Chairman, Secura/Isaac Group
William “Bill” Isaac served as Chairman of the FDIC during one of the most important and tumultuous periods in US banking history. Some 3,000 banks and thrifts failed during the 1980s, including Continental Illinois and nine of the ten largest banks in Texas. In addition to the failures of many of the largest regional banks throughout the US, most of the money center banks in the US were on the watch list due in large part to the enormous amount of loans on their books to less developed countries.
President Carter appointed Bill Isaac to the board of the FDIC in 1978. He was confirmed by the Senate at the age of 34. President Reagan named him Chairman of the FDIC two years later, making him the youngest FDIC board member and Chairman in history. Bill Isaac also served as Chairman of the Federal Financial Institutions Examination Council (1983-85), as a member of the Depository Institutions Deregulation Committee (1981–85), and on the Vice President’s Task Group on Regulation of Financial Services (1984).
Bill Isaac is currently Chairman and principal owner of three premier consulting firms, Secura/Isaac Consulting, Blue SaaS Solutions, and Secura/Isaac Talent Advisors. He is a member of the boards of directors of Emigrant Bank and New York Private Bank & Trust and serves as Chairman of Sarasota Private Trust and Cleveland Private Trust, all of which are owned by Howard Milstein and his family.
After completing his service as Chairman of the FDIC at the end of 1985, Bill Isaac founded The Secura Group, a leading consulting firm, which he sold in 2008. He served as Chairman of the Board of Fifth Third Bancorp, one of the nation’s leading banks, and worked as Senior Managing Director at FTI Consulting from 2011 to 2019. He then joined Howard Milstein in the financial services business. Bill Isaac is a former board member at TSYS, a leading payment processing company that today is part of Global Payments. He has served on the boards of Amex Bank, The Associates (a finance company formerly owned by Ford Motor Company), credit reporting company TransUnion, and staffing firm MPS Group.
Bill Isaac is involved extensively in thought leadership relating to the financial industry. He is the author of ‘Senseless Panic: How Washington Failed America’ with a foreword by legendary former Federal Reserve Chairman Paul Volcker. ‘Senseless Panic’ provides an inside account of the banking and savings and loans crises of the 1980s and compares that period to the financial crisis of 2008/2009. Bill Isaac’s articles appear in the Wall Street Journal, the Washington Post, the New York Times, The Hill, American Banker, Forbes, the Financial Times, the Washington Times, and other leading publications. He appears regularly on television and radio, testifies before Congress, and is a speaker before audiences throughout the world (www.WilliamIsaac.com).
Bill Isaac was formerly a senior partner at Arnold & Porter, which was a founding partner of The Secura Group. He left the law firm in 1993 when Secura purchased Arnold & Porter’s interest in Secura. Before his appointment to the FDIC, Bill Isaac served as vice president, general counsel and secretary of First Kentucky National Corporation and its subsidiaries, including First National Bank of Louisville and First Kentucky Trust Company. He began his career with Foley & Lardner in Milwaukee where he practiced general corporate law specializing in banking law.
Bill Isaac received a Distinguished Achievement Medal in 1995 from Miami University and a Distinguished Alumnus Award in 2013 from The Ohio State University. He is a Life member of both the Board of Directors of the Miami University Foundation and the Board of Directors of The Ohio State University Foundation. Bill co- founded in 2016, with his former classmate, the William Isaac & Michael Oxley Center for Business Leadership at Miami University.
Partner, Simpson Thacher
Mr. Noreika leads projects related to the U.S. banking industry, as well as clients that span beyond traditional banking including financial technology and cryptocurrency companies. He is the company’s focal point for C-suite advice on compliance and regulatory requirements at all levels, domestic and international.
Prior to joining Patomak, Mr. Noreika was a partner at Simpson Thacher & Bartlett LLP and was a lead lawyer in the firm’s financial institutions regulatory practice, focusing on banking regulation and related litigation. In that role, he advised domestic and international financial institutions on regulatory issues relating to mergers and acquisitions, minority investments, capital issuances, structuring and compliance activities, and litigation matters.
Mr. Noreika’s extensive experience includes advising regional and multinational banks on the structuring of their U.S. operations, compliance with the Volcker Rule, Consumer Financial Protection Bureau and other federal agency regulations, Bank Secrecy Act and anti-money laundering rules, as well as transactional matters and related regulatory applications. He has counseled numerous private equity funds with respect to investments in banking organizations.
