Explainer 59 - Why (and How) Does OMB Classify Americans’ Race? A Brief History
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The Regulatory Transparency Project is a nonprofit, nonpartisan effort dedicated to fostering discussion and a better understanding of regulatory policies.
It may surprise some to know that the government has definitive racial classifications for Americans,...
William M. Isaac, Keith Noreika, Alex J. Pollock, Lawrence J. White
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William M. Isaac, Keith Noreika, Alex J. Pollock, Lawrence J. White
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Six months ago, we experienced bank runs and three of the four largest bank failures...
Michael Cooley, Duane Hovorka, Annie Donaldson Talley, Paul J. Ray
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Professor of Law, South Texas College of Law Houston
Josh Blackman is a national thought leader on constitutional law and the United States Supreme Court. Josh’s work was quoted during two presidential impeachment trials. He has testified before Congress and advises federal and state lawmakers. Josh regularly appears on TV, including NBC, CBS, ABC, Fox, and the BBC. Josh is also a frequent guest on NPR and other syndicated radio programs. He has published commentaries in the New York Times, Wall Street Journal, Washington Post, and leading national publications.
Since 2012, Josh has served as a professor at the South Texas College of Law Houston. He holds the Centennial Chair of Constitutional Law. Josh is an Adjunct Fellow at the Manhattan Institute. Josh has written more than seven dozen law review articles that have been cited more than a thousand times. Josh was selected as the Jurist of the Year by the Texas Journal of Law & Public Policy, received the inaugural Meese III Originalism Award, and was awarded the Inaugural Joseph Story Award. Josh was selected by Forbes Magazine for the “30 Under 30” in Law and Policy. Josh is the President of the Harlan Institute, and founded FantasySCOTUS, the Internet’s Premier Supreme Court Fantasy League. He blogs at the Volokh Conspiracyand posts@JoshMBlackman.
Clinical Professor of Law, Cornell Law School
William A. Jacobson is a Clinical Professor of Law and Director of the Securities Law Clinic.
He is a 1981 graduate of Hamilton College and a 1984 graduate of Harvard Law School. At Harvard he was Senior Editor of the Harvard International Law Journal and Director of Litigation for the Harvard Prison Legal Assistance Project.
Prior to joining the Cornell law faculty in 2007, Professor Jacobson had a highly successful civil litigation and arbitration practice in Providence, Rhode Island, concentrating in investment, employment, and business disputes in the securities industry, including many high profile cases reported in leading newspapers and magazines.
Professor Jacobson has argued cases in numerous federal and state courts, including the Courts of Appeal for the First, Fifth and Sixth Circuits, and the Rhode Island Supreme Court.
Professor Jacobson has a national reputation as a leading practitioner in securities arbitration. He was Treasurer, and is a former member of the Executive Committee and Board of Directors of the Public Investors Arbitration Bar Association, a professional organization of attorneys dedicated to protecting public investors. He frequently is quoted in national media on issues related to investment fraud and investor protection, and in the past has served as one of a small number of private practice attorneys who trained new arbitrators for the Financial Industry Regulatory Authority.
Professor Jacobson is co-author of the Securities Arbitration Desk Reference (Thomson-Reuters), updated annually.
Professor Jacobson also is the founder and publisher of Legal Insurrection, a popular politics and law website. He is frequently quoted in the media on political and legal topics, has authored many Op-Eds in major publications, and appears on television and radio to discuss politics and the law.
Vice President and Deputy Counsel, Wisconsin Institute for Law and Liberty
Professor of Law and J. Philip Johnson Faculty Fellow, University of North Dakota School of Law
Michael S. McGinniss is Professor of Law and J. Philip Johnson Faculty Fellow at the University of North Dakota School of Law, where he joined the faculty in 2010 and served as the Dean from 2019 to 2022. He chairs the executive committee for the Federalist Society's Practice Group on Professional Responsibility and Legal Education.
Before entering the legal academy, Professor McGinniss served for twelve years as a Disciplinary Counsel for the Supreme Court of Delaware. He currently teaches courses on Professional Responsibility, Advanced Legal Ethics, Civil Procedure, and Federal Courts. He also serves as Faculty Advisor for the North Dakota Law Review and the UND Law Federalist Society student chapter.
