United States , Illinois , Chicago
Manuel (Manny) Flores is a partner in the Banks and Financial Institutions Practice Group of Arnstein & Lehr’s Chicago office. His practice concentrates on all aspects of banking regulation on a state and national level. Prior to joining the firm, Manny served as the Acting Secretary at the Illinois Department of Financial and Professional Regulation (IDFPR). During his four years there, he was recognized for changing the IDFPR’s culture, increasing transparency, engaging with consumers and industry leaders, streamlining and modernizing operations and raising the agency’s profile nationally. As a regulator, Manny developed and implemented Illinois statewide policy for the financial services industry. Working with federal banking regulators, he supervised examinations, major investigations and enforcement actions of depository institutions and consumer finance companies relating to prudential and regulatory compliance matters. As a member of the Conference of State Bank Supervisors (CSBS), Manny worked with state regulators from around the country to shape policy on significant and emerging issues in the financial services industry. With the CSBS, Manny and his IDFPR team strengthened consumer protection standards for mortgage servicers in the wake of the financial crisis, and were party to the $25 billion settlement with five of the biggest mortgage lenders following the collapse of the housing market. Previously, Manny spent one year as the Acting Chairman for the Illinois Commerce Commission (ICC), where he regulated investor owned utilities in the areas of electricity, gas, water and telecommunications as well as adjudicated numerous utility fee rate cases before the ICC. Prior to the ICC, he served as 1st Ward Alderman on the Chicago City Council for nearly two terms and before that he served as an Assistant State’s Attorney for the Office of Cook County State’s Attorney from 2000 to 2003. During his time with the State’s Attorney Office, Manny gained significant experience working in the Labor and Employment Unit of the Civil Division and the Misdemeanor Traffic Unit of the Criminal Division. Manny was also a former state banking and medical cannabis regulator and had direct oversight of the development of the Illinois medical cannabis dispensary regulations. In November 2015, he was appointed to leading cannabis company Medbox, Inc.’s board of directors, chairman of the Audit Committee, and a member of the Compensation and Governance & Nominating Committees. Additionally, Manny is fluent in Spanish.