In 2017, Mr. Noreika served as acting Comptroller of the Currency where he led the 4,000-person independent agency responsible for chartering, regulating, and supervising all national banks and federal savings associations as well as federal branches and agencies of foreign banks in the U.S. There, he worked to make regulation more accountable, improved the efficiency of chartering and licensing decisions, and sought the enhance the value of the national bank and federal thrift charters and their ability to meet the credit and banking needs of their communities. In this role, he also served as director of the Federal Deposit Insurance Corporation and member of the Financial Stability Oversight Council.
Mr. Noreika has been recognized as a leader in his field by Chambers USA in “Financial Services Regulation: Banking Compliance” since 2014. He received his law degree from Harvard Law School, where he was editor of the Harvard Law Review. He earned his B.S. in economics with a concentration in finance from The Wharton School of the University of Pennsylvania.
Senior Fellow, Mises Institute
Alex J. Pollock is a Senior Fellow with the Mises Institute, providing thought and policy leadership on financial issues and the study of financial systems. His work includes cycles of booms and busts, financial crises with their political responses, housing finance, government-sponsored enterprises, risk and uncertainty, central banking, banking and financial regulation, corporate governance, retirement finance, student loans, and the politics of finance.
He previously served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department 2019-2021. He was a Distinguished Senior Fellow with the R Street Institute 2015-2019 and 2021, and a resident fellow at the American Enterprise Institute, 2004-2015. Among the many aspects of his AEI work, he developed the One Page Mortgage Form to give borrowers in clear form the key information they need in order to know what they are committing themselves to. He was President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004. There he invented the Mortgage Partnership Finance program, which successfully created front-end mortgage credit risk sharing beginning in 1997. His decades of banking experience include being a Visiting Scholar at the Federal Reserve Bank of St. Louis, 1991.
Pollock was a director of the CME Group 2004-2019 and of Ascendium Education Group 1989-2019. He is a director and past-chairman of the Great Books Foundation and a past president of the International Union for Housing Finance.
He is the co-author of Surprised Again! - The COVID Crisis and the New Market Bubble (2022), and the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony.
Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.
His work is available on alexjpollock.com.
Robert Kavesh Professorship in Economics, Leonard N. Stern School of Business, New York University
Lawrence J. White has been with New York University Leonard N. Stern School of Business for more than 35 years. His primary research areas of interest include financial regulation, antitrust, network industries, international banking and applied microeconomics.
Professor White has published numerous articles in the Journal of Business, Journal of Economic Perspectives, Journal of Economic Literature, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, Quarterly Journal of Economics, and other leading journals in economics, finance, and law. He is the author of The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation, among other books, and he is the co-editor (with John Kwoka) of the 6th of edition of The Antitrust Revolution. He contributed chapters to both of the NYU Stern books on the financial crisis - Restoring Financial Stability and Regulating Wall Street. He is the co-author (with Stern's Viral Acharya, Matthew Richardson, and Stijn Van Nieuwerburgh) of Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance.
Chairman, Secura/Isaac Group
William “Bill” Isaac served as Chairman of the FDIC during one of the most important and tumultuous periods in US banking history. Some 3,000 banks and thrifts failed during the 1980s, including Continental Illinois and nine of the ten largest banks in Texas. In addition to the failures of many of the largest regional banks throughout the US, most of the money center banks in the US were on the watch list due in large part to the enormous amount of loans on their books to less developed countries.
President Carter appointed Bill Isaac to the board of the FDIC in 1978. He was confirmed by the Senate at the age of 34. President Reagan named him Chairman of the FDIC two years later, making him the youngest FDIC board member and Chairman in history. Bill Isaac also served as Chairman of the Federal Financial Institutions Examination Council (1983-85), as a member of the Depository Institutions Deregulation Committee (1981–85), and on the Vice President’s Task Group on Regulation of Financial Services (1984).
Bill Isaac is currently Chairman and principal owner of three premier consulting firms, Secura/Isaac Consulting, Blue SaaS Solutions, and Secura/Isaac Talent Advisors. He is a member of the boards of directors of Emigrant Bank and New York Private Bank & Trust and serves as Chairman of Sarasota Private Trust and Cleveland Private Trust, all of which are owned by Howard Milstein and his family.
After completing his service as Chairman of the FDIC at the end of 1985, Bill Isaac founded The Secura Group, a leading consulting firm, which he sold in 2008. He served as Chairman of the Board of Fifth Third Bancorp, one of the nation’s leading banks, and worked as Senior Managing Director at FTI Consulting from 2011 to 2019. He then joined Howard Milstein in the financial services business. Bill Isaac is a former board member at TSYS, a leading payment processing company that today is part of Global Payments. He has served on the boards of Amex Bank, The Associates (a finance company formerly owned by Ford Motor Company), credit reporting company TransUnion, and staffing firm MPS Group.
