Richard Scott Carnell

Associate Professor of Law

Curriculum Vitae
SSRN (academic papers)
[email protected]

Office: 8-112

Faculty Assistant: Joseph Nolfo, [email protected]

Areas of Expertise: Regulated Industries; Banking Regulation; Government-sponsored Enterprises; Regulation of Financial Institutions

    • Assistant Secretary for Financial Institutions, United States Department of the Treasury, 1993-1999;
    • Senior Counsel (1989-93) and Counsel (1987-88), United States Senate Committee on Banking, Housing, and Urban Affairs;
    • Attorney, 1984-87, Board of Governors of the Federal Reserve System;
    • Attorney (1982-84), Broad, Schulz, Larson & Wineberg (San Francisco).
    • Principal subjects: Banking Law, Financial Institutions, Corporations


    • Harvard University, JD, 1982
    • Yale University, BA, 1975
  • Representative Publications

    • Banking Law and Regulation, with Jonathan R. Macey & Geoffrey P. Miller (4th ed. 2008)
    • Handling the Failure of a Government-Sponsored Enterprise, 80 Washington Law Review 565-642 (2005)
    • Federal Deposit Insurance Versus Federal Sponsorship of Fannie Mae and Freddie Mac: The Structure of Subsidy, in Serving Two Masters, Yet Out of Control: Fannie Mae and Freddie Mac (Peter J. Wallison ed.; AEI Press 2001)
    • A Partial Antidote to Perverse Incentives: The FDIC Improvement Act of 1991, 12 Annual Review of Banking Law 317-71 (1993); reprinted in abridged form in 9
    • Research in Financial Services: Private and Public Policy 199-233 (1997)
    • Straining Out Gnats and Swallowing Camels: The Question of Subsidy to Subsidiaries of Banks, in 35 Federal Reserve Bank of Chicago Conference on Bank
    • Structure & Competition 561-74 (1999)