Another Dodd-Frank author cashes out to K Street 

Daniel Meade left K Street giant Hogan & Hartson to work for Barney Frank as chief counsel of the Financial Services Committee, where he helped write the Dodd-Frank financial regulation bill. This week Meade passed through the revolving door again, going back to his old firm (now called Hogan Lovells).

From the firm's announcement:

As Senior Counsel to the U.S. House Committee on Financial Services, Meade served as an advisor to the Committee's Chairman, and was a principal draftsperson of substantial portions of the Dodd-Frank Wall Street Reform... He also actively drafted and analyzed legislation and coordinated oversight functions ... with regard to bank, thrift and holding company safety and soundness, capital requirements, transactions with affiliates, industrial loan companies, deposit insurance, consumer protection, and the Community Reinvestment Act.

At Hogan Lovells, Meade will resume his practice representing financial services entities and other entities impacted by the regulation of those entities in connection with a broad range of regulatory and transactional matters, including issues related to the Dodd-Frank Act....

"We are thrilled to welcome Dan back to Hogan Lovells," said Hogan Lovells Co-CEO Warren Gorrell. "Dan brings instant marquee credentials in interpreting and implementing the most significant legislative and financial regulatory developments on the Hill. We are proud of his work on behalf of the House Committee on Financial Services and are confident that his experiences will benefit our clients and drive the growth of our financial regulatory practice."

According to Stuart Stein, Global Co-head of Hogan Lovells' Corporate practice, "As the Dodd-Frank Act rules take shape, our current and prospective clients will actively need our advice and counsel. Dan's first hand understanding of the Dodd-Frank Act, coupled with his years of experience at the Federal Reserve Board and in private practice will be invaluable to our clients."

Hogan Lovells' clients include the Managed Funds Association, Credit Suisse, and the Mortgage Insurance Companies of America.

What do we think of a K St. lawyer leaving K St. to "reform" finance before cashing back out to monetize his "first hand understanding of the Dodd-Frank Act"?

At the very least it should cast doubt on the virtue of the bill.

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Timothy P. Carney

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Thursday, Dec 8, 2016

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