Bill Isaac is involved extensively in thought leadership relating to the financial industry. He is the author of ‘Senseless Panic: How Washington Failed America’ with a foreword by legendary former Federal Reserve Chairman Paul Volcker. ‘Senseless Panic’ provides an inside account of the banking and savings and loans crises of the 1980s and compares that period to the financial crisis of 2008/2009. Bill Isaac’s articles appear in the Wall Street Journal, the Washington Post, the New York Times, The Hill, American Banker, Forbes, the Financial Times, the Washington Times, and other leading publications. He appears regularly on television and radio, testifies before Congress, and is a speaker before audiences throughout the world (www.WilliamIsaac.com).
Bill Isaac was formerly a senior partner at Arnold & Porter, which was a founding partner of The Secura Group. He left the law firm in 1993 when Secura purchased Arnold & Porter’s interest in Secura. Before his appointment to the FDIC, Bill Isaac served as vice president, general counsel and secretary of First Kentucky National Corporation and its subsidiaries, including First National Bank of Louisville and First Kentucky Trust Company. He began his career with Foley & Lardner in Milwaukee where he practiced general corporate law specializing in banking law.
Bill Isaac received a Distinguished Achievement Medal in 1995 from Miami University and a Distinguished Alumnus Award in 2013 from The Ohio State University. He is a Life member of both the Board of Directors of the Miami University Foundation and the Board of Directors of The Ohio State University Foundation. Bill co- founded in 2016, with his former classmate, the William Isaac & Michael Oxley Center for Business Leadership at Miami University.
Partner, Simpson Thacher
Mr. Noreika leads projects related to the U.S. banking industry, as well as clients that span beyond traditional banking including financial technology and cryptocurrency companies. He is the company’s focal point for C-suite advice on compliance and regulatory requirements at all levels, domestic and international.
Prior to joining Patomak, Mr. Noreika was a partner at Simpson Thacher & Bartlett LLP and was a lead lawyer in the firm’s financial institutions regulatory practice, focusing on banking regulation and related litigation. In that role, he advised domestic and international financial institutions on regulatory issues relating to mergers and acquisitions, minority investments, capital issuances, structuring and compliance activities, and litigation matters.
Mr. Noreika’s extensive experience includes advising regional and multinational banks on the structuring of their U.S. operations, compliance with the Volcker Rule, Consumer Financial Protection Bureau and other federal agency regulations, Bank Secrecy Act and anti-money laundering rules, as well as transactional matters and related regulatory applications. He has counseled numerous private equity funds with respect to investments in banking organizations.
In 2017, Mr. Noreika served as acting Comptroller of the Currency where he led the 4,000-person independent agency responsible for chartering, regulating, and supervising all national banks and federal savings associations as well as federal branches and agencies of foreign banks in the U.S. There, he worked to make regulation more accountable, improved the efficiency of chartering and licensing decisions, and sought the enhance the value of the national bank and federal thrift charters and their ability to meet the credit and banking needs of their communities. In this role, he also served as director of the Federal Deposit Insurance Corporation and member of the Financial Stability Oversight Council.
Mr. Noreika has been recognized as a leader in his field by Chambers USA in “Financial Services Regulation: Banking Compliance” since 2014. He received his law degree from Harvard Law School, where he was editor of the Harvard Law Review. He earned his B.S. in economics with a concentration in finance from The Wharton School of the University of Pennsylvania.
Senior Fellow, Mises Institute
Alex J. Pollock is a Senior Fellow with the Mises Institute, providing thought and policy leadership on financial issues and the study of financial systems. His work includes cycles of booms and busts, financial crises with their political responses, housing finance, government-sponsored enterprises, risk and uncertainty, central banking, banking and financial regulation, corporate governance, retirement finance, student loans, and the politics of finance.
He previously served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department 2019-2021. He was a Distinguished Senior Fellow with the R Street Institute 2015-2019 and 2021, and a resident fellow at the American Enterprise Institute, 2004-2015. Among the many aspects of his AEI work, he developed the One Page Mortgage Form to give borrowers in clear form the key information they need in order to know what they are committing themselves to. He was President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004. There he invented the Mortgage Partnership Finance program, which successfully created front-end mortgage credit risk sharing beginning in 1997. His decades of banking experience include being a Visiting Scholar at the Federal Reserve Bank of St. Louis, 1991.
Pollock was a director of the CME Group 2004-2019 and of Ascendium Education Group 1989-2019. He is a director and past-chairman of the Great Books Foundation and a past president of the International Union for Housing Finance.
