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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...


Financial Regulation: Law and Policy. Foundation Press, Forthcoming, 2016.

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

​"Accountability and Independence in Financial Regulation: Public Engagement, Checks and Balances, and Other Innovations." Law & Contemp. Probs. (Forthcoming).​​

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

"Who's in Charge of Global Finance?" Geo. J. Int'l L. 45, no. 4 (2014): 971-1027.
Full Text: WWW

​"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

"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

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

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. "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. "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.

Co-editor. Insufficient Funds: Savings, Assets, Credit, and Banking Among Low-Income Households. R.M. Blank, co-editor. 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.
Professor

Activities

Moderator, "Financial Opportunity," Clinton Global Initiative, Denver, Colorado, June, 2014.​

Taught "International Banking and Finance," University of Tokyo Graduate School of Law & Politics, Tokyo, Japan, June 2014.​

Presented, "Global Coordination in International Finance," Financial Services Authority of Japan, Tokyo, Japan, June, 2014.​

Presented, "Who's in Charge of Global Finance?", University of Tokyo Graduate School of Law & Politics, Tokyo, Japan, June, 2014.​

Presented, "Who's in Charge of Global Finance?", University of Kyoto School of Law, Kyoto, Japan, June, 2014.​

Presented "Stabilization Policies in Comparative Perspective," Conference Honoring Ned Gramlich, Federal Reserve Board, Washington, D.C., May, 2014.​

Roundtable Discussant, House of Debt Book Launch, Center for Equitable Growth, Washington, D.C., May, 2014.​

Keynote Remarks, "Behavioral Economics & Consumer Empowerment," Federation of Community Development Credit Unions Annual Conference, Detroit, Michigan, May, 2014.​

Keynote Remarks, "Behavioral Economics & Consumer Empowerment," LendIt Conference, San Francisco, California, May, 2014, available online.​
​​
Presented, "The New, New International Financial Architecture," American Society of International Law, April, 2014.​

Presented, "The New, New International Financial Architecture," Georgetown Law School, April, 2014.

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Presented, "Finance and Inequality," Yale Law School, March, 2014.​

Comments, "Administrative Law Innovations in the Dodd-Frank Act," Columbia Law School, February, 2014.​

Presented, "No Slack: The Financial Lives of Low-income Americans," Russell Sage-Sloan Behavioral Economics and Consumer Finance Working Group Meeting, New York, NY, December, 2013.​

Remarks, Working Families Success Network Conference, Detroit, Michigan, November, 2013.​

Remarks, "Behaviorally Informed Consumer Financial Services Regulation," Federal Reserve Bank of Cleveland, September, 2013.​

Remarks at the International Transaction Clinic's Fifth Anniversary Celebration, September, 2013.​​

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

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

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

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

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

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

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

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

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

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

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

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

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

Delivered keynote address at AALS Financial Institutions Section luncheon on "Financial Reform," New Orleans, January 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, November 2012.

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

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

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

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

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

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

 
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