MADISON, Wis. (1/21/11)--Former U.S. Treasury official Michael S. Barr is the newest Filene Research Fellow, announced the Filene Research Institute Thursday. Barr, now a professor of law at the University of Michigan Law School, was formerly Assistant Secretary for Financial Institutions at the U.S. Treasury Department. He joins a panel of researchers and academics that creates a formal link between the Filene Research Institute and top thought leaders in the consumer finance world. "I'm excited to join the top-notch Research Fellows and contribute to the work of Filene in understanding the financial services needs of American households and businesses," he said. Barr currently teaches financial regulation and international finance, and is co-founder of the International Transactions Clinic. In 2009 and 2010, while he was at the Treasury, he was a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Credit Union National Association (CUNA) worked closely with Barr while he was at the Treasury on various issues such as small business lending. He spoke at the CUNA 2010 Governmental Affairs Conference in Washington, D.C., telling attendees that credit unions are an essential part of the "fabric" of communities throughout the country and that the Treasury would work with them to expand their small business lending activity (News Now
Feb. 24, 2010). Barr also said the Treasury and the National Credit Union Administration had a strong relationship, working together to resolve issues affecting credit union legacy assets. "Acting Professor Barr is a testament to both the value and the potential of credit unions in today's marketplace," said Mark Meyer, CEO of the Filene Research Institute. "His academic work and his intimate knowledge of the currents of financial regulation will help Filene continue to publish essential research and experiment with new, innovative models to deliver consumer financial services." Barr conducts large-scale empirical research regarding financial services and writes about issues in financial regulation. He also is author of Building Inclusive Financial Systems
and Insufficient Funds
. He also has served as Treasury Secretary Robert E. Rubin's special assistant, as deputy assistant secretary of the Treasury, as special advisor to President Bill Clinton, and as special advisor and counselor on the policy planning staff at the State Department. Other Filene Research Fellows include:
* Robert Litan, vice president for research and policy at Kauffman Foundation; * Annamaria Lusardi, professor of economics and director, Financial Literacy Center, Dartmouth College; * Eldar Shafir, William Stewart Tod Professor of Psychology and Public Affairs, Princeton University; * Dorian Stone, partner, McKinsey and Company; * Peter Tufano, Sylvan C. Coleman Professor of Financial Management, Harvard Business School, and incoming dean of Said Business School, University of Oxford; and * James A. Wilcox, J.J. and M.B. Lowrey Professor of Financial Institutions, University of California Berkeley, Haas School of Business.