Patricia A. McCoy
Connecticut Mutual Professor of Law
- Patricia A. McCoy
- Connecticut Mutual Professor of Law
- Hosmer Hall 124
- Contact Patricia A. McCoy
Professor McCoy received her B.A. from Oberlin College and her J.D. from the University of California at Berkeley, where she was Editor-in-Chief of the Industrial Relations Law Journal (now the Berkeley Journal of Employment and Labor Law). After graduation, she clerked for the late Judge Robert S. Vance of the United States Court of Appeals for the Eleventh Circuit. Her practice years were spent at Mayer Brown in Washington, D.C., where she was a partner specializing in complex securities, banking and constitutional litigation. She began her teaching career at Cleveland State University before coming to Connecticut in 2002.
Professor McCoy's research and teaching interests focus on the nexus between financial products, consumer welfare, and systemic risk, analyzed through the lens of law, economics, and empirical methods. In A Tale of Three Markets: The Law and Economics of Predatory Lending, 80 Tex. L. Rev. 1255 (2002), Professor McCoy and her longtime coauthor, Kathleen Engel, were among of the first to raise alarms about the dangers of subprime loans. In addition to numerous book chapters and articles, Professor McCoy has three books to her credit: The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps (Oxford Univ. Press 2011), with Kathleen C. Engel; Banking Law Manual: Federal Regulation of Financial Holding Companies, Banks and Thrifts (2d ed. 2000 & cum. supp.) and Financial Modernization After Gramm-Leach-Bliley (2002). She sits on the Editorial Advisory Board for the Cambridge Series on Law, Finance, and Economics of Oxford University Press.
In 2002-2003, Professor McCoy was a Visiting Scholar at the MIT Economics Department. She served on the Consumer Advisory Council of the Federal Reserve Board from 2002 to 2004, where she chaired the Council's Consumer Credit Committee. From 2003-2008, she also sat on the board of directors of the Insurance Marketplace Standards Association, the leading market conduct and compliance organization for life insurers. In 2001, Professor McCoy served as chair of the Section on Financial Institutions and Consumer Financial Services of the Association of American Law Schools. More recently, the University of International Business and Economics in Beijing and the University of Pretoria appointed her as honorary guest professor. In 2012, the American Law Institute named her as an Adviser to the Restatement of the Law Third, Consumer Contracts.
The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps (Oxford University Press, 2011) (with Kathleen C. Engel).
Financial Modernization After Gramm-Leach-Bliley (Patricia A. McCoy ed., Lexis 2002).
Banking Law Manual: Federal Regulation of Financial Holding Companies, Banks and Thrifts (Lexis 2d ed. 2000 & cumulative supplements) [3d edition in progress].
The Home Mortgage Foreclosure Crisis: Lessons Learned (forthcoming in symposium volume edited by the Harvard University Joint Center for Housing Studies, 2013).
Federal Preemption, Regulatory Failure and the Race to the Bottom in US Mortgage Lending Standards, in The Panic of 2008 (Lawrence Mitchell & Arthur E. Wilmarth, Jr., eds., Edward Elgar Press, 2010).
The Impact of Predatory Lending Laws: Policy Implications and Insights (with Raphael Bostic, Kathleen C. Engel, Anthony Pennington-Cross & Susan Wachter) in Borrowing to Live: Consumer and Mortgage Credit Revisited 138 (Nicolas P. Retsinas & Eric S. Belsky eds., Joint Center for Housing Studies of Harvard University & Brookings Institution Press, 2008).
The Legal Infrastructure of Subprime and Nontraditional Mortgage Lending (with Elizabeth Renuart), in Borrowing to Live: Consumer and Mortgage Credit Revisited 110 (Nicolas P. Retsinas & Eric S. Belsky eds., Joint Center for Housing Studies of Harvard University and Brookings Institution Press, 2008).
The Moral Hazard Implications of Deposit Insurance: Theory and Practice, in 5 Current Developments in Financial and Monetary Law 417 (International Monetary Fund, 2008).
From Credit Denial To Predatory Lending: The Challenge Of Sustaining Minority Homeownership, in Segregation: The Rising Costs for America (James H. Carr & Nandinee Kutty, eds., Routledge, 2008) (with Kathleen C. Engel).
Articles and Monographs
Barriers to Foreclosure Prevention During the Financial Crisis, 55 Ariz. L. Rev. Issue 3 (forthcoming 2013).
Public Engagement in Rulemaking: The Consumer Financial Protection Bureau’s New Approach, 7 Brooklyn J. Corp., Finan. & Commercial L. 1 (2013).
Mortgage Product Substitution and State Anti-Predatory Lending Laws: Better Loans and Better Borrowers? (with Raphael Bostic, Souphala Chomsisengphet, Kathleen C. Engel, Anthony Pennington-Cross & Susan Wachter), 40 Atlantic Econ. J. 273 (2012).
The Consumer Financial Protection Bureau: Financial Regulation for the 21st Century, 98 Cornell L. Rev. 1141 (2012) (with Leonard Kennedy & Ethan Bernstein).
Securitization and Systemic Risk Amid Deregulation and Regulatory Failure, 41 Conn. L. Rev. 493 (2009) (with Andrey D. Pavlov & Susan Wachter).
State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms, 60 J. Econ. & Bus. 47-66 (2008) (with Raphael Bostic, Kathleen C. Engel, Anthony Pennington-Cross & Susan Wachter).
Rethinking Disclosure in a World of Risk-Based Pricing, 44 Harv. J. Legis. 123 (2007).
Turning a Blind Eye: Wall Street Finance Of Predatory Lending, 75 Fordham L. Rev. 2039 (2007) (with Kathleen C. Engel).
A Behavioral Analysis of Predatory Lending, 38 Akron L. Rev. 725 (2005).
A Tale of Three Markets Revisited, 82 Tex. L. Rev. 439 (Dec. 2003) (with Kathleen C. Engel).
Realigning Auditors' Incentives, 35 Conn. L. Rev. 989 (2003).
A Tale of Three Markets: The Law and Economics of Predatory Lending, 80 Tex. L. Rev. 1255 (2002) (with Kathleen C. Engel).
Levers of Law Reform: Public Goods and Russian Banking, 30 Cornell Int'l L.J. 45 (1997).
A Political Economy of the Business Judgment Rule in Banking: Implications for Corporate Law, 47 Case W. Res. L. Rev. 1 (1996).
The Notional Business Judgment Rule In Banking, 44 Cath. U.L. Rev. 1031 (1995).