Law Schedule of Classes

NOTE: Course offerings change. Classes offered this semester may not be offered in future semesters.

Apart from their assigned mod courses, 1L students may only enroll in courses offered as 1L electives. A complete list of these courses can be found on the 1L Elective Listings page. 1L students must use the 1L class number listed on the course description when enrolling.


247.31 sec. 001 - FinTech Innovation and Financial Inclusion (Spring 2023)

Instructor: Tuong-Vi Tran Faber  (view instructor's teaching evaluations - degree students only)
View all teaching evaluations for this course - degree students only

Units: 1
Grading Designation: Credit Only
Mode of Instruction: In-Person

Meeting:

F 10:00 AM - 11:50 AM
Location: Law 115
From January 20, 2023
To March 03, 2023

Course Start: January 20, 2023
Course End: March 03, 2023
Class Number: 32688

Enrollment info:
Enrolled: 18
Waitlisted: 0
Enroll Limit: 22
As of: 08/24 11:03 PM


The course explores how FinTech is disrupting the traditional financial sector and providing new opportunities and challenges for financial inclusion. Today, close to one third of adults, or about 1.7 billion adults, remain excluded from traditional financial services worldwide (Global Findex, 2017). In the United States, approximately 20% of Americans are either unbanked or underbanked (Federal Reserve, 2021). At the same time, there is an urgent need for access to responsible financial services. In the United States, nearly 40% of households are liquid asset poor, meaning they do not have enough savings to cover basic expenses for three months if they experienced an income shock (Prosperity Now, 2019). FinTech uses technologies to reshape how financial products and services are structured, provisioned, and consumed, thereby providing the opportunity to address the limitations of the traditional financial sector. But is FinTech living up to its promise? The course explores the unique opportunities and challenges presented by FinTech. First, we will discuss some of the key areas of FinTech innovation and the U.S. legal and regulatory environment for FinTech. Second, we will examine the interplay between FinTech innovation, consumer protection and financial inclusion, and evaluate whether FinTech may be reducing or reinforcing inequalities. Finally, we will explore what may lie ahead for FinTech if we are to strike the right balance between supporting financial innovation on the one hand, and ensuring consumer protection, financial inclusion, and financial stability on the other hand. We will also have FinTech experts join as guest speakers throughout the course to come share their perspectives with us.


Tuong-Vi Faber has been advising financial institutions and fintech companies for over 10 years. She currently serves as Deputy General Counsel at Upgrade, a fintech unicorn that provides access to responsible credit and mobile banking, where she advises on legal, regulatory, and compliance matters, including product development, bank relationships, government affairs, commercial agreements, compliance and risk management, and key business initiatives. Prior to Upgrade, she was the Head of Legal at Aura Financial Corporation, a US Treasury-certified Community Development Financial Institution (CDFI) providing financial services to unbanked and underbanked communities. Tuong-Vi began her career as a corporate attorney at Sullivan & Cromwell, where she advised financial institutions and public and private companies on equity and debt financings, mergers and acquisitions, SEC reporting, corporate governance, and other corporate and securities matters. Tuong-Vi has a B.S. from the London School of Economics, Master of Business Law (J.D.-equivalent) from Sciences-Po Paris and the Sorbonne Law School, and Master of Laws (LL.M.) from Harvard Law School where she was a Fulbright Scholar and a recipient of the Harvard French Scholarship Fund.

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Exam Notes: (P) Final paper  
Course Category: Business Law
This course is listed in the following sub-categories:
Social Justice and Public Interest

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Readers:
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Books:
Required Books are in blue

  • Fintech Law in a Nutshell
    Chris Brummer
    Edition: 2020
    Publisher: West Academic Publishing
    ISBN: 9781640208353
    e-Book Available: Yes
    e-Book procurement note: https://www.westacademic.com/Brummers-Fintech-Law-in-a-Nutshell-9781640208353
    Price: $56.00
    Price Source: user provided

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