He is the co-author of Surprised Again! - The COVID Crisis and the New Market Bubble (2022), and the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony.
Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.
His work is available on alexjpollock.com.
Robert Kavesh Professorship in Economics, Leonard N. Stern School of Business, New York University
Lawrence J. White has been with New York University Leonard N. Stern School of Business for more than 35 years. His primary research areas of interest include financial regulation, antitrust, network industries, international banking and applied microeconomics.
Professor White has published numerous articles in the Journal of Business, Journal of Economic Perspectives, Journal of Economic Literature, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, Quarterly Journal of Economics, and other leading journals in economics, finance, and law. He is the author of The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation, among other books, and he is the co-editor (with John Kwoka) of the 6th of edition of The Antitrust Revolution. He contributed chapters to both of the NYU Stern books on the financial crisis - Restoring Financial Stability and Regulating Wall Street. He is the co-author (with Stern's Viral Acharya, Matthew Richardson, and Stijn Van Nieuwerburgh) of Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance.
Chairman, Secura/Isaac Group
William “Bill” Isaac served as Chairman of the FDIC during one of the most important and tumultuous periods in US banking history. Some 3,000 banks and thrifts failed during the 1980s, including Continental Illinois and nine of the ten largest banks in Texas. In addition to the failures of many of the largest regional banks throughout the US, most of the money center banks in the US were on the watch list due in large part to the enormous amount of loans on their books to less developed countries.
President Carter appointed Bill Isaac to the board of the FDIC in 1978. He was confirmed by the Senate at the age of 34. President Reagan named him Chairman of the FDIC two years later, making him the youngest FDIC board member and Chairman in history. Bill Isaac also served as Chairman of the Federal Financial Institutions Examination Council (1983-85), as a member of the Depository Institutions Deregulation Committee (1981–85), and on the Vice President’s Task Group on Regulation of Financial Services (1984).
Bill Isaac is currently Chairman and principal owner of three premier consulting firms, Secura/Isaac Consulting, Blue SaaS Solutions, and Secura/Isaac Talent Advisors. He is a member of the boards of directors of Emigrant Bank and New York Private Bank & Trust and serves as Chairman of Sarasota Private Trust and Cleveland Private Trust, all of which are owned by Howard Milstein and his family.
After completing his service as Chairman of the FDIC at the end of 1985, Bill Isaac founded The Secura Group, a leading consulting firm, which he sold in 2008. He served as Chairman of the Board of Fifth Third Bancorp, one of the nation’s leading banks, and worked as Senior Managing Director at FTI Consulting from 2011 to 2019. He then joined Howard Milstein in the financial services business. Bill Isaac is a former board member at TSYS, a leading payment processing company that today is part of Global Payments. He has served on the boards of Amex Bank, The Associates (a finance company formerly owned by Ford Motor Company), credit reporting company TransUnion, and staffing firm MPS Group.
Bill Isaac is involved extensively in thought leadership relating to the financial industry. He is the author of ‘Senseless Panic: How Washington Failed America’ with a foreword by legendary former Federal Reserve Chairman Paul Volcker. ‘Senseless Panic’ provides an inside account of the banking and savings and loans crises of the 1980s and compares that period to the financial crisis of 2008/2009. Bill Isaac’s articles appear in the Wall Street Journal, the Washington Post, the New York Times, The Hill, American Banker, Forbes, the Financial Times, the Washington Times, and other leading publications. He appears regularly on television and radio, testifies before Congress, and is a speaker before audiences throughout the world (www.WilliamIsaac.com).
Bill Isaac was formerly a senior partner at Arnold & Porter, which was a founding partner of The Secura Group. He left the law firm in 1993 when Secura purchased Arnold & Porter’s interest in Secura. Before his appointment to the FDIC, Bill Isaac served as vice president, general counsel and secretary of First Kentucky National Corporation and its subsidiaries, including First National Bank of Louisville and First Kentucky Trust Company. He began his career with Foley & Lardner in Milwaukee where he practiced general corporate law specializing in banking law.
Bill Isaac received a Distinguished Achievement Medal in 1995 from Miami University and a Distinguished Alumnus Award in 2013 from The Ohio State University. He is a Life member of both the Board of Directors of the Miami University Foundation and the Board of Directors of The Ohio State University Foundation. Bill co- founded in 2016, with his former classmate, the William Isaac & Michael Oxley Center for Business Leadership at Miami University.
Partner, Simpson Thacher
Mr. Noreika leads projects related to the U.S. banking industry, as well as clients that span beyond traditional banking including financial technology and cryptocurrency companies. He is the company’s focal point for C-suite advice on compliance and regulatory requirements at all levels, domestic and international.