Professor McGinniss’ research and scholarship interests are wide-ranging and include lawyer and judicial ethics, lawyer discipline and regulation of the profession, constitutional law (especially First Amendment, separation of powers, and federalism), and cultural challenges faced by conservatives in the law schools and the legal profession. His most recent law review article, Declaring Independence to Secure Integrity: The Supreme Court Justices' Code of Conduct, was published in the Federalist Society Review. His article Expressing Conscience with Candor: Saint Thomas More and First Freedoms in the Legal Profession, was published in the Harvard Journal of Law & Public Policy.
Professor McGinniss has spoken to Federalist Society lawyer and student chapters across the country about judicial independence and ethics, especially relating to the federal courts and the United States Supreme Court Justices. In addition, he has spoken to several chapters about rising challenges to ideological diversity and targeting of conservative viewpoints in law schools and the legal profession. Although he is very pleased to speak on these and many other topics that may be of interest to lawyer and student chapters, in 2026-2027, he has particular interest in speaking on the topic “Lawyer Discipline as Political ‘Resistance’: Separation of Powers, Federalism, and the Rule of Law,” concerning his work-in-progress on the weaponization of professional disciplinary processes against conservative lawyers for political and ideological purposes.
Commissioner, U.S. Equal Employment Opportunity Commission
Founder, Chairman, and CEO, Louis D. Brandeis Center for Human Rights Under Law
Hon. Kenneth L. Marcus is an internationally recognized expert in civil and human rights, as well as a leader in the fight against anti-Semitism on and off university campuses. He is the Founder, Chairman, and CEO of The Louis D. Brandeis Center for Human Rights Under Law, the leading civil rights legal organization fighting against anti-Semitism. The New York Times has called him “The Man Who Helped Redefine Campus Anti-Semitism.” He been described, in that paper, as “the single most effective and respected force” to combat anti-Semitism.
During his public service career, Marcus served as Assistant U.S. Secretary of Education for Civil Rights; Staff Director at the U.S. Commission on Civil Rights; and General Deputy Assistant U.S. Secretary of Housing and Urban Development for Fair Housing and Equal Opportunity.
In academia, he serves as Professorial Lecturer in Law at George Washington University. He formerly held the Lillie and Nathan Ackerman Chair in Equality and Justice in America at the City University of New York’s Bernard M. Baruch College, served as Visiting Research Professor of Political Science at Yeshiva University, and was a Board of Visitors member George Mason University and Distinguished Senior Fellow at that university’s law school. He is a member of the editorial board of the Journal of Contemporary Antisemitism and previously served as Associate Editor of the Journal for the Study of Anti-Semitism.
Marcus is also author of The Definition of Anti-Semitism (Oxford University Press) and Jewish Identity and Civil Rights in America (Cambridge University Press). He has published widely in academic journals as well as in more popular venues such as The Wall Street Journal, Washington Post, Newsweek, USA Today, and Politico. He is a graduate of Williams College and the University of California at Berkeley School of Law.
Earlier in his career, he was a litigation partner in two major law firms, where he conducted complex commercial and constitutional litigation. He also serves as Chairman emeritus of the Executive Committee of the Federalist Society for Law & Public Policy Civil Rights Practice Group.
Assistant Secretary for Fair Housing and Equal Opportunity, United States Department of Housing and Urban Development
Craig Trainor is Assistant Secretary for Fair Housing and Equal Opportunity at the United States Department of Housing and Urban Development. President Trump nominated Mr. Trainor for this position on February 11, 2025, and the United States Senate confirmed him on October 7, 2025.
A “Day One” Trump-Vance Administration official, he previously served as Acting Assistant Secretary for Civil Rights and Principal Deputy Assistant Secretary for Civil Rights at the United States Department of Education, where he spearheaded the Department’s efforts to reorient America’s civil rights regime from an unjust spoils system to one that protects the rights of all Americans. Mr. Trainor’s February 14, 2025, “Dear Colleague” letter is widely considered the Trump Administration’s blueprint for enforcing civil rights laws and restoring the Constitution’s promise of equal protection.
