S. FinTech Innovation & the Transformation of Financial Services: Business Models, Regulatory Structures & Policy Issues
Course Information
- Course Number
- L8037
- Curriculum Level
- Upperclass
- Areas of Study
- Administrative Law and Public Policy, Commercial Law and Transactions, Corporate Law, Business, and Finance, International and Comparative Law
- Type
- Seminar
Section 001 Information
Instructor
Todd Baker
Lecturer in Law
Section Description
This course will focus on understanding the innovative financial technologies (Fintech) that are rapidly changing the way consumer financial services have traditionally been delivered in the U.S., and exploring the business, legal and public policy challenges of integrating these technologies with traditional banking and financial services.
The goal of the course will be for students to understand the development of Fintech innovation in the U.S., the evolving business models and regulatory and legal structures that underlie Fintech operations, and the opportunities and risks that emerging Fintech business models, including crypto currency and stablecoins, pose for U.S. financial, legal and regulatory systems. Non-U.S. examples will be used to compare and contrast different approaches to key policy issues.
In practical terms, by the end of the course, students should be able to respond to proposal for a new consumer Fintech application with a high level understanding of the business, legal and regulatory questions the Fintech raises.
Four key themes will be emphasized:
1. Learning how to analyze business models in emerging FinTech
2. Understanding how FinTech competes and cooperates with, and compensates, the existing financial services ecosystem
3. U.S. Financial regulatory and legal system coverage of, mismatches with, and adaptation to, emerging FinTech business models
4. Public Policy issues surrounding FinTech, Including AI, data privacy and consumer financial health
The format of the course will be a combination of lectures and seminar discussions.
There will be several group and individual assignments during the semester and a final longer assignment.
The course will be graded as follows: Class participation: 50%. Class assignments: 25%. Final assignment: 25%
This course will be instructed by a Senior Fellow of the Richman Center for Business, Law & Public Policy, Todd H. Baker. https://www8.gsb.columbia.edu/richman/todd-baker
- School Year & Semester
- Fall 2024
- Location
- WJWH 415
- Schedule
-
Class meets on
- Tuesday
- Points
- 2
- Method of Evaluation
- Other
- J.D Writing Credit?
- Minor (upon consultation)
- Major (only upon consultation)
- LLM Writing Project
- Upon consultation
Learning Outcomes
- Primary
-
- At the end of the course, students will have acquired understanding of and/or facility in a specific body of law, including major policy concerns
- At the end of the course, students will have acquired understanding of and/or facility in statutory and regulatory analysis, including close reading of statutes and regulations, and application to facts
- At the end of the course, students will have acquired understanding of and/or facility in use of other disciplines in the analysis of legal problems and institutions, e.g., philosophy; economics,other social sciences; and cultural studies
- At the end of the course, students will have acquired understanding of and/or facility in comparative law analysis of legal institutions and the law
Course Limitations
- Instructor Pre-requisites
- Corporations (for law students only)
- Instructor Co-Requisites
- None
- Requires Permission
- Yes
- Recommended Courses
- Interest in financial services, consumer and capital markets, data/privacy, venture capital and business analysis a plus. Non-law students should not be concerned about lack of legal training.
- Other Limitations
- Permission required. Please submit request to [email protected] indicating reasons for interest in the course by August 31. Open to all upper level JD and LLM Law Students plus MBA students, SIPA students and other interested graduate students