Prior to joining Patomak, Mr. Noreika was a partner at Simpson Thacher & Bartlett LLP and was a lead lawyer in the firm’s financial institutions regulatory practice, focusing on banking regulation and related litigation. In that role, he advised domestic and international financial institutions on regulatory issues relating to mergers and acquisitions, minority investments, capital issuances, structuring and compliance activities, and litigation matters.
Mr. Noreika’s extensive experience includes advising regional and multinational banks on the structuring of their U.S. operations, compliance with the Volcker Rule, Consumer Financial Protection Bureau and other federal agency regulations, Bank Secrecy Act and anti-money laundering rules, as well as transactional matters and related regulatory applications. He has counseled numerous private equity funds with respect to investments in banking organizations.
In 2017, Mr. Noreika served as acting Comptroller of the Currency where he led the 4,000-person independent agency responsible for chartering, regulating, and supervising all national banks and federal savings associations as well as federal branches and agencies of foreign banks in the U.S. There, he worked to make regulation more accountable, improved the efficiency of chartering and licensing decisions, and sought the enhance the value of the national bank and federal thrift charters and their ability to meet the credit and banking needs of their communities. In this role, he also served as director of the Federal Deposit Insurance Corporation and member of the Financial Stability Oversight Council.
Mr. Noreika has been recognized as a leader in his field by Chambers USA in “Financial Services Regulation: Banking Compliance” since 2014. He received his law degree from Harvard Law School, where he was editor of the Harvard Law Review. He earned his B.S. in economics with a concentration in finance from The Wharton School of the University of Pennsylvania.
Senior Fellow, Mises Institute
Alex J. Pollock is a Senior Fellow with the Mises Institute, providing thought and policy leadership on financial issues and the study of financial systems. His work includes cycles of booms and busts, financial crises with their political responses, housing finance, government-sponsored enterprises, risk and uncertainty, central banking, banking and financial regulation, corporate governance, retirement finance, student loans, and the politics of finance.
He previously served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department 2019-2021. He was a Distinguished Senior Fellow with the R Street Institute 2015-2019 and 2021, and a resident fellow at the American Enterprise Institute, 2004-2015. Among the many aspects of his AEI work, he developed the One Page Mortgage Form to give borrowers in clear form the key information they need in order to know what they are committing themselves to. He was President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004. There he invented the Mortgage Partnership Finance program, which successfully created front-end mortgage credit risk sharing beginning in 1997. His decades of banking experience include being a Visiting Scholar at the Federal Reserve Bank of St. Louis, 1991.
Pollock was a director of the CME Group 2004-2019 and of Ascendium Education Group 1989-2019. He is a director and past-chairman of the Great Books Foundation and a past president of the International Union for Housing Finance.
He is the co-author of Surprised Again! - The COVID Crisis and the New Market Bubble (2022), and the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony.
Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.
His work is available on alexjpollock.com.
Robert Kavesh Professorship in Economics, Leonard N. Stern School of Business, New York University
Lawrence J. White has been with New York University Leonard N. Stern School of Business for more than 35 years. His primary research areas of interest include financial regulation, antitrust, network industries, international banking and applied microeconomics.
Professor White has published numerous articles in the Journal of Business, Journal of Economic Perspectives, Journal of Economic Literature, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, Quarterly Journal of Economics, and other leading journals in economics, finance, and law. He is the author of The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation, among other books, and he is the co-editor (with John Kwoka) of the 6th of edition of The Antitrust Revolution. He contributed chapters to both of the NYU Stern books on the financial crisis - Restoring Financial Stability and Regulating Wall Street. He is the co-author (with Stern's Viral Acharya, Matthew Richardson, and Stijn Van Nieuwerburgh) of Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance.
How Risky Are the Banks Now? What Regulatory Reforms Make Sense?
William M. Isaac, Keith Noreika, Alex J. Pollock, Lawrence J. White
A Regulatory Transparency Project Webinar
Six months ago, we experienced bank runs and three of the four largest bank failures...
How Risky Are the Banks Now? What Regulatory Reforms Make Sense?
William M. Isaac, Keith Noreika, Alex J. Pollock, Lawrence J. White
A Regulatory Transparency Project Webinar
Six months ago, we experienced bank runs and three of the four largest bank failures...
The 2023 Bank Runs and Failures: What Do They Mean Going Forward?
William M. Isaac, Keith Noreika, Alex J. Pollock, Lawrence J. White
A Regulatory Transparency Project Webinar
This year's sudden collapse of First Republic, Silicon Valley, and Signature banks were the second,...