Graduate Program in Banking & Financial Law

The graduate program in Banking & Financial Law is the oldest graduate program of its kind in the United States. Since its inception in 1984, the program has trained more than 2,000 lawyers for leadership positions in both domestic and foreign banking and financial services industries. Our graduates span the globe and hold influential positions in government, law firms, corporations, financial institutions of all types, and multilateral and non-governmental organizations.

The program has its roots in BU’s Morin Center for Banking & Financial Law, which was founded in 1978 as the first institution in an American university devoted to the study of banking law. The program’s mission, however, has never been more relevant than today. With the recent upheavals in financial markets, the legal and regulatory structure of the financial system has been redesigned and rebuilt. The future will offer opportunities in abundance for financial services lawyers who are familiar with the fundamentals of the industry and the regulatory and supervisory environment in which it operates.

Program Overview

The graduate program in Banking & Financial Law prepares domestic and foreign-trained lawyers for leadership positions in the American and international banking and financial services industries. It is challenging and is designed specifically for students who wish to obtain a graduate-level legal education in the field of financial services law. Ideal candidates are financial services lawyers who bring their expertise to the classroom and who want to improve their skills in today’s rapidly changing world of financial services law. The program, which may be completed on a full- or part-time basis, is also appropriate for attorneys seeking to begin a new career after spending the first part of their professional lives in another legal field. Students receive a practical education in financial services law, enabling them to contribute effectively in a professional setting.

The graduate program is the only financial services LLM program in the U.S. with its own faculty and with a curriculum of courses designed exclusively for graduate study. It is specifically designed for graduate students and consists of three types of courses: regulatory, transactional, and business-oriented. Regulatory courses provide a solid grounding in the structure and content of laws and regulations. Transactional courses familiarize the student with typical transactions and activities done by financial services lawyers. Business-oriented courses provide a lawyer with an understanding of the business and economic environment to counsel and represent clients effectively.

The curriculum touches on different aspects of banking, securities and insurance law. It is reviewed and revised periodically to ensure that it reflects current developments and anticipates future trends in the industry.

Successful completion of all academic requirements of the graduate program leads to the conferment of the LLM in Banking & Financial Law degree.

Optional Concentrations

The program offers six optional concentrations:

• American Banking & Financial Law offers a full range of financial law courses designed for students who intend to practice law or work in the United States financial services industry.
• Compliance Management focuses on designing a compliance system for financial and commercial institutions in a heavily regulated environment in order to avoid mismanagement and fraud.
• Financial Services Transactions is ideal for lawyers seeking to gain experience in conducting complex financial services transactions (internship required).
• International Banking & Financial Law is intended to meet the needs of lawyers who must work in a financial services market that is increasingly global in scope.
• Lending & Credit Transactions is geared for lawyers who wish to specialize in debt financing, including issues involving the constitution of security over property, foreclosure, and bankruptcy.
• Securities Transactions is designed for those interested in matters involving equity and debt securities and the management of funds.

Faculty

Courses in the graduate program in Banking & Financial Law are taught by nationally and internationally recognized experts from law firms, financial institutions, government agencies, accounting firms, banking agencies, and the academy. Faculty members of Boston University’s School of Law and School of Management who are prominent in teaching and research in banking and finance services also teach in the program. The combination of academicians, legal practitioners, and financial services professionals gives students the benefit of both depth and breadth in the practice of contemporary banking and financial law.

Internships and Fellowships

The Financial Services Law Internship course was launched to provide students with real-world experience in the practice of financial services law. During their second semester, foreign and domestic students completing the concentration in Financial Services Transactions may work at a law firm, financial services organization, or regulatory agency under the supervision of a lawyer and a faculty advisor. Students have completed internships at ACCION International, Bank of America, Craig and Macauley PC, the Federal Reserve Bank of Boston, and Neighborhood of Affordable Housing, among others. In recent years, the graduate program in Banking & Financial Law has teamed with international organizations, such as the International Development Law Organization and the Financial Services Volunteer Corps, to send one or two of our students and recent alumni to spend a summer working on microfinance projects around the world. In the past, students have been sent on assignment to Rome, Moscow, Chennai (India), and Buenos Aires.

Student Activities

The program is administered by a team of professionals dedicated to the academic and personal growth of each student. At the beginning of the academic year, students attend an orientation program and Financial Services Basics, a two-day primer on the business of the financial services industry. Each student meets with an academic advisor to develop an individualized study plan. The program regularly collaborates with the Federal Reserve Bank of Boston, the Boston Bar Association, and the Center for Finance, Law & Policy to organize lectures, symposia, and round-table discussions on issues affecting the financial services industry. Students are encouraged to deliver lectures to their colleagues as part of the Student Lecture Series. Membership in the Review of Banking & Financial Law, a scholarly publication of BU’s School of Law, is open to students in the program through competitive examination. Students may also participate in community service programs organized by the program, such as those involving financial literacy and foreclosure prevention.

Degree Requirements and Curriculum

As of the 2012–2013 academic year, the program requires successful completion of 12 courses. The course offerings are focused and seek to give students a thorough understanding of financial services law through a combination of regulatory, transactional, and business-oriented courses. Foreign-trained students seeking to meet the requirements of a state’s bar exam are welcome to enroll in courses offered through the School’s internationally recognized JD program. Electives at other Boston University graduate or professional schools, such as the Graduate School of Management, are available as well.

Additional Information and Applications:

You can learn more about the graduate program in Banking & Financial Law, including the application process and tuition and financial information, at www.bu.edu/law/prospective/llm/banking.

• Candidates must hold a JD from an accredited law school in the United States. For applicants educated abroad, we require a first degree in law, such as a Bachelor of Laws or its equivalent, from a comparably recognized law school or law faculty outside the United States.
• LLM Scholar Program: All applicants to the graduate program in Banking & Financial Law are eligible to receive merit-based scholarship awards in the form of generous partial tuition waivers. All applicants are automatically considered, with no additional forms required.

Prospective students may contact the program at:

Boston University School of Law
Graduate Program in Banking & Financial Law
765 Commonwealth Avenue, Suite 1524
Boston, MA 02215
Telephone: 617.353.5323
Fax: 617.358.2720
Email: banklaw@bu.edu