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PHILADELPHIA, PA, December 10, 2010 – Paul H. Schieber, a Shareholder of Stevens & Lee, presented on how the Dodd-Frank Wall Street Reform and Consumer Protection Act will impact the residential mortgage industry and consumer borrowers at two programs sponsored by the Pennsylvania Bar Institute held on November 17 and 18 in Philadelphia.
At the November 17 seminar, Mr. Schieber addressed the new law’s Title XIV implications for residential mortgage loan originators and servicers. He said that these and other changes will result in enormous compliance burdens for lenders and other financial services providers that invariably will increase costs to the banking industry and decrease revenue for businesses.
At the 16th Annual Business Lawyers’ Institute held November 18, Mr. Schieber discussed the new Consumer Financial Protection Bureau created by Dodd-Frank that will have new and expanded authority to interpret and prohibit “unfair, deceptive, or abusive” acts or practices with respect to consumer financial products and services.
Mr. Schieber represents banks, thrifts, credit unions, mortgage companies, finance companies, mortgage insurance companies and other financial services providers across the country, with particular focus on consumer finance regulatory compliance and litigation defense.
He is widely published on banking and finance issues in both business and legal publications and is the co-author of The Lender’s Guide to Consumer Compliance and Anti-Discrimination Laws, co-author of the six volume Pratt’s State Regulation of Second Mortgages and Home Equity Loans and is the original author of the Allregs© State Law Compliance Module.
He is chair of the Business Law Section of the Pennsylvania Bar Association and former chair of the Consumer Financial Services Committee of the Philadelphia and Pennsylvania Bar Associations.
Prior to entering private practice in 1986, Mr. Schieber served as the executive director of the Public Housing Authorities Directors Association in Washington, D.C. He was also a legislative assistant in Governor Hugh Carey’s New York State Office of Federal Affairs and to Congressman James Scheuer.
Mr. Schieber received a J.D. from the Catholic University of America Columbus School of Law, an M.A. from the State University of New York at Stony Brook, a B.A. from Columbia University and a B.H.L. from the Jewish Theological Seminary.
