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Barr, Michael S.

Professor of Law

900 Legal Research
734.936.2878
E-mail msbarr@umich.edu
Prof. Michael S. Barr, a member of the faculty since 2001, teaches Financial Institutions, International Finance, Financial Derivatives, Transnational Law, and Jurisdiction and Choice of Law, and co-founded the International Transactions Clinic. He was on leave from 2009-2010, serving as the U.S. Department of the Treasury's Assistant Secretary for Financial Institutions, and was a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act. He is currently a nonresident senior fellow at the Center for American Progress and the Brookings Institution. He is also a professor of public policy at U-M's Gerald R. Ford School of Public Policy.

Prof. Barr conducts large-scale empirical research regarding financial services and researches and writes about a wide range of issues in financial regulation. Recent books include No Slack: The Financial Lives of Low-Income Americans (Brookings Press, 2012), Insufficient Funds (Russell Sage, 2009, co-edited with Rebecca Blank), and Building Inclusive Financial Systems (Brookings Press, 2007, co-edited with Anjali Kumar and Robert Litan).

Prof. Barr previously served as Treasury Secretary Robert E. Rubin's Special Assistant, as Deputy Assistant Secretary of the Treasury, as Special Advisor to President William J. Clinton, as a special advisor and counselor on the policy planning staff at the State Department, and as a law clerk to U.S. Supreme Court Justice David H. Souter and Judge Pierre N. Leval, then of the Southern District of New York.

He received his JD from Yale Law School, his MPhil in international relations from Magdalen College, Oxford University, as a Rhodes Scholar, and his BA, summa cum laude, with honors in history, from Yale University.

Visit Prof. Barr's homepage.

Recent Publications

More Publications...


"Five Ways the Financial System Will Fail Next Time." (Forthcoming).

No Slack: The Financial Lives of Low-Income Americans. Washington, D.C.: Brookings Institution Press, 2012.

"The Financial Crisis and the Path of Reform." Yale J. on Regulation 29, no. 1 (2012): 91-119.
Full Text: MLaw Repository | HEIN (UMich users) | HEIN | Westlaw

​"Too LIBOR, Too Late: Time to Move to a Market Rate." Competition Pol'y Int'l Antitrust Chron. 11, no. 2 (2012).
Full Text: WWW

Co-author. "Behaviorally Informed Regulation." S. Mullainathan and E. Shafir, co-authors. In Behavioral Foundations of Public Policy, edited by E. Shafir, 440-64. Princeton: Princeton University Press, 2012.

Review of Seeds of Destruction: Why the Path to Economic Ruin Runs through Washington, and How to Reclaim American Prosperity, by G. Hubbard and P. Navarro. J. Econ. Literature 49, no. 3 (2011): 740-3.
Full Text: MLaw Repository

Co-author. "Exploring the Determinants of High-Cost Mortgages to Homeowners in Low- and Moderate-Income Neighborhoods." J. K. Dokko and B. J. Keys, co-authors. In The American Mortgage System: Crisis and Reform, edited by S. Wachter and M. Smith, 60-86. Philadelphia: Univ. of Pennsylvania Press, 2011.

Co-author. Preferences for Banking and Payment Services Among Low- and Moderate-Income Households. J. Dokko and E. M. Feit, co-authors. FEDS Working Paper, no. 2011-13; Univ. of Michigan Empirical Legal Studies Working Paper Series, no. 11-007; Univ. of Michigan Public Law and Legal Theory Working Paper Series, no. 238. Working Paper.
Full Text: MLaw Repository | SSRN

Co-editor. Insufficient Funds: Savings, Assets, Credit, and Banking Among Low-Income Households. R.M. Blank, co-editor. New York: Russell Sage, 2009.

Co-author. "Savings, Assets, Credit, and Banking Among Low-Income Households: Introduction and Overview." R.M. Blank, co-author. In Insufficient Funds: Savings, Assets, Credit, and Banking Among Low- and Moderate-Income Households, edited by M.S. Barr and R.M. Blank, 1-22. New York: Russell Sage, 2009.

