Photo of Elizabeth A. Khalil

Elizabeth A. Khalil Member

Areas of Practice


Bar Admissions

  • Illinois
    District of Columbia
    New York


University of Michigan Law School, J.D., 2002

Georgetown University, B.S., cum laude, 1999

Elizabeth Anne Khalil is a Member in Dykema’s Government Policy Practice Group. She focuses her practice on all aspects of regulatory compliance and risk management for the financial services industry.     

Ms. Khalil was for many years a federal banking regulator at the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) in Washington, DC. At the OCC, she was an enforcement attorney and specialist in compliance and consumer protection issues. She was a member of numerous interagency teams, including those that wrote regulations implementing the FACT Act amendments to the Fair Credit Reporting Act (FCRA). At the FDIC, she served as Acting Special Assistant to both the Deputy Director and Director of the FDIC’s Division of Depositor and Consumer Protection, helping to oversee the agency’s nationwide compliance supervision program and community banking initiatives. She also advised senior FDIC officials on emerging issues affecting the banking industry, particularly relating to emerging technology, payment systems, deposit insurance, and consumer protection. Ms. Khalil also led the interagency team that created the first federal compliance guidance on use of social media by banks and credit unions.  

Ms. Khalil also served as a senior associate at an AmLaw 100 firm in Washington, DC, where she advised a wide variety of clients — including large, complex banks operating worldwide, community banks, and investors — on matters including Dodd-Frank Act implementation strategies; enforcement actions; acquisition of banks, including bidding on failing banks marketed by the FDIC; novel uses of consumer data; and enterprise-wide privacy and data security programs.

At Dykema, Ms. Khalil advises clients on improving their overall compliance management systems and  third-party/vendor management programs. She also provides granular subject-matter expertise on the full “alphabet soup” of federal banking laws and regulations and related subject matter, such as the Bank Secrecy Act/anti-money-laundering (BSA/AML); the Electronic Fund Transfer Act (EFTA)/Regulation E; the Truth in Lending Act (TILA)/Regulation Z; flood insurance; FCRA, the Gramm-Leach-Bliley Act (GLBA), and other privacy and data security provisions; unfair, deceptive, or abusive acts or practices (UDAAP); and meeting advertising and disclosure requirements in online and mobile channels. She also provides counsel on permissible bank activities and corporate applications, including regulatory due diligence in connection with mergers and acquisitions.

Ms. Khalil is a frequent author and speaker on regulatory matters. She is a contributor to Lexis Practice Advisor and is a member of its advisory board.

Memberships & Involvement

International Association of Privacy Professionals (IAPP), Member

Federal Communications Bar Association

American Bankruptcy Institute

Illinois State Bar Association

Chicago Bar Association