John McCormack joined Allied in September of 2009 as General Counsel. He is responsible for providing legal advice and counsel with respect to all aspects of Allied’s business. He also monitors pending legislative and regulatory activity to determine the effect it will have on the company’s business.
Mr. McCormack began his legal career with the Dallas law firm of Jenkens & Gilchrist, where he was a member of the Banking section. In 1985, he joined the in-house legal department of Associates First Capital Corporation in Las Colinas, Texas. In that capacity, he also served as legal counsel for Associates National Bank in Pleasanton, California, a major credit card issuer. In 2000, Associates First Capital was acquired by Citigroup, and he continued in the same role with Citigroup’s in-house legal department until 2009, based in Las Colinas and also serving clients in the New York City and Wilmington, Delaware offices of Citigroup.
Mr. McCormack received a Bachelor of Arts degree in History from the University of Houston and a Juris Doctor degree from Harvard Law School. Between college and law school, he worked for Bank of the Southwest in Houston, Texas, as a Technical Writer. He is also a veteran of the United States Army, having served in the U.S. and in Korea. He has been a licensed member of the State Bar of Texas for over 30 years, and he is also a member of the Texas Association of Bank Counsel.
Factoring Fact
Non-Prospective Companies/Incompatible Industries
Most businesses which have commercial receivables are generally considered good factoring prospects. Companies that are not prospects for Allied are those with a majority of consumer receivables such as retail oriented businesses, progress billings, third party pay medical receivables and certain construction related and finance businesses.