"Financial Services, Saving, and Borrowing Among Low- and Moderate-Income Households: Evidence from the Detroit Area Household Financial Services Survey." In Insufficient Funds: Savings, Assets, Credit and Banking Among Low- and Moderate-Income Households, edited by M.S. Barr and R.M. Blank, 66-96. New York: Russell Sage, 2009.

Co-author. "The Case for Behaviorally Informed Regulation." S. Mullainathan and E. Shafir, co-authors. In New Perspectives on Regulation, edited by D. Moss and J. Cistrenino, 25-61. Cambridge, MA: The Tobin Project, 2009.
Full Text: MLaw Repository | WWW

Co-author. And Banking for All? J. K. Dokko and B. J. Keys, co-authors. Finance and Economics Discussion Series, vol. 2009, no. 34. Washington, D.C.: U.S. Federal Reserve Board. Working Paper.
Full Text: WWW
Professor

Activities

Appointed Professor of Public Policy, University of Michigan Gerald R. Ford School of Public Policy, September 2013 (by courtesy).

Gave remarks to the Consumer Financial Protection Bureau, Washington, D.C., July 25, 2013.

Gave remarks at the Aspen Institute's Financial Security Summit, Aspen, CO, July 10, 2013.

Participated in a panel discussion on "The New International Financial Architecture," International Judicial Conference, Berlin, Germany, May 23, 2013.

Gave remarks on "Financial Reform in the United States and Europe," American Center, U.S. Embassy, Prague, Czech Republic, May 21, 2013.

Gave remarks on "The Path of Financial Reform," University of Michigan M3 Convening on Finance, Law and Policy, University of Michigan Law School, May 14, 2013.

Moderated roundtable discussion with former Treasury Secretary Timothy F. Geithner on financial crises: analytics, prevention, and response, University of Michigan Law School, April 18, 2013.

Panelist on "Structural Reform in Finance," New York University Stern School of Business, April 11, 2013.

Delivered keynote address on "The Financial Crisis and the Path of Reform," Federal Reserve Bank of St. Louis, March 27, 2013.

Delivered remarks on "No Slack: The Financial Lives of Low-income Americans," Innovations Conference, Harvard University, March 21, 2013.

Delivered remarks on "The New International Financial Architecture," Fordham Law School, Feb. 11, 2013.

Delivered keynote address on "The Financial Crisis and the Path of Reform," George Washington University Law School, Feb. 8, 2013.

Delivered keynote address on"The Financial Crisis and Household Balance Sheets," Federal Reserve Bank of St. Louis, Feb. 6, 2013.

Delivered remarks on "No Slack: The Financial Lives of Low-Income Americans," Federal Reserve Bank of St. Louis, Feb. 5, 2013.

Delivered keynote address at AALS Financial Institutions Section luncheon on "Financial Reform," New Orleans, Jan. 5, 2013.

Presented "Behavioral Approaches to Consumer Financial Regulation" at University of Cambridge/London School of Economics Conference on "New Legal Thinking on Financial Regulation," Cambridge, England, Nov. 30, 2012.

Gave remarks to Knight-Wallace Fellows, Ann Arbor, Michigan, Nov. 20, 2012.

Participated in a panel presentation and debate on "Financial Reform," Federalist Society National Lawyers' Convention, Nov. 16, 2012.

Delivered keynote address at the symposium, "Developing Small Businesses and Leveraging Resources in Detroit," Federal Reserve Bank of Chicago, Detroit, Michigan, Oct. 17, 2012.

Presented "The LIBOR Scandal," Ross School of Business, University of Michigan, Ann Arbor, October 2012.

Presented "No Slack: The Financial Lives of Low-Income Americans," Author's Forum, University of Michigan, Ann Arbor, September 2012.

Presented "Behaviorally Informed Consumer Financial Protection," CGAP, the World Bank, Washington, D.C., June 2012.

Presented "No Slack: The Financial Lives of Low-Income Americans," RAND Behavioral Finance Forum, Washington, D.C., June 2012.

Presented "Behaviorally Informed Consumer Financial Protection," Harvard Law School, Cambridge, Massachusetts, April 2012.

Member, FDIC Advisory Committee on Financial Inclusion; Ideas42's Scientific Advisory Board; Russell Sage Foundation Working Group on Behavioral Economics and Consumer Finance.

