News Article

Womble Carlyle attorney Don Lampe is interviewed in the current issue of Inside Mortgage Finance about the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, particularly as the new law relates to preemption standards.
 

Lampe cautioned banks not to make any rash decisions in the wake of the legislation. Details of how financial institutions will be affected are not yet settled, he said, and institutions should avoid sweeping reactions at the present time.

“Anyone who reads [the bill] now and feels the urge to do something next week is not approaching it properly,” Lampe tells Inside Mortgage Finance. “You have to analyze your operations and how you are relying on preemption, and what state consumer credit laws may apply to you in the absence of preemption, including licensing.”

Don Lampe is a noted industry attorney on mortgage lending regulation and compliance, with twenty-five years experience in banking and financial services law. He is often called on to represent leading financial services firms and industry trade groups in administrative, legislative and compliance matters. In recent years, he has testified before the U.S. Congress on comprehensive mortgage reform bills, as well as before the Federal Reserve Board at high-cost home mortgage lending hearings. Lampe is the Chair of the American Bar Association's Consumer Financial Services Committee and is a member of the Board of Regents of the American College of Consumer Financial Services Lawyers, the Board of Advisors of the UNC Center for Banking and Finance, and the Governing Committee of the Conference on Consumer Finance Law.

Register today to participate in a free webinar presented by Don and others from the Womble Carlyle Regulatory Compliance and Consumer Credit Practice Team.