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Fall 2024 Course

Regulation of Financial Institutions

Prerequisite: None

Exam Type: Last Class Take-home

Students enrolled in the course will be expected to prepare one short research paper on a topic of current interest. There will also be a take-home examination question distributed after the last class and designed to give students an opportunity to reflect upon some of the broad themes we will explore over the course of the semester.

This course explores the regulation of financial institutions and financial markets in the United States.  Over the course of the semester, we will examine the many different regulatory agencies and supervisory mechanisms that have evolved in the United States to govern the business of banks, securities firms, asset managers and insurance companies. The course will cover prudential regulation and consumer protection, as well as the oversight of systemic risks. While the primary focus of the course will be on financial regulation in the United States, readings and class discussion will frequently extend to comparative, cross-border, and multi-lateral aspects of financial regulation. 

In the Fall of 2024, a particular focus of the course will be to consider the extent to which the Biden Administration and its appointees have changed regulatory policies from those of the previous administration.   We will also focus on recent developments in digital assets, regulatory efforts to employ regulatory tools to promote social goals (such as climate change and financial inequality), as well as a number of administrative law issues that arise in financial regulation.

Readings will primarily be from Barr, Jackson & Tahyar, Financial Regulation: Law and Policy (Foundation Press 3rd ed. 2021) though some supplemental materials will be posted to the course’s Canvas website, including several case studies posing issues of current policy concern.

If scheduling permits, the course will meet for twenty-four sessions of two hours each, with classes ending by Thanksgiving Break. The meeting dates will be posted on Canvas before the start of the semester.