The Center on Finance, Law & Policy and the University of Michigan's FinTech Initiative at the Ross School of Business are hosting “The Future of Fintech” conference to consider new business, policy, and regulatory questions raised by recent technological developments.
This annual forum brings together Ford School economists for a discussion of the current state of the U.S. economy. From inflation to the labor market, faculty experts reflect on the most crucial issues facing the American economy, and the top-of-mind issues for its citizens.
Professor Jeffery Zhang from Michigan Law will be speaking at our February blue bag lunch talk on Wednesday, February 1 at 12pm. The talk will be virtual on Zoom. Please register here by January 31.
Stream the hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, as they consider the nomination of Michael S. Barr to become a member and vice chairman for supervision of the Board of Governors of the Federal Reserve System.
Adrienne A. Harris was sworn in January 25, 2022 as superintendent of the New York Department of Financial Services (DFS). New York is a key U.S. and global financial center; DFS regulates and supervises thousands of banks, insurance companies, mortgage originators, and many foreign bank branches and agencies.
U.S. Senator Elizabeth Warren and Dean Barr will discuss Senator Warren's distinguished career as a public servant, perspectives on poverty and inequality in the United States, and her work to create a more just and equitable economic system.
Policy Talks @ the Ford School,
Conversations Across Differences
Inflation and labor market fluctuations are threatening the fragile economic recovery. Increasingly, Americans are worried about their financial future. Join Ford School economists for a discussion of these crucial issues.
Join us for an important discussion between University of Michigan Ford School Dean Michael Barr with Deputy Secretary of Commerce Don Graves, to discuss his work to revive the economy while combating the racist systems embedded within it.
Professor Gabriel Rauterberg explores how the public/private divide in U.S. securities markets interact and questions whether the current structure is socially optimal.
Join us for a conversation with Penny Naas (MPP '93) about key issues in government and business, including diversity, the relationships between the regulated and the regulators, and environmental sustainability.
Professor Terri Friedline's book, Banking on a Revolution, makes a compelling case for a revolutionized financial system that centers the needs, experiences, and perspectives of those it has historically excluded, marginalized, and exploited.
Adrienne Harris will moderate a discussion regarding the impressive growth of the fintech industry across the African continent and the benefits as well as challenges for economies, governance, and society. Participants will include thought leaders from industry, government, and higher education.
The University of Michigan's Center on Finance, Law & Policy and the Federal Reserve Bank of San Francisco are co-hosting the second “Central Bank of the Future” Conference on Monday-Wednesday November 16 – 18, 2020, and we hope that you can join us from 12-4 EST.
Conversations Across Differences,
Policy Talks @ the Ford School
Join us for a conversation with Lawrence H. Summers, former Secretary of the Treasury, and Maya MacGuineas, President of the Committee for a Responsible Federal Budget, on whether the growing federal deficit is sustainable for the United States economy.
This event will be virtual.
Ten years after the passage of the Dodd-Frank Act, and in the midst of an even more devastating economic and public health crisis, what are the risks to the financial system and the U.S. economy? This conference will explore whether the Act created an enduring structure to make the financial system fairer, safer, and better harnessed to the needs of the real economy. Panels will explore the policy choices made in the Dodd-Frank Act, DFA’s implementation over the decade, changes during the Trump Administration, current and potential risks to the financial system, debates over consumer protection, and the future of reform.
Join us for a conversation between Richard Cordray, former Director of the Consumer Financial Protection Bureau, and Michael S. Barr, Dean of the Ford School. They will be speaking about Cordray's new book, Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy.
The University of Michigan FinTech Collaboratory, of which the Center on Finance, Law & Policy is part, is collaborating with MCubed to announce new funding opportunities for University of Michigan faculty who are undertaking research, course development, or other educational programming focused on financial technology.
Interested in a career in Finance or Technology? Learn More From Professor Adrienne Harris!Adrienne A. Harris is a Professor of the Practice at the University of Michigan, as well as a Gates Foundation Senior Research Fellow with the Center for Finance, Law and Policy at the University. Adrienne also advises fintech companies, incumbent financial institutions, and large venture capital firms. Most recently, Adrienne was the Chief Business Officer and General Counsel a San Francisco-based, insur-tech start-up for which she is now an Advisor. Adrienne was a Special Assistant to President Obama for Economic Policy at the National Economic Council in the Obama White House. She spearheaded the development of the Administration’s fintech strategy, chairing both the Interagency Fintech Working Group and the Administration’s Distributed Ledger Technology Task Force. She came to the White House from the U.S. Department of Treasury where she served as Senior Advisor to the Deputy Secretary. Prior to coming to Washington, D.C., Adrienne was an Associate at Sullivan & Cromwell LLP in New York, where her practice included representing financial institutions in complex regulatory proceedings and M&A transactions. Adrienne earned her M.B.A. from New York University Stern School of Business with specializations in Economics and Management, her J.D. from Columbia University Law School, and her B.A. from Georgetown University.
Traditionally, central banks have served three policy functions – monetary policy, payments systems oversight, and financial institution supervision. This conference will convene international experts and practitioners to examine how these core functions contribute to financial inclusion, poverty alleviation, and a more inclusive economy – and what could be improved.The conference contributes to a research initiative undertaken by the University of Michigan’s Center on Finance, Law & Policy, in partnership with the Bill & Melinda Gates Foundation to consider how the role of a central bank could evolve in the future and enable central banks to make greater contributions toward financial inclusion. Ultimately, the research intends to identify technologies, processes, or tools that could benefit a central bank in supporting public policy objectives related to inclusion, and consider whether other sectors, including philanthropy, might have a role to play in supporting the development of those tools. Registration to the event is free. Speakers and attendees will include individuals from standards-setting bodies, central banks and other financial regulators, and policymakers, as well as futurists and technologists, and other financial ecosystem stakeholders.For more information visit http://financelawpolicy.umich.edu.
Sixty years ago, Congress established a federal pre-approval regime for bank mergers to protect consumers from then-unprecedented consolidation in the banking sector. This process worked well for several decades, but it has since atrophied, producing numerous “too big to fail” banks.
Professor Kress's research contends that regulators’ current approach to evaluating bank merger proposals is poorly suited for modern financial markets. Policymakers and scholars have traditionally focused on a single issue: whether a bank merger would reduce competition. Over the past two decades, however, changes in bank regulation and market structure—including the repeal of interstate banking restrictions and the emergence of nonbank financial service providers—have rendered bank antitrust analysis largely obsolete. As a result, regulators have rubber stamped recent bank mergers, despite evidence that such deals could harm consumers and destabilize financial markets.
Professor Kress's research asserts that contemporary bank merger analysis should instead emphasize statutory factors that regulators have long neglected: whether a proposed merger would increase systemic risks, enhance the public welfare, and strengthen the relevant institutions. Professor Kress's research urges regulators to modernize their approach, and it proposes a novel framework to ensure that bank merger oversight safeguards the financial system. The proposals contained herein have far-reaching implications not only for bank regulation but also for the ongoing debate over merger policy in technology, agriculture, and other industries.