Meghann Donahue represents banks, nonbank financial institutions, and fintech companies in a broad range of enforcement, supervision, and regulatory matters involving federal and state banking agencies, including matters related to:
- Safety and soundness issues, anti-money laundering requirements, and UDAAP and other consumer compliance regulations;
- Prudential regulatory matters, internal governance and controls, and risk management frameworks; and
- Compliance with money transmission laws and licensing requirements.
Meghann is also active in the firm’s Fintech Initiative, through which she counsels clients on issues related to bank-fintech partnerships and regulatory compliance for innovative products and services.
Before rejoining Covington in 2024, Meghann served as Associate General Counsel for the Federal Reserve Bank of New York, where she supervised and conducted enforcement investigations of financial institutions, advised on enforcement actions arising out of bank examinations, and counseled bank examiners on matters involving a wide array of unsafe and unsound practices, regulatory violations, and remediation at supervised institutions.
Meghann advised on dozens of public and nonpublic enforcement actions with financial institutions and led enforcement investigations resulting in the Federal Reserve’s first civil money penalties for anti-money laundering non-compliance and Volcker Rule violations. Meghann’s experience includes investigations and actions concerning Bank Secrecy Act and OFAC sanctions compliance, consumer compliance, risk management and internal controls, fraud, misconduct, and whistleblower complaints. Meghann routinely liaised with Federal Reserve Board enforcement officials and other domestic and international regulators, and she advised bank examiners on supervisory findings and bank regulatory developments.
Meghann also managed a portfolio of litigations, subpoenas, and oversight inquiries related to New York Fed operations, including payments and foreign central bank accounts. She provided counsel on internal investigations and compliance-related matters and spearheaded the creation of New York Fed’s pro bono legal services program.
In addition to her work at Covington, Meghann serves on the Board of Trustees for the State YMCA of Michigan.
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