Prior to serving in the Trump-Vance Administration, he was Senior Special Counsel with the United States House of Representatives Committee on the Judiciary under Chairman Jim Jordan (R-OH), and Senior Litigation Counsel with the America First Policy Institute under the Honorable Pam Bondi.
For over ten years, Mr. Trainor was a criminal defense and civil rights lawyer in New York City, litigating cases in New York state court and the United States District Court for the Southern and Eastern Districts of New York.
Prior to founding his law practice, he served as a New York City prosecutor, an associate attorney at a white collar criminal defense firm, and a law clerk to Chief Judge Frederick J. Scullin, Jr., United States District Court for the Northern District of New York.
Assistant Secretary for Civil Rights, U.S. Department of Agriculture
Devon Westhill is the Assistant Secretary for Civil Rights at the U.S. Department of Agriculture. The U.S. Senate confirmed President Donald Trump’s nomination of Westhill on October 7, 2025.
Westhill returns to the USDA where he previously headed the civil rights office as Deputy Assistant Secretary in President Trump’s first term. His previous government appointments also include service at the U.S. Department of Labor, liaison to the Administrative Conference of the U.S., and liaison to the White House Initiative on Historically Black Colleges and Universities. Prior to returning to government service, Westhill was President and General Counsel of a nonprofit civil rights organization.
Westhill has testified on civil rights matters before Congress, federal agencies, and as an expert witness in federal court. He has spoken hundreds of times at college campuses, conferences, and on radio and TV programs, and he is frequently quoted in print publications, and his writing has appeared in numerous national outlets. A U.S. Navy veteran, Westhill earned his BA from the University of North Carolina at Chapel Hill and his JD from the University of Florida.
Dwight D. Opperman Professor of Law; Director, Center for Labor, New York University School of Law
Samuel Estreicher is a nationally preeminent scholar in US and international-comparative labor and employment law and arbitration law. He has authored more than a dozen books, including Beyond Elite Law: Access to Civil Justice in America (with Joy Radice, Cambridge Univ. 2016); leading casebooks on legislation and regulatory state, labor law and employment discrimination and employment law; and published more than 200 articles in professional and academic journals. He served as Chief Reporter for the American Law Institute’s Restatement of Employment Law (2015). After clerking for Judge Harold Leventhal of the US Court of Appeals for the DC Circuit, practicing in a labor law firm, and clerking for Justice Lewis F. Powell Jr. of the US Supreme Court, Prof. Estreicher joined the NYU School of Law faculty in 1978. In addition to serving as counsel to major law firms, he is the former secretary of the Labor and Employment Law Section of the American Bar Association, a former chair of the Committee on Labor and Employment Law of the Association of the Bar of the City of New York.15). He maintains an active appellate and ADR practice. The Labor and Employment Research Association awarded him its 2010 Susan C. Eaton Award for Outstanding Scholar-Practitioner. In recent years, Estreicher also has published work in public international law and authored several briefs in the Supreme Court and US courts of appeals on employment and US foreign relations law issues. Prof. Estreicher received his BA from Columbia College, his MS in industrial relations from Cornell University, and his JD from Columbia Law School, where he was editor-in-chief of the Columbia Law Review. He is a member of the College of Labor and Employment Lawyers and was appointed in 2016 by the UN Secretary General as a member of the UN’s Internal Justice Commission.
Shareholder, Ogletree Deakins
Brian Hayes is a Shareholder in the Washington, DC office of Ogletree Deakins and serves as Co-Chair of the law firm’s Traditional Labor Practice Group. Immediately prior to his joining the firm he was a Member of the National Labor Relations Board. He was confirmed to that post by the United States Senate in 2010 and his term ended in December of 2012. He is currently a Member of the U.S. Chamber of Commerce Litigation Advisory Committee and was recently named Chairman of the U.S. Chamber’s Subcommittee on the National Labor Relations Act. He also serves as editor in chief for The Practical NLRB Advisor.
