{"id":93464,"date":"2022-08-17T09:00:00","date_gmt":"2022-08-17T13:00:00","guid":{"rendered":"https:\/\/www.bu.edu\/law\/?post_type=bu-article&#038;p=93464"},"modified":"2022-08-24T09:53:01","modified_gmt":"2022-08-24T13:53:01","slug":"moving-the-fed-forward","status":"publish","type":"bu-article","link":"https:\/\/www.bu.edu\/law\/record\/articles\/2022\/moving-the-fed-forward\/","title":{"rendered":"Moving the Fed Forward"},"content":{"rendered":"\t<div class=\"wp-block-editorial-leadin record-block-editorial-leadin is-style-side-by-side has-media has-wider has-box has-media-focus-center-middle has-primary-theme\">\n\t\t<div class=\"container-lockup\">\n\n\t\t\t<div class=\"wp-block-leadin-media\">\n\t\t\t\t\n\t\t\t\t<img width=\"1500\" height=\"2000\" src=\"\/law\/files\/2022\/07\/Kate-Fulton.jpg\" class=\"\" alt=\"Kate Fulton (&#039;05)\" loading=\"lazy\" srcset=\"https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton.jpg 1500w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-477x636.jpg 477w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-768x1024.jpg 768w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-1152x1536.jpg 1152w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-620x826.jpg 620w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-512x682.jpg 512w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-774x1032.jpg 774w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-991x1321.jpg 991w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-258x344.jpg 258w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-397x529.jpg 397w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-516x688.jpg 516w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-794x1058.jpg 794w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-1023x1364.jpg 1023w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-1239x1652.jpg 1239w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-750x1000.jpg 750w, https:\/\/www.bu.edu\/law\/files\/2022\/07\/Kate-Fulton-600x800.jpg 600w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"container-words-outer\">\n\n\t\t\t\t\t\n\t\t\t\t\t<div class=\"container-words-inner\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-prepress-tag\">Public Service<\/span>\n\t\t\t\t\t\t\t\t<h1 class=\"head\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tMoving the Fed Forward\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h1>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"deck\">Former litigator Kate Fulton (\u201905) uses her legal training and problem-solving savvy to help the Federal Reserve operate smoothly.<\/h4>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\n\t\t\t\n\t\t<\/div>\n\n\t\t\n\t<\/div>\n\n\t\n<div class=\"wp-prepress-component-metabar record-prepress-layout-metabar\">\n\t<div class=\"wp-prepress-component-metabar-wrapper\">\n\t\t\t\t\t<div class=\"wp-prepress-component-metabar-date\">August 17, 2022<\/div>\n\t\t\n\t\t\t\t<div class=\"wp-prepress-component-metabar-credits\">\n\t\t\t\t\t\t\t\t<ul data-credit-type=\"By\">\n\t\t\t\t\t\t<li><a href=\"https:\/\/www.bu.edu\/law\/record\/authors\/corinne-steinbrenner\/\">Corinne Steinbrenner<\/a><\/li>\n\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"wp-prepress-component-metabar-share js-bu-prepress-share-tools\">\n\t\t\t<span class=\"icon-twitter\"><span>Twitter<\/span><\/span>\n\t\t\t<span class=\"icon-facebook\"><span>Facebook<\/span><\/span>\n\t\t\t<span class=\"icon-action\"><\/span>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\t\n\n\n<div class=\"wp-block-editorial-introparagraph record-block-editorial-introparagraph is-style-dropcap-dimensional has-dropcap has-dropcap-color-quinary\"><div class=\"wp-block-editorial-introparagraph-content\"><p>When Kate Fulton enrolled at BU Law in 2002, she envisioned herself climbing a very straight ladder: from law school to a series of impressive clerkships and then up the ranks to partner at a major law firm.<\/p><\/div><\/div>\n\n\n\n<p>\u201cThat is not what happened. I don\u2019t even practice law,\u201d Fulton (\u201905) says. \u201cBut I have an amazing career that I\u2019m really proud of. Law school opens up a whole lot of career opportunities, and I\u2019m grateful that I didn\u2019t keep those blinders on.\u201d<\/p>\n\n\n\n<p>Rather than a straight upward climb, Fulton\u2019s career has taken a series of right turns, resembling more of a lattice than a ladder.<\/p>\n\n\n\n<p>Today, Fulton works for the Federal Reserve in Washington, DC, as deputy director of operations for the Fed\u2019s Division of Supervision and Regulation. As an operations professional, she says, her job is to ensure the backbone of her organization is strong and working well.<\/p>\n\n\n\n<p>\u201cI want to make sure that we have the people, the processes, the technology, and the communication to carry out the mission.