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Past Event

Where are the Black financial regulators?

A joint Brookings Institution-Georgetown Law event

Past Event

African Americans have been missing from financial regulation for generations. Of the 327 regulators to have been appointed to posts requiring congressional confirmation, only 10 have been Black. There has never been a Black comptroller of the currency or Black chairman of the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission, or the Federal Reserve. And today, the staffs of political appointeeswhether Democrat or Republican—are, with few exceptions, almost devoid of Black staff members. As a result, African Americans are left out of the decisionmaking impacting how trillions of dollars in U.S. assets are regulated and how capital is allocated in society. 

On September 2, Georgetown Law’s Institute of International Economic Law and the Brookings Institution hosted an event exploring the absence of African Americans in financial regulation and the drivers behind it. This event featured remarks from Rep. Maxine Waters, chairwoman of the House Financial Services Committee. Following her remarks was a presentation by Chris Brummer, Georgetown Law professor, of his new study—to be released the morning of the event and recently featured in the Wall Street Journalproviding empirical data on Black regulators. A panel of experts including Neel Kashkari, Harold A. Black, Sharon Y. Bowen, and Paul Thornell then responded to the research. U.S. Senator Sherrod Brown (D-Ohio) delivered closing remarks.

Viewers can submit questions via email to events@brookings.edu or via Twitter using #BlackRegulators. 

Read the working paper here.

Agenda

Keynote remarks

Presentation of research

Chris Brummer

Faculty Director - Institute of International Economic Law

Agnes N. Williams Research Professor - Georgetown University

Panel discussion

Harold A. Black

Professor Emeritus - University of Tennessee, Knoxville

Former Board Member - National Credit Union Administration

Sharon Y. Bowen

Former Commissioner - Commodity Futures Trading Commission

Chris Brummer

Faculty Director - Institute of International Economic Law

Agnes N. Williams Research Professor - Georgetown University

Closing remarks

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