Prior to his nomination and confirmation to the NLRB, Brian Hayes served as the Republican Labor Policy Director for the United States Senate Committee on Health, Education, Labor and Pensions. He came to Capitol Hill in 2005 after nearly thirty years in private legal practice devoted exclusively to representing management clients in labor and employment matters. While in private practice he represented clients in scores of cases before NLRB, state and federal courts, and a host of other federal agencies such as the EEOC, OFCCP, OSHA, the Department of Labor and their state counterparts. He also has had extensive private practice experience representing employers in collective-bargaining negotiations, arbitrations and other forms of dispute resolution. In addition to his private practice, he served as Counsel to the Employers’ Association of the Northeast, editor-in-chief and contributor to The Health Care Labor Manual, and also served on the adjunct faculty of Western New England Law School teaching courses in labor law, and collective-bargaining, arbitration and employment litigation. Before entering private practice he began his legal career at the NLRB working as a law clerk to the Chief Administrative Law Judge while in law school and subsequently as counsel to the then-Board Chairman. He is a graduate of Boston College and of Georgetown University Law School.
Principal, JacksonLewis
Marvin Kaplan is a principal in the New York City, New York, office of Jackson Lewis P.C.
Marvin, a former Chairman of the National Labor Relations Board (NLRB), advises clients on labor and employment issues, focusing on union organizing and labor-management relations. Over his eight years on the NLRB, Marvin participated in over 900 decisions, including decisions addressing the lawfulness of captive audience speeches and work rules, and the standards for determining the composition of a bargaining unit and whether an individual is an independent contractor, and several rulemakings, defining a joint-employer and laying out procedures governing representation elections.
Prior to his time on the NLRB, he served as Chief Counsel at the Occupational Safety and Health Review Commission and a Special Assistant at U.S. Department of Labor. His cross-disciplinary experience makes Marvin particularly well-suited to advise clients on strategic business planning.
His experience at all levels of government in different agencies and branches, including the U.S. House of Representatives, provides a unique perspective on Congressional oversight, legislation, regulations and federal investigations—enabling him to help clients navigate complex compliance challenges and anticipate regulatory developments that could impact their organizations.
He is a graduate of Cornell University and Washington University in St. Louis Law School.
Shareholder & Co-Chair of the Workplace Policy Institute, Littler Mendelson P.C.
Alexander T. MacDonald advises employers on all aspects of the employment and labor landscape, focusing on emerging legislation and regulation. He has extensive experience advising businesses on worker classification, arbitration, the administrative and regulatory process, and the future of work. He frequently writes, publishes, and speaks on these subjects. His work has been cited by scholars and appellate courts. He is a recognized voice for the management perspective.
Alexander is a co-chair of the Workplace Policy Institute (WPI) team. With WPI, he advises employers on legislative, administrative, and regulatory developments at the state and federal level. He advocates for employers in the regulatory and administrative process. He also helps employers protect their businesses by understanding and anticipating cutting-edge legal developments.
Alexander also has extensive experience in traditional labor law. He represents management in all aspects of labor-management relations, including unfair labor practice charges, grievance arbitrations, representation elections, contract negotiations, and related litigation, including litigation in the U.S. courts of appeals.
Before joining Littler, Alexander served as the director, future of work, for a major technology company. He also worked in a national labor and employment law firm and a major public-sector general counsel’s office. He was a law clerk to the senior judges in the District of Columbia Court of Appeals.
He is also a veteran of the U.S. Air Force. He served in Operations Enduring Freedom and Iraqi Freedom. In law school, he graduated first in his class
University Professor of Law and Executive Director, Liberty & Law Center, Antonin Scalia Law School, George Mason University
David Bernstein holds a University Professorship chair at the Antonin Scalia Law School, where he has been teaching since 1995. He has also been a visiting professor at the University of Michigan, Georgetown University, William & Mary, Brooklyn Law School, the University of Turin, and Hebrew University. Professor Bernstein teaches Constitutional Law, Evidence, and Products Liability.
A prolific author, Professor Bernstein often challenges the conventional wisdom with prodigious research and sharp, original analysis. He is the author of five books, and coauthor of two more. Professor Bernstein’s book Rehabilitating Lochner was praised across the political spectrum as “intellectual history in its highest form,” a “fresh perspective and a cogent analysis,” “delightful and informative,” “sharp and iconoclastic,” and “a terrific work of historical revisionism.” Columnist George Will praised Bernstein’s most recent book, Classified, The Untold Story of Racial Classification in America, as “perhaps the most consequential American book of 2022.”
