Richard Carnell
Mr. Carnell, Associate Professor at Fordham Law School, specializes in the regulation of financial institutions and co-authors a leading textbook in the field. His interests include bank soundness regulation, affiliations between banks and other firms, and financial institution failure. As Assistant Secretary of the Treasury for Financial Institutions (1993-1999), he played a key role in securing legislation to authorize interstate banking and branching. As senior counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs (1987-1993), he was architect and principal drafter of the FDIC Improvement Act of 1991, which tightened capital discipline on insured banks, required risk-based premiums, and ended for 17 years the practice of treating large banks as “too big to fail.” He also helped develop the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which reformed thrift regulation. He holds a B.A. from Yale University and a J.D. from Harvard Law School.
Mr. Carnell, Associate Professor at Fordham Law School, specializes in the regulation of financial institutions and co-authors a leading textbook in the field. His interests include bank soundness regulation, affiliations between banks and other firms, and financial institution failure. As Assistant Secretary of the Treasury for Financial Institutions (1993-1999), he played a key role in securing legislation to authorize interstate banking and branching. As senior counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs (1987-1993), he was architect and principal drafter of the FDIC Improvement Act of 1991, which tightened capital discipline on insured banks, required risk-based premiums, and ended for 17 years the practice of treating large banks as “too big to fail.” He also helped develop the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which reformed thrift regulation. He holds a B.A. from Yale University and a J.D. from Harvard Law School.