Amber Avion Hay
Partner
Arnold + Porter
Description of field of expertise
Amber Hay specializes in providing legal counsel to banks and financial services companies, ensuring
their compliance with federal and state laws and regulations. Her specialty extends to advising
banks on mergers and acquisitions and navigating the process for obtaining regulatory approvals;
advising investors in banks on making non-control investments and bank boards on governance
requirements and risk management standards under bank laws and regulations. She also offers
guidance to clients on bank capital and liquidity requirements, enhanced prudential standards, and
other compliance matters.
In her role, Amber represents financial institutions on a wide range of bank regulatory matters,
including matters within the supervisory jurisdiction of the Federal Reserve Board, the OCC, the
FDIC, the CFPB, and FinCEN, as well as state bank regulatory agencies. Her experience also spans
matters related to affordable housing, cybersecurity, consumer financial protection, and community
reinvestment.
Notably, Amber actively engages in pro bono work, dedicating her efforts to supporting nonprofit
organizations with general corporate matters. Among her pro bono endeavors, she is currently
advising a nonprofit seeking a grant under a multimillion-dollar community benefit plan.
Prior to joining the firm, Amber served as a senior attorney at the Board of Governors of the Federal
Reserve System in the Legal Division’s Bank Regulatory and Policy Group where she reviewed
acquisition, divestiture, and activity proposals of financial institutions under various banking laws.
During her tenure at the Federal Reserve Board, Ms. Hay was seconded to the U.S. House of
Representatives, Financial Services Committee where she advised members of Congress and their
staff on the implications of banking legislation.
What advice would you offer to new attorneys interested in your field?
As a first-generation lawyer, I encountered challenges not only in navigating the legal landscape, but
also in understanding its professional nuances and defining my own identity within the field. Early in
my career, I felt alone and questioned whether I wanted to continue practicing law. However, a
pivotal shift occurred when I joined the Federal Reserve and immersed myself in banking regulation.
Connecting with fellow professionals in the realm of financial services regulation through conferences and networking events proved transformative. I recommend new attorneys find an area of law they enjoy, work really hard to focus in that area (kudos if it’s an area of law where there is an unmet demand), and concurrently prioritize connecting with other lawyers and professionals in that specialized area.
Final thoughts…
Amber is committed to diversity and the community. She supports historically underrepresented
attorneys and mentors within and outside Arnold & Porter. She is an active member of several firm
affinity groups, including those focused on women and underrepresented