Professor Bernstein has also written dozens of articles and essays published in major law reviews, including the California Law Review, Columbia Law Review, Michigan Law Review, and Yale Law Journal. An article he coauthored, Defending Daubert: It’s Time to Amend Federal Rule of Evidence 702, directly inspired a pending amendment to Rule 702.
Professor Bernstein blogs at the Instapundit.com, the Times of Israel, and the Volokh Conspiracy. He is a graduate of the Yale Law School, where he was senior editor of the Yale Law Journal and a John M. Olin Fellow in Law, Economics, and Public Policy.
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.
Managing Partner, Allen Wellman McNew Harvey, LLP
Michael has been an attorney with Allen Wellman McNew Harvey, LLP in Greenfield, Indiana, since 2006 and currently serves as the firm’s managing partner. He concentrates his practice in the areas of business and commercial law, and complex litigation in state and federal court. Michael regularly advises clients in the areas of business planning, contracts, employment law, prelitigation planning, dispute resolution and workouts. He also advises farmers in business and succession planning, and government regulation including disputes arising under the Food and Security Act of 1985. While Michael’s practice is focused in central Indiana, he regularly represents clients throughout the state and regionally.
Michael has significant appellate practice experience, and regularly represents clients in appellate matters in both administrative and judicial reviews over a wide range of legal areas. He has briefed and argued cases as lead and sole counsel before the Indiana Court of Appeals and the United States Court of Appeals for the Seventh Circuit and served as lead counsel on Petitions to Transfer to the Indiana Supreme Court. Michael successfully obtained reversal of a United States Department of Agriculture wetland determination before the Seventh Circuit in Boucher v. USDA, 934 F.3d 530 (7th Cir. 2019), an important decision addressing the requirements of a wetland under the Swampbuster provisions of the Food and Security Act.
Michael also oversees the firm’s bankruptcy and insolvency work, representing debtors and creditors in cases and litigation arising under Chapter 7, Chapter 12, Chapter 13, and Chapter 11 of the United States Bankruptcy Code. Michael also represents debtors, financial institutions, and receivers in foreclosure and receivership cases arising under state law.
Michael grew up in Rush County, Indiana, and obtained his undergraduate degree from Franklin College in Franklin, Indiana, and his law degree from the Indiana University Robert H. McKinney School of Law. He resides in the Meridian Kessler neighborhood of Indianapolis with his wife Michele, and their sons, Evan and Ryan.
Senior Agriculture Policy Specialist, National Wildlife Federation
Duane Hovorka is a Senior Agriculture Policy Specialist at the National Wildlife Federation. Prior to this role, he directed the Izaak Walton League’s Agriculture Program, where he provided analysis and outreach on federal Farm Bill programs to deliver healthy soil, clean water and wildlife habitat benefits, and oversight of agricultural policy issues in key states.
Partner, Luther Strange & Associates
Annie Donaldson Talley is Partner at Luther Strange and Associates. She recently departed the White House after serving as Deputy Assistant to the President and Deputy Counsel to the President. Over the past four years, she provided outside counsel to the Donald J. Trump for President campaign; helped stand up and manage the White House Counsel’s Office; interfaced with agencies across the federal government; and advised the President of the United States, White House Counsel, Chief of Staff and other senior staff across the Executive Office of the President on a broad range of issues from regulatory reform to executive nominations to the day-to-day issues facing the Administration.
Prior to her White House service, Annie Donaldson Talley counseled clients in the non-profit, for-profit, political, and government sectors, as well as high-profile individuals in private practice at Jones Day and Patton Boggs. She provided strategic counseling to clients structuring their affairs to ensure compliance with a web of state and federal laws and represented clients in complex, multi-faceted investigations, leading teams navigating issues of intense public scrutiny.
Annie Donaldson Talley is also a veteran of three presidential campaigns and served in state government. She holds a B.A., summa cum laude, from the University of Alabama and a J.D. from Harvard Law School, where she served on the Harvard Law Review. She lives in Montgomery, Alabama with her husband, Brett.
