Legal services include:
- Serving as General Counsel to Foundation Board and Bank Organizing Group, providing corporate governance support.
- Providing research and recommendations with regard to the myriad regulatory issues involved with chartering a new bank.
- Providing counsel regarding the complex tax and structural issues surrounding the development of both a nonprofit entity and a community development bank.
Bank consulting services include:
- Developing a full business plan for the new bank, including market research, identification of the most desirable financial products for the bank’s target market, marketing plan, operations plan, and financial modeling.
- Ongoing market, operations, and profitability research with regard to various financial products
- Providing research and advice with regard to best practices and innovations in community development banking
The process of chartering a new bank can take two years of intensive work. The work of students will continuously change in response to client needs and as the bank approaches opening, once it opens, and as it matures as a financial institution.