James E. Scott

Director, Banking & Financial Law Program


BS, Georgetown University School of Foreign Service
JD, University of Michigan School of Law


As Director of the LLM program in Banking and Financial Law, Jim is finally able to link his two professional interests: banking law and education. Jim began his career in banking law at the Board of Governors of the Federal Reserve System in 1973, shortly after graduating from law school. He spent the next four decades as a bank regulatory lawyer with the Federal Reserve and later a group of global US banks. He had senior regulatory positions with Security Pacific in Los Angeles, Bank of America in San Francisco, and Bankers Trust, Citigroup and Morgan Stanley in New York. Much of the work involved international regulation and international transactions. Jim completed this part of his legal career as the senior regulatory lawyer of Morgan Stanley and the general counsel of Morgan Stanley Bank.

Interspersed with his banking positions, Jim also held a position as Assistant Professor of Business Law teaching undergraduates in the business school of Pennsylvania State University. He was also an adjunct professor teaching banking law at the law schools of the University of California at Berkley and at Catholic University in Washington, DC. He also was an adjunct in the Banking and Financial Law LLM program. In addition, for fifteen years Jim has taught young banking lawyers twice a year through a three-day Banking Law Basics course he helped to establish as chair of the Banking Law Committee of the American Bar Association.

Jim believes relocation to Boston may enhance the opportunities to enjoy his two of his personal interests, baseball and biking. As a lifelong Cleveland fan, Jim roots for the Indians and anyone playing the Yankees. He has already noticed he appears to be in a hotbed for rooting against the Yankees. As a biker who began his career riding to work at the Federal Reserve in Washington and who has been to Europe for almost a dozen biking trips, this move brings him closer to some great riding areas. Unfortunately, the graduate program staff may be all too aware the location does not enhance or inhibit his third great joy: belting out Beach Boys songs. After all, Jim was born in Surf City, Santa Cruz, California.


2 credits

This course provides an introduction to and overview of the banking and financial services industry under US law and where US laws intersect with international banking supervision structures and principles. The course focuses on US banking structures and regulations, with an emphasis on the public or regulatory policies behind the laws and regulations. Recent US legislation in the Dodd-Frank Act and recent international reform initiatives such as Basel III receive close scrutiny. The course addresses a range of safety and soundness rules, permissible activity issues, chartering and merger activity procedures and capital and liquidity requirements. The course also addresses administrative procedures including bank examination and supervision, the regulatory supervisory process and bank enforcement actions. Students are asked to do significant reading and to participate in classroom discussion about course subject matter and to be aware of current developments in the financial services industry. This is a required course for all students studying for the degree of Master of Laws in Banking and Financial Law.

FALL 2016: LAW BK 925 A1 , Sep 7th to Dec 7th 2016
Days Start End Credits Instructors Bldg Room
Wed 6:30 pm 8:30 pm 2 James E. Scott LAW 605
FALL 2017: LAW BK 925 A1 , Sep 6th to Dec 6th 2017
Days Start End Credits Instructors Bldg Room
Wed 4:20 pm 6:20 pm 2 James E. Scott LAW 605
FALL 2017: LAW BK 925 OL , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg Room
ARR TBD TBD 2 James E. Scott

3 credits

This course will survey the regulatory architecture of major U.S. financial institutions, including commercial banks, investment banks, hedge funds, mutual funds, and insurance companies. Understanding the regulatory framework surrounding financial institutions requires situating them within a rapidly evolving political, technological and global context. The course will explore various regulatory mechanisms, such as bank supervision, security disclosures, fiduciary duties, consumer protections, capital requirements, and risk monitoring. The design of these complex governance tools has important implications for the health and stability of the economy, and thus for society. Attendance at the Graduate Program in Banking and Financial Law's three-day program, "Financial Services Basics," is highly recommended. PREREQUISITE: Business Fundamentals. GRADING NOTICE: This class does not offer the CR/NC/H option.

FALL 2016: LAW JD 864 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg Room
Tue,Thu 2:30 pm 3:55 pm 3 James E. Scott LAW 209
FALL 2017: LAW JD 864 A1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg Room
Tue,Thu 4:20 pm 5:45 pm 3 Rory Van Loo LAW 410
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