Dr. Fraher began his career in financial services as a senior attorney for the Federal Deposit Insurance Corporation, litigating compliance and enforcement proceedings. From the FDIC, he moved to the Fed, where he served as lead counsel to the retail payments function during a period of breathtaking change. For the past few years, he has been teaching a law school course called The Law of Payment Systems, and is currently developing a new course tentatively titled Regulating FinTech. After retiring from the Fed, he founded his own firm, Payment Innovation and Regulation LLC, which provides consulting and expert witness services to banks, payment processors, and fintechs.
Innovation in financial services is moving at warp speed. Law, regulation, and public policy lag. We help the industry keep up with the moving goal posts by offering webinars and in person presentations on emerging issues and by educating the next generation of payment lawyers.
A class for professional students in business, engineering, or law, exploring the most significant legal, regulatory, and public policy issues triggered by FinTech innovations, including public and private digital currencies, open banking, new business and legal roles played by FinTechs, instant payments, machine learning and artificial intelligence, big tech and big data versus privacy and individual autonomy, and cyber threats.
Old laws attach to emerging payments, sometimes in unforeseen ways…. This course introduces law students to the ways in which the laws of checks, funds transfers, credit and debit cards, and the automated clearing house, together with federal regulatory overlays of consumer protection, privacy, and compliance, structure both today’s payments service but also tomorrow’s.