Karl Kaufmann

About Karl Kaufmann

Senior legal executive with significant experience providing strategic regulatory, risk, compliance, and policy counsel to Boards of Directors, CEOs, and other senior executives. Uniquely deep legal and business knowledge with the ability to collaborate with leadership to protect company interests while ensuring compliance and mitigating risk. Experience advising several of the most influential players in the consumer financial services space, including the largest issuer of private-label credit cards, the #1 consumer bank in the US, two Top-10 global banks, and the second largest payment card network in the world.Success in managing sensitive regulatory inquiries and investigations and working with bank regulators, including OCC and CFPB, to achieve favorable outcomes (dismissals or no material impact on business). Strong background in public policy and legislative strategy, with demonstrated success influencing rulemaking on Capitol Hill, working with staff and Congress to protect interests or advance certain legislation.Worked extensively on policies/legislation such as FACT Act (2003), CARD Act (2009), Dodd-Frank Act (including Reg II/Durbin Amendment), GFC, and Economic Growth, Regulatory Relief, and Consumer Protection Act (2018). Significant experience building, growing, leading, and coaching teams in complex, highly matrixed organizations, consistently earning the highest team satisfaction in the legal department.

Experience

1. Chief Banking & Regulatory Counsel

   Synchrony

   Jan 2015 — Present · Charlotte, NC, US

   NYSE:SYF): Largest issuer of private-label credit cards in the US with ~$17.5B in revenues; IPO/spin-off from GE Capital.Leads legal team charged with advising the business on consumer and regulatory requirements and protecting company interests. Oversight of credit card, deposit, marketing, fair lending, regulatory, community development/reinvestment, and bank/holding company matters. Staff: 20+ attorneys/professionals, including federal/state government affairs team; 5 direct reports. Member, Executive Advisory Council.• Following separation from GE, restructured legal team to support the needs of the new stand-alone company while ensuring regulatory compliance. Reviewed workflows, and eliminated redundancies.• Key liaison, advisor, and subject matter expert, developing strategy to negotiate with regulatory agencies to preserve the bank’s financing products while protecting business objectives and addressing regulatory concerns. • Navigated regulatory inquiries, leading to satisfactory resolutions no material impact on business. • Member of the senior cross-functional team charged with proactively addressing a regulatory initiative to materially reduce credit card late fees, a key risk managment tool and source of revenue for the organization.

Education

• Yale University

  Bachelor of Arts (B.A.), Political Science (American Government)

  1990 — 1994

• Georgetown Law

  Doctor of Law (J.D.) awarded cum laude

  1997 — 2001