • Acted as state legislative counsel to a national mortgage lending trade association
Education
  • Indiana University Robert H. McKinney School of Law, Indianapolis, Indiana (J.D., 2000)
    • Order of Barristers
  • Ball State University, Muncie, Indiana (B.S. in Pre-Professional English, Academic Honors, 1994)
Bar Admissions
  • Indiana, 2000
  • Illinois, 2017
Professional Associations
  • AFSA Mortgage Lending Committee (Member)
  • AFSA Ancillary Products Committee (Counsel)
  • American Bar Association (Member)
  • Indiana State Bar Association (Member)
  • Indianapolis Bar Association (Member)
  • Government Affairs Society of Indiana (Member)
Seminars and Presentations
  • "The OCC Fintech Special Purpose National Bank Charter - What is it, and what does it mean for the future of state licensing?," American Financial Services Association Winter Law/State Government Affairs Meeting, 2017
  • "Latest Developments in Financial Services Law: A Recap Of Key Issues Impacting All Financial Institutions That Occurred in 2016, and What Is Next in 2017,"  Meritas Capability Webinar, 2016
  • "The CFPB Proposed Rule On Payday and Small Dollar Lending - What It Means To Traditional Installment Lender," Kentucky Financial Services Association Webinar, 2016
  • "The CFPB Proposed Rule On Payday and Small Dollar Lending - What It Means To Traditional Installment Lender," Ohio Financial Services Association Webinar, 2016
  • “Dodd-Frank Wall Street Reform Regulations, Regulations, and more Regulations……,” Education Finance Council Annual Meeting, 2011
  • "2010 Financial Regulatory Reform: What You Need to Know Now!," Indiana Bankers Association, 2010
  • "Financial Reform Implications for the Consumer Credit Industry," State Government Affairs and Legal Issues Forum, 2010
Publications
  • "Dodd-Frank Act Rulemaking: Far From Complete", Hoosier Banker, December 2012
  • "Wall Street Reform Impacts Main Street Bankers", Hoosier Banker