\u201d<\/p>\n\n\n\n<p>Fulton\u2019s calendar is packed with meetings\u2014often 10 a day. She\u2019s constantly gathering information about roadblocks that arise in her organization. Her job is to find ways to remove those barriers so her team can more efficiently do its work: supervising and regulating financial institutions and activities with the goal of promoting a safe, sound, and stable financial system that supports the growth and stability of the US economy.<\/p>\n\n\n\n<h2 id=\"headline-3\" class=\"wp-block-editorial-headline record-block-editorial-headline is-style-emphasis-color\"><strong>Rooted in the Law<\/strong><\/h2>\n\n\n\n<p>Operations management was nowhere on Fulton\u2019s radar during her education. She studied communications at the University of Maryland and then attended law school because being an attorney seemed a good fit for someone who\u2019d always enjoyed making and defending an argument. Fulton loved law school, she says, because BU Law provided an environment for good-natured conversation and debate.<\/p>\n\n\n\n<p>\u201cWhether because I actually meant it or just enjoyed the conversation, I took some fairly extreme positions in conversations about the law with friends at BU,\u201d Fulton says. \u201cAnd I tell you, that ability that I gained at BU to debate an issue respectfully and maintain relationships is something that benefits me every day.\u201d<\/p>\n\n\n\n<p>Fulton\u2019s early interests were civil rights and discrimination. After law school, she worked at law firms that specialized in employment discrimination, litigating cases for federal employees who believed they\u2019d been fired, disciplined, or passed over for promotions for illegal reasons.<\/p>\n\n\n\n<p>That work sparked Fulton\u2019s interest in the ways federal agencies craft and implement employment policies, which led to her career\u2019s first right turn: In 2009, Fulton left her law firm for a job as an attorney advisor for US Customs and Border Protection. Working inside a federal agency, she says, gave her opportunities to improve employment policies and practices, helping to avoid the types of lawsuits she\u2019d previously litigated.<\/p>\n\n\n\n<div class=\"wp-block-bu-pullquote record-block-bu-pullquote alignwide is-style-pop has-quinary-theme\"><div class=\"wp-block-bu-pullquote-inner\"><blockquote><div class=\"container-lockup\"><div class=\"container-icon-outer\"><div class=\"container-icon-inner\"><\/div><\/div><div class=\"container-text\"><hr\/><div class=\"quote-sizing\">You can\u2019t execute the mission of a federal agency if you don\u2019t run it well. If trains aren\u2019t running on time, if you haven\u2019t set up good processes, good governance, good controls.<\/div><footer class=\"caption\">Kate Fulton (&#8217;05)<\/footer><hr\/><\/div><\/div><\/blockquote><\/div><\/div>\n\n\n\n<h2 id=\"headline-2\" class=\"wp-block-editorial-headline record-block-editorial-headline is-style-emphasis-color\"><strong>Building a Niche in Finance<\/strong><\/h2>\n\n\n\n<p>In 2013, Fulton moved to the newly formed Consumer Financial Protection Bureau (CFPB), motived by the bureau\u2019s mission and by the chance to shape the practices of a new agency. Soon after she arrived, the CFPB\u2019s workforce voted to unionize, and Fulton served as an attorney for the team negotiating the bureau\u2019s first collective bargaining agreement. She is proud of the work she did, she says, to understand the interests of all stakeholders and to help negotiate an agreement that included a mix of established best practices and fresh ideas.<\/p>\n\n\n\n<p>Fulton\u2019s career took another turn in 2015, when she moved to a job at the CPFB that had nothing to do with employment law. In her new role, she provided legal advice to senior leadership related to the CPFB\u2019s core mission of ensuring consumers are treated fairly by lenders and other financial institutions.<\/p>\n\n\n\n<p>\u201cI\u2019m forever grateful to the people who gave me that opportunity,\u201d Fulton says. \u201cThat complete jump from one area of law to another was really challenging, but really satisfying.\u201d<\/p>\n\n\n\n<p>Working closely with senior leaders, she says, piqued her interest in operations.<\/p>\n\n\n\n<p>\u201cYou can\u2019t execute the mission of a federal agency if you don\u2019t run it well,\u201d she says. &#8220;If trains aren\u2019t running on time, if you haven\u2019t set up good processes, good governance, good controls.\u201d<\/p>\n\n\n\n<p>In 2018 Fulton was named the CPFB\u2019s chief operating officer (COO). Two years later, she became COO of another financial regulator, the Federal Housing Finance Agency. In 2021, she took her current job at the Federal Reserve.<\/p>\n\n\n\n<p>\u201cAs I\u2019ve moved through the financial world, the Federal Reserve was always the gold standard\u2014no pun intended,\u201d she says. \u201cIt\u2019s the central bank of the United States. I couldn\u2019t pass up a chance to contribute to that mission.