Sonnenschein Nath & Rosenthal hired Dennis M. Cariello, formerly deputy general counsel for postsecondary education and regulatory services at the U.S. Department of Education.

Cariello has joined the law firm as counsel in its capital markets practice. Cariello formerly supervised all legal services related to the development and implementation of federal programs that assist postsecondary education. He will be based in Sonnenschein’s New York office.

Before joining the Education Department in 2007, Cariello worked at Barnes, Iaccarino,
Virginia, Ambinder & Shepherd
in New York, litigating commercial and labor law
matters.

Cariello was the lead attorney and developer of the DoE's $150 billion Loan Purchase Programs, and he managed the drafting of documents governing the participationinterest and loan sale programs.

He also advised the department on regulatory matters, including those related to No Child Left Behind and the Higher Education Act. He served as lead attorney and developer of the department’s $60 billion ABCP Conduit Program, which is estimated to save the government as much as $4.75 billion.

In 2008, Cariello was briefly acting deputy assistant secretary for enforcement in the
Education Department’s office for civil rights. He oversaw enforcement of certain statutes,
including Title IX of the Education Amendments of 1972 and Title II of the Americans with
Disabilities Act of 1990.

Cariello has consulted with the Department of the Treasury and the Federal Reserve Bank on
matters related to the temporary liquidity facilities serving student loans and student loan ABS.

At Sonnenschein, he will work with clients on similar types of matters and with issues related to for-profit and not for profit schools and higher education service providers.

“With potential regulatory changes on the horizon in the student loan arena and with higher
education overall, Dennis will be an invaluable resource to our clients,” said Stephen S.
Kudenholdt
, co-chair of Sonnenschein’s capital markets practice. “His experience working
with for-profit schools will be extremely beneficial.”

“Having worked with Dennis in the past, I know he will greatly enhance our practice,
which will be a major benefit for our clients, ” said Robert E. McCarthy,  partner and a member of the firm’s capital markets practice.

“Sonnenschein’s Capital Markets Practice is well known for its highly sophisticated work in thestructured finance industry,” Cariello said. “In the area of student loan-backed securities, in
particular, the firm has shown real leadership and I am delighted to be joining this strong group.
I am equally excited to build and develop a practice that will provide transactional, regulatory
and a range of services to schools and other members of the higher education community.”

 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.