News & Insights

Axelson Joins Dykema In Washington, D.C.

Brings More Than Two Decades of Experience; Addition Strengthens Depth of Dykema’s Consumer Financial Services Team

April 5, 2010

Dykema, a leading national law firm, today announced the addition of Arthur B. Axelson to its Financial Services practice group in the firm's Washington, D.C. office. At Dykema, he will lead the firm's financial services regulatory and compliance practice, interacting with federal and state banking officials, assisting firm clients on compliance and new product development, and coordinating the firm's overall national consumer finance compliance lawyers in the firm's offices across the country. He was previously a partner in the Financial Industry Group and Financial Services Regulatory Group at Reed Smith, LLP.

"Arthur is a highly regarded attorney and will be integral in expanding Dykema's consumer financial services regulatory and compliance capabilities both in D.C. and at a national level," said Rex Schlaybaugh, Dykema's Chairman and Chief Executive Officer. "He brings a tremendous level of local knowledge and deep industry experience to the firm and we are thrilled to welcome him to our team."

Axelson's practice focuses on federal and state regulatory compliance with special emphasis on new product development, residential mortgage lending, regulatory banking and e-commerce in the financial services industry. He represents a broad range of financial institutions, brokers, lenders, investors and other service providers on consumer financial service and retail banking matters.

Axelson regularly represents and assists financial institutions in their efforts to comply with federal consumer credit protection statutes and related regulations. He also advises clients regarding other regulatory banking issues, specific loan transaction problems, mortgage fraud concerns, and alleged violations of applicable law and regulations. Axelson assists clients in defending existing loan programs against challenges by private litigants or enforcement actions by state and federal regulators. In addition, he conducts compliance audits involving detailed reviews of the forms and procedures used by lenders to assure compliance with applicable federal and state requirements, including due diligence compliance audits in connection with mergers and acquisitions.

Axelson handles a variety of secondary market concerns, including those affecting mortgage loan origination and servicing operations, mortgage wholesale and correspondent arrangements, and the purchase and sale of mortgages and mortgage servicing and subservicing rights. His representation involves the development of model forms and procedures, advice concerning complex, unusual or troublesome issues, and in-depth surveys, analysis, and reporting on aspects of state laws and regulation affecting large-scale, nationwide mortgage loan originators, purchasers, servicers and subservicers.

A frequent author, Axelson is a Fellow of the American College of Consumer Financial Service Lawyers; a former member of the board of trustees of the Mortgage Bankers Association (MBA) of Metropolitan Washington; former chair of the Housing Finance Subcommittee of the Consumer Financial Services Committee of the American Bar Association; and former chairman of the MBA's Regulatory Compliance Committee's Internet Lending Subcommittee and State Legislative and Regulatory Committee.

He received a J.D. from Villanova University School of Law, where he was Articles Editor of the Villanova Law Review, and a B.A., cum laude, from Franklin & Marshall College.

Dykema's Financial Institutions group is comprised of attorneys in the areas of litigation, regulatory, transactional and compliance. Concentrating on consumer financial services, investment management and insurance, they represent banks, mortgage companies, credit card companies, debt purchasers, debt collection companies and auto finance companies. For more information, visit http://www.dykema.com/financial/