\u201d<\/p>\n\n\n\n<h2 id=\"headline-1\" class=\"wp-block-editorial-headline record-block-editorial-headline is-style-emphasis-color\"><strong>A Clear Mission and A Powerful Skillset<\/strong><\/h2>\n\n\n\n<p>Fulton enjoys working at the Fed for the same reasons she\u2019s enjoyed all her government positions. Whether working at a law enforcement agency like Customs and Border Protection or a financial one like the CPFB, she says, the mission is clear: you serve the public. You don\u2019t work to earn a profit but to bring about the best outcomes for the American people.<\/p>\n\n\n\n<p>Achieving good outcomes as an operations manager, she says, requires good \u201cpeople skills\u201d\u2014knowing how to connect and communicate with people and how to trust them with what you\u2019ve delegated to them. It also requires a nimbleness of perspective, an ability to transition from seeing the nitty-gritty technicalities to taking in the broader strategic view, and then using both perspectives to make good decisions.<\/p>\n\n\n\n<p>Ultimately, she says, working in operations is about solving problems, something her legal training prepared her to do.<\/p>\n\n\n\n<p>\u201cOn law school finals, you\u2019d be given a scenario, just a set of facts, and then you\u2019d have to analyze how the law would apply and how it would resolve,\u201d she says. \u201cThat\u2019s what I do every day. I have a problem. I have to go out and find what rules apply. What governs this? What are the restraints? What are the opportunities? And how do they connect? There\u2019s never just one rule. There are always overlapping rules, and finding the intersection of them and then applying those to the facts in a way that gets the best outcome\u2014that\u2019s my job. The legal skills are critical.\u201d<\/p>\n\n\n\n<p>Fulton\u2019s colleagues tend to have PHDs and MBAs, not JDs. She\u2019s sometimes asked if she regrets going to law school, given how her career turned out. Her response is an emphatic no.<\/p>\n\n\n\n<p>\u201cI would not be here if I hadn\u2019t gone to law school and had those experiences,\u201d she says. Legal training has made her not only a better professional, she adds, but also a better person.<\/p>\n\n\n\n<p class=\"is-style-end-of-article\">\u201cMy ability to, in a disimpassioned way, analyze a situation and come up with a path forward\u2014that helps me in dealing with my teenage daughter, helps me in navigating big-ticket conversations with my husband. Should we buy this house? Should we move to the city? The skillset doesn\u2019t just translate into a good career. It can translate into a good life.\u201d<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>When Kate Fulton enrolled at BU Law in 2002, she envisioned herself climbing a very straight ladder: from law school to a series of impressive clerkships and then up the ranks to partner at a major law firm.<\/p>\n","protected":false},"author":11260,"featured_media":94305,"comment_status":"closed","ping_status":"closed","template":"","meta":{"bu_prepress_billboard":"{\"post_id\":92310,\"hed\":\"Working the Big Cases\",\"dek\":\"Next Article\",\"class\":\"wp-block-editorial-billboard record-block-editorial-billboard has-dark-overlay has-media\",\"backgroundId\":\"92311\",\"backgroundUrl\":\"\\\/law\\\/files\\\/2022\\\/07\\\/Empty_Frames_at_Isabella_Stewart_Gardner_Museum-970x456.jpg\",\"backgroundType\":\"image\",\"backgroundOpacity\":\"100\"}","_bu_prepress_primary_term":"Public Service","_bu_prepress_primary_term_manual":""},"tags":[4137,761],"bu-publication":[3742],"record-article-category":[3744,4135],"record-topic":[],"bu_edition":[],"media_type":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/93464"}],"collection":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article"}],"about":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/types\/bu-article"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/users\/11260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/comments?post=93464"}],"version-history":[{"count":8,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/93464\/revisions"}],"predecessor-version":[{"id":93473,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/93464\/revisions\/93473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media\/94305"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media?parent=93464"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/tags?post=93464"},{"taxonomy":"bu-publication","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-publication?post=93464"},{"taxonomy":"record-article-category","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/record-article-category?post=93464"},{"taxonomy":"record-topic","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/record-topic?post=93464"},{"taxonomy":"bu_edition","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu_edition?post=93464"},{"taxonomy":"media_type","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media_type?post=93464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}