Of Counsel, Covington & Burling LLP
The Honorable Paul J. Ray is currently Of Counsel at Covington & Burling LLP where he advises clients on regulatory opportunities and challenges and helps them formulate and execute advocacy strategies for their regulatory policy priorities before the executive branch and Congress.
During the first Trump Administration, Paul held various senior positions at the Office of Information and Regulatory Affairs (OIRA) within the White House’s Office of Management and Budget, including as acting, and then Senate-confirmed, head of the office. As OIRA Administrator (the "regulations czar"), Paul supervised the review of hundreds of regulations from across the government, drafted numerous executive orders governing the regulatory process, and led the Administration’s regulatory reform effort. As a result of this experience, Paul is well-positioned to help clients understand and achieve regulatory policy priorities in the context of the government’s regulatory agenda and ongoing reform efforts.
Most recently, Paul was also the Director of the Roe Institute for Economic Policy Studies at The Heritage Foundation. In that role, he supervised the formulation of the Foundation’s economic and regulatory policy recommendations and provided technical assistance to congressional committees and staff regarding legislative changes to the regulatory process. In addition to his role at The Heritage Foundation, Paul also served as a Senior Advisor at a strategic advisory firm. Before his time in government, Paul practiced law at a law firm in Washington, specializing in administrative law matters.
Prior to his role at the White House, Paul was Counselor to the Secretary at the U.S. Department of Labor. There he led departmental efforts in high-profile rulemakings and helped formulate the Department’s legal positions and strategy.
Paul served as a law clerk to Supreme Court Justice Samuel Alito and as a law clerk to the Honorable Debra Livingston of the U.S. Court of Appeals for the Second Circuit.
Paul is a thought leader in the conservative legal movement and is a frequent commentator and speaker on regulatory policy and reform matters, including at law schools, professional gatherings, and other venues. He is the Chairman of Innovations in Peacebuilding International and the Regulatory Process Working Group of the Federalist Society’s Regulatory Transparency Project and a public member of the Administrative Conference of the United States. Paul is also an adjunct lecturer at the Hillsdale College School of Government.
Associate, Covington & Burling LLP
Eli Nachmany is an associate at Covington & Burling LLP in the Washington, DC, office. He clerked for Judge Steven J. Menashi of the U.S. Court of Appeals for the Second Circuit. Eli graduated magna cum laude from Harvard Law School, where he was Editor-in-Chief of the Harvard Journal of Law & Public Policy. Prior to law school, Eli served as the speechwriter to the U.S. Secretary of the Interior and as a domestic policy aide in the White House Office of American Innovation. He graduated summa cum laude from New York University with a B.S. in Sports Management. Eli’s scholarship on administrative law and executive power has appeared in the BYU Law Review, George Mason Law Review, Wake Forest Law Review, and Yale Law Journal Forum.
Counsel, Cause of Action Institute
Ryan P. Mulvey has worked as policy counsel at Americans for Prosperity Foundation since December 2019. He previously worked as Counsel as Cause of Action Institute (2013-2019) and continues to volunteer in that position. Ryan’s practice touches on various aspects of government oversight, civic engagement, and administrative and constitutional law. He regularly lectures on government transparency matters and litigates cases under the Freedom of Information Act and Administrative Procedure Act. Ryan has helped to prosecute state public records requests, too, and provided amicus support at various levels of state and federal courts, including the Supreme Court, on various matters. As a policy expert, he regularly advises congressional staff about FOIA reform and cutting-edge transparency issues.
Ryan was graduated from the University of San Diego (2010) summa cum laude with an honors degree in history and political science. He earned his JD and MA in philosophy from Boston University (2013). While a law student, Ryan completed internships at the Cato Institute’s Center for Constitutional Studies, as well as the Office of the General Counsel of the Roman Catholic Archdiocese of Boston. He served as Executive Editor for Notes and Comments at the Review of Banking & Financial Law and worked as a research assistant for the second revised edition of the Heritage Foundation’s Guide to the Constitution (2014).
Ryan is admitted to the practice of law in New York State, the District of Columbia, and the Commonwealth of Virginia. In addition to his work at AFPF, Ryan is the president of the American Society of Access Professionals and a contributor at FOIA Advisor.