About The Law Office of Jay L. Hack

Financial and Business Law

My primary practice for over 45 years has been providing legal services to banks, other licensed financial institutions and business corporations. I provide a full panoply of legal services to my clients, from representing them in multi-million dollar merger transactions to dealing with consumer complaints under federal and state laws. I also assist businesses in implementing cutting edge products and services through the use of modern technologies, including Internet-based offerings and blockchain systems for transferring ownership of valuable assets.

Education and Bar Admissions

Boston University School of Law, J.D. cum laude, 1976
Boston University Law Review: Member (1974-75) Editor (1975-76)
University of Michigan, A.B. with honors, 1973 Major: Psychology (high honors)

Bar Admissions

New York, 1977
U.S. District Court, Southern District of New York, 1978
U.S. District Court, Eastern District of New York, 2013

Representing Financial Institutions

My financial institutions practice addresses a full range of legal needs for banks, holding companies, investment advisors and other licensed or regulated financial service providers. I have led the effort to charter multiple de novo banks, consummate bank mergers and engage in capital enhancement transactions. I assist clients in addressing complex regulatory issues and in dealing with examination comments from the FDIC, Federal Reserve, the Comptroller of the Currency, the NCUA and the New York State Department of Financial Services.

Representing Lenders and Borrowers

I have represented both lenders and borrowers in documenting and closing complex multi-national trade finance transactions, commercial mortgage loans and construction loans. I do not handle residential mortgage loans, I teach a seminar for newly admitted attorneys on The Anatomy of a Residential Mortgage Loan and I regularly advise clients on a full range of consumer compliance matters.

Retail Banking Matters

I provide assistance to banks large and small in implementing retail banking programs from positive pay fraud avoidance programs to remote deposit capture programs using scanners and cell phones. I have negotiated contracts with vendors, including virtually every major core data processing system provider, equipment manufacturer, cybersecurity and emergency backup system provider. I also prepare customer agreements and disclosures to protect banks from liability in conducting normal banking transactions and implementing required disclosures on issues from the privacy of customer financial information to funds availability policies.

Professional Associations, Memberships and Honors

Former Chair and Former Executive Committee Member, Business Law Section, New York State Bar Association
Member of various Bar Association Task Forces and Select Committees including: the Power of Attorney Task Force that rewrote the New York Short Form POA Law; the COVID-19 Task Force Business Law subgroup; and the Professional Discipline Subcommittee of the Committee on Attorney Professionalism.
Former Chair, Wine Beer and Spirits Law Committee, NYS Bar Association, and Founding Editor and Chief of the Alcohol Law Newsletter.
Member of the Ruth Bader Ginsburg Hospital (formerly known as the Coney Island Hospital) 2024 Gala Planning Committee.
Member, Board of Directors, National Scholastic Chess Foundation
2010 Man of the Year, Congregation Kol Ami, White Plains, New York
Recipient of Congressional Proclamation from Congresswoman Nita Lowey for dedication to and support of the local community.

Recent Seminars and Panel Presentations

Government Closures of Silicon Valley Bank and Signature Bank: What Lawyers Need to Know. March 2023, for the NYS Bar Association
Recent Bank Failures and FDIC Insurance Protection: An Update for the CPA Academy.
Bank Closures, The FDIC, Escrow Accounts and Ethics. April 2023, for the NYS Bar Association. Moderator and Speaker. With Sara Kelsey, former General Counsel, FDIC; Marjorie Gross, former Deputy Superintendent, NYS Banking Department; and Congressman Barney Frank.
Two Banks Died But Depositors Big and Small Were Saved - The Who, What, When, Where, and Why of Silicon Valley Bank and Signature Bank. April 2023. For the CPA Academy.
Mandatory Acceptance of Powers of Attorney by All Businesses. For the World Wide Land Transfer, Inc. education program (2022).
Powers of Attorneys – How Banks Should Manage the New Mandatory Acceptance Requirements. Independent Bankers Association of New York State, 2021.
Cybersecurity Implementation Requirements – They’re Not Just for Banks Anymore. New York Association of Realty Managers, 2021.
PPP Loan Requirements. New York State Bar Association, 2020. Also presented to the NYS Association of Psychologists, the Minnesota Association of Family Therapists, and the New York Association of Realty Managers.
The Federal Reserve's Main Street Lending Facility Requirements. New York State Bar Association, 2020.
Legal And Ethical Considerations in Securitized Loan Transactions. July 2020. With Troy A. Paredes, Former Commissioner, Securities and Exchange Commission. For the Securities Law Committee of the NYS Bar Association.
Legal, Ethical and Practical Considerations in Handling Attorney Escrow Accounts. NYS Bar Association, 2019.
The Anatomy of a Residential Mortgage Loan: Bridging the Gap for Young Lawyers. NYS Bar Association, 2019.
Regulatory Update – Banking the Marijuana Industry, Should We or Shouldn’t We. Independent Bankers Association of New York State, 2018.