Presented "Structural Challenges in Banking" at "The Financial System Five Years from Now," International Monetary Fund, Washington, D.C., March 23, 2012.

Presented "Perspectives on Oversight of Systemic Risk in Insurance," National Association of Insurance Commissioners, Miami, Florida, February 4, 2012.

Presented "Safe Harbors and Defaults: A Behavioral Perspective," ALI Conference on Consumer Protection, New York University School of Law, February 3, 2012.

Presented "No Slack: The Financial Lives of Low-Income Americans," Bert W. Wasserman Workshop in Law & Finance, Yale Law School, February 2, 2012.

Presented "Economic Inclusion: Education, Access, and Consumer Protection," Michigan Credit Union conference, Ypsilanti, Michigan, January 27, 2012.

Presented "The Financial Crisis and the Path of Reform," House Democratic Issues Conference, Cambridge, Maryland, January 26, 2012.

Presented "Safe Harbors and Defaults: A Behavioral Perspective" at a conference on "Retail Financial Services after the Crisis: Legal and Economic Perspectives on Investor and Consumer Protection," House of Finance, Goethe University, Frankfurt, Germany, January 20, 2012.

Presented "The Financial Crisis and the Path of Reform" at a conference on "Financial Regulation in Uncertain Times," Swiss Finance Institute, Lugano, Switzerland, December 15, 2011.

Presented "No Slack: The Financial Lives of Low-Income Americans" at Woodrow Wilson School and Ideas42 master class on Behavioral Economics, Princeton, New Jersey, December 2, 2011.

Presented "The Financial Crisis and the Path of Reform" at a lecture sponsored by the Program in Law and Public Affairs, Princeton University, December 1, 2011.

Presented "The Financial Crisis: Causes, Consequences, and Reform" at the 59th Annual Economic Outlook Conference, Research Seminar in Quantitative Economics, University of Michigan, November 17, 2011, reprinted in The Economic Outlook for 2012 (pp. 150-158).

Gave remarks, "The Financial Crisis and the Path of Reform," Filene Institute, Kansas City, Missouri, October 13, 2011.

Panelist, "Payday Lending and Alternative Financial Services," Columbia Law School, New York, NY, September 23, 2011.

Gave remarks, "The Financial Crisis and the Path of Reform," Northwest Credit Union Association, Tacoma, Washington, September 22, 2011.

Gave remarks, "The Financial Crisis and the Path of Reform," Rotary Club, Ann Arbor, Michigan, September 21, 2011.

Gave remarks, "The Financial Crisis and the Path of Reform," Michigan Law Alumni, Ann Arbor, Michigan, September 16, 2011.

Gave remarks, "The Financial Crisis and the Path of Reform," Economic Dinner Group, Ann Arbor, Michigan, September 12, 2011.

Gave testimony before the Senate Committee on Health, Education, Labor and Pensions, Hearing on "Improving For-Profit Higher Education: A Roundtable Discussion of Policy Solutions," July 21, 2011.

Panelist, "Dodd-Frank: Implications for Consumers," SIFMA Regulatory Reform Summit 2011, New York, NY, July 13, 2011.

Panelist, "Government Use of the Payment Card System," Federal Reserve Bank of Philadelphia, July 12, 2011.

Panelist, "Reforming Our Nation's Financial System: Dodd-Frank One Year Later," Aspen Institute, Washington, D.C., July 21, 2011.

Gave keynote address, "The Dodd-Frank Act, One Year On,” Pew Financial Reform Project and NYU Stern School of Business Conference, Washington, D.C., June 27, 2011.

Gave testimony before the House Committee on Financial Services, Subcommittee on Financial Institutions, Hearing on "Does the Dodd-Frank Act End Too Big to Fail?", June 14, 2011.

Gave remarks on "Economic Inclusion: Education, Access, and Consumer Protection," Federal Deposit Insurance Corporation, Washington, D.C., June 2, 2011.

Gave remarks on "A Framework for Housing Finance Reform," National Multi Housing Council, West Palm Beach, Florida, May 25, 2011.

Gave remarks on "Seeking Financial Stability," Federal Reserve Bank of Chicago, 11th Annual Payments Conference, Chicago, Illinois, May 19, 2011.

 
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