Matthew B. Bornfreund

Matthew Bornfreund

Matthew Bornfreund advises banks and non-banks in the financial services industry. Matthew counsels banks, thrifts, credit unions, and their holding companies on all aspects of their regulation and supervision, including chartering and licensing, permissible activities and investments, affiliate transactions, and obtaining approval for mergers and acquisitions. He also advises payment companies and other commercial clients engaged in money transmission or payment facilitation (PayFac) with regard to state and federal compliance, including anti-money laundering laws, licensing, and consumer compliance.

Matthew works closely with federal banking regulators at the Board of Governors of the Federal Reserve System (Federal Reserve Board), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and numerous state banking agencies.

Prior to joining Venable, Matthew worked as an associate in the financial institutions advisory practice at a national law firm, where he represented clients in bank regulatory and enforcement matters, including CIDs issued by the Consumer Financial Protection Bureau (CFPB). He also advised clients on issues and risks associated with a range of fintech activities, such as acting as a bank service company, using artificial intelligence in consumer financial services, and issuing or exchanging virtual and cryptocurrency.

Before entering private practice, Matthew was an attorney in the Legal Division at the Federal Reserve Board, where he reviewed regulatory applications under the Bank Holding Company Act, Federal Reserve Act, and International Banking Act, along with Regulation H, Regulation Y, and Regulation K, among others. He also participated in regulatory rulemakings and interagency working groups, including a decennial EGRPRA review.


Representative Matters

  • Assisted a large bank holding company in obtaining a state charter for a de novo bank subsidiary
  • Advised multiple banks on obtaining consent for new activities, from state regulatory agencies
  • Advised several fintech companies in negotiations for payment processing or payment facilitation agreements
  • Advised a payment services provider in responding to state regulatory inquiries
  • Advised a non-U.S. bank in making an investment into a blockchain consortium
  • Assisted a global bank in a regulatory compliance review related to moving its systems infrastructure to a cloud-based platform




  • J.D. cum laude George Washington University Law School 2012
    • Quarter Finalist, Frankfurt Investment Arbitration Moot Court (Germany)
  • B.A. Economics University of Central Florida 2003
  • B.A. International Relations University of Central Florida 2003

Bar Admissions

  • District of Columbia
  • New York

Professional Memberships and Activities

  • Adjunct professor, George Washington University Law school, 2020 - present