Daniel M. Burstein oversees the Financial Institutions practice for Guidepost Solutions. He has more than 13 years of experience in the areas of regulatory investigations and enforcement, regulatory compliance, commercial litigation, and internal investigations. He possesses in-depth knowledge of the intricacies involved in monitoring regulated institutions regarding foreign exchange and LIBOR manipulation, sanctions and anti-money laundering violations, mortgage servicing improprieties, and tax evasion.
Most recently, Mr. Burstein served as Executive Deputy Superintendent and Acting Chief of Staff for the New York State Department of Financial Services (DFS). He oversaw enforcement actions and directed the operations of the Department, with its 1,400 employees, $240 million annual operating budget, and 3,800 supervised financial institutions with assets totaling more than $7 trillion. Mr. Burstein headed the Department’s Real Estate Finance Division, which regulates real estate and homeowner issues including mortgages, as well as financial services such as title insurance and mortgage insurance. His projects for the Department included reviewing non-bank mortgage servicers, reforming the state’s foreclosure process, licensing title insurance agents, overhauling the mortgage licensing process, and helping consumers and businesses recover from Superstorm Sandy.
During his tenure with the DFS, Mr. Burstein directed several significant matters including major settlements on mortgage servicing and origination violations, sanctions and anti-money laundering violations, and misuse of confidential supervisory information. He also negotiated precedent-setting agreements with the Financial, Banking, Insurance and Real Estate industries including agreements on Appropriate Retention of Encrypted Data (2015); Maintenance of “Zombie Homes” (2015); and Expedited Disbursement of Insurance Proceeds Following Superstorm Sandy (2012).
Prior to joining the DFS, Mr. Burstein was an attorney at Willkie Farr & Gallagher LLP where he focused on commercial litigation, criminal defense, and internal investigations. He also developed the firm’s voting rights practice and litigated matters in New York State elections.
Mr. Burstein shares his expertise as a speaker and adjunct professor on topics including financial regulation, mortgage servicing, title agent licensing, and foreclosure reform. He is a contributing author to Goldfeder’s Modern Election Law, Third Edition and is a co-author of Instituting No-Excuse Absentee Voting in New York. In addition, Mr. Burstein has been quoted in several news articles for The New York Times, Wall Street Journal, New York Daily News, New York Law Journal and Reuters.