WASHINGTON, DC, May 6, 2019 — Arnold & Porter announced today that Charles Yi has joined the firm's Financial Services and Legislative and Public Policy practices as a partner. He will be resident in the firm's Washington, DC office.
From 2015-2019, Mr. Yi served as General Counsel of the Federal Deposit Insurance Corporation (FDIC). Prior to that, he served as staff director and chief counsel for the Senate Committee on Banking, Housing, and Urban Affairs; deputy assistant secretary for banking and finance at the US Treasury Department; and counsel for the House Committee on Financial Services.
"Charles is highly regarded and respected for his deep understanding of the banking sector, including in the supervisory, policy and legislative arenas," said Richard M. Alexander, Chair of Arnold & Porter. "He has been involved in cutting-edge financial reform during one of the most transformative periods in history. Charles will be a terrific addition to our nationally recognized Financial Services practice group. Our clients will benefit tremendously from his significant experience and insight into the legislative and regulatory process."
While serving as FDIC General Counsel, Mr. Yi played a key role in the development of major banking policy initiatives and legislation as well as the implementation of related rulemaking. He also had supervisory responsibility over FDIC enforcement and litigation activity. In addition, he served on the FDIC's fintech steering committee and established a fintech working group within the Legal Division.
While at the House Financial Services Committee, Mr. Yi worked on banking and insurance issues and participated in the creation of the Troubled Asset Relief Program (TARP) during the height of the financial crisis. Also during his tenure at the Senate Banking Committee and the Treasury, Mr. Yi was instrumental in the creation and implementation of the Dodd-Frank Act, with its sweeping changes to financial regulation.
While serving as senior staff on the Senate Banking Committee, Mr. Yi led the reauthorization of the Terrorism Risk Insurance Act (TRIA), Ex-Im Bank, and the National Flood Insurance Program, and helped to draft and shepherd the passage of the Credit CARD Act.
Prior to his public service, Mr. Yi was in private practice where he focused on M&A and regulatory work for clients in the financial services industry. He also served for five years in the US Army as Captain in the Armored Cavalry.
Mr. Yi received his JD from Columbia University School of Law, MPA from Princeton University Woodrow Wilson School, MA from Bowie State University, and BS from UC Berkeley.