Center for Banking & Finance Newsletter

Center for Banking & Finance Newsletter:
Thursday, September 4, 2014

Message from the Director

Lissa Broome The Center enjoyed another successful year. We have tried to summarize some of the year's highlights and alert you to upcoming events. We said goodbye in June to Professor Saule Omarova, who left UNC to take a position at Cornell Law School. Saule remains on the Center's Board of Advisors and we look forward to continuing collaborations with her. Many thanks to the members of our Board of Advisors who are integral to fulfilling the Center’s mission. That mission is to play a leadership role in the continual evolution of the financial services industry by studying the legal and policy issues related to banking and finance, advancing the teaching of banking and finance, and sponsoring conferences for industry professionals.

2014-15 Programs

The Dan K. Moore Program in Ethics, October 24, 2014, Chapel Hill, NC

This year's program, Emerging Issues in Privilege and Conflicts of Interest, will include 4 hours of Continuing Legal Education credit in Ethics and Professional Responsibility.

Topics include:

  • Work Product and the Business Lawyer
  • Lawyer-Client Disputes and the Privilege for Communications within a Law Firm with the Firm's Own In-House Counsel
  • Attorney-Client Privilege and the Internal Investigation
  • Attorney-Client Privilege and Conflicts of Interest in Mergers & Acquisitions
  • Conflicts of Interest in a Complex World

Panelists include:

  • Alison Bost, Womble Carlyle
  • Bernie Burk, UNC School of Law
  • Bill Pappas, Parker Poe
  • Tammy Stringer, BB&T
  • Jennifer Venable, Capitol Broadcasting Company

Register now at

The Clearing House Annual Conference, November 20-21, 2014, New York NY

The Clearing House Annual Conference is a forum for the industry’s leaders to examine the bank regulatory and payments landscape in the post-Dodd-Frank era. It features two days of keynote speakers and in-depth expert panels on pressing issues for commercial banks. The Center is co-sponsoring the Bank Directors Panel on Friday, November 21. Lissa Broome will be a moderator.

Register now at

Save the Dates

Festival of Legal Learning: Consumer Law and Consumer Credit Symposium
Chapel Hill, NC
February 13-14, 2015

ABCs of Banking Law
Charlotte, NC
March 25, 2015

Banking Institute
Charlotte, NC
March 26-27, 2015

Broadening Corporate Diversity: Earning a Board Seat
Chapel Hill, NC
TBD, May/June 2015

NC Bank Directors’ College
Chapel Hill, NC
July 23-24 & August 20-21, 2015

2013-14 Program Highlights

Dan K. Moore Program in Ethics

Dan K. Moore Program in Ethics: Adjusting to the "New Normal": Ethical Challenges for In-House and Outside Counsel, October 4, 2013. The panel discussed changing demographics of law firms and the implications for training new attorneys, including expectations of in-house counsel regarding training of their own lawyers and expectations regarding lawyers from firms representing the organization. Additional topics included new methods of legal services delivery and legal process outsourcers. Dr. Barbara L. Fredrickson, Kenan Distinguished Professor of Psychology, and author of Positivity and Love 2.0 spoke on how to reduce stress. The program included a networking lunch for panelists and participants.

Professors Hazen, Broome, and Burk directed and moderated the program, the panelists were:

  • David Batty, Winston & Strawn
  • Bernie Burk, UNC School of Law
  • Barbara Fredrickson, UNC
  • Robert Johnson, BB&T
  • Greg McPolin, Pangea3
  • Fenita Morris-Shepard, Labcorp
  • Edward Winslow, Brooks, Pierce, McLendon, Humphrey & Leonard

The Clearing House Annual Conference

On November 22, 2013, at The Clearing House Annual Conference in New York City, the Center participated in a panel on Effective Compliance Risk Management in a Rapidly Changing Regulatory Environment. Lissa Broome and Richard Neiman, Vice Chairman, PricewaterhouseCoopers LLP, served as moderators. The panelists were:

  • Sally Belshaw, Office of the Comptroller of the Currency
  • Carol Hunley, Sovereign Bank
  • Steve Kaplan, Consumer Financial Protection Bureau
  • Paula Dominick, Bank of America

A transcript of this panel was published in Volume 18, Issue 2 of the North Carolina Banking Institute Journal.

The Clearing House

ABCs of Banking Law

The Center held its third "ABCs of Banking Law" program on Wednesday, April 2, 2014, in Charlotte at the offices of Mayer Brown LLP. This program focused on the basics of banking law and attracted participants from banks and firms around the country (including Hawaii). The faculty was composed of:

  • Lissa Broome, UNC School of Law
  • Scott Cammarn, Cadwalader, Wichersham, & Taft LLP
  • Carol Hitselberger, Mayer Brown
  • Mark Kanaly, Alston + Bird LLP
  • Gene Katz, Wells Fargo Bank
  • Karol Sparks, Barack Ferrazzano Kirschbaum & Nagelberg LLP

The Banking Institute

The 18th annual Banking Institute was held on April 3-4, 2014, at The Ritz-Carlton, Charlotte, NC. The Institute featured special presentations by:

  • Gail Hillebrand, Associate Director for Consumer Education & Engagement, Consumer Financial Protection Bureau
  • Beth DeSimone, Executive Vice President, General Counsel and Secretary, CommunityOne Bancorp, CommunityOne Bank, N.A.

There were panel discussions on cyber-security, Dodd-Frank Act update, mortgage lending the impact of CFPB and GSE reform, community banking, and enforcement.

The third annual George and Susan Beischer address was given by Timothy J. Mayopoulos, President and Chief Executive Officer, Fannie Mae.

2014 Banking Institute

North Carolina Banking Institute Journal

Two issues of Volume 18 of the North Carolina Banking Institute journal were published last year in November 2013 and in March 2014.

Issue 1 was a special issue collecting some of the papers and transcripts presented at the February 7-8, 2013, Washington, D.C. academic conference, “The Political Economy of Financial Regulation.” The conference was co-sponsored by the Center and The George Washington University Center for Law, Economics & Finance (C-LEAF); the Insurance Law Center at the University of Connecticut School of Law; and the Institute for Law and Economic Policy. Of special note, is a transcript of the conference's keynote address by Simon Johnson, co-author of 13 Bankers: The Wall Street Takeover and The Next Financial Meltdown and White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You. Other contributors include Judge Stanley Sporkin, Frank Partnoy (author of F.I.A.S.C.O., Infectious Greed, The Match King, and WAIT: The Art and Science of Delay.), Michael W. Taylor (Financial Stability Board, Bank of International Settlements), Robert Jenkins (Bank of England), and Anat Admati (co-author of The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It).

Issue 2 was distributed at the annual Banking Institute and contained the transcript of the debate on effective compliance risk management, which occurred at The Clearing House Annual Conference in New York City in November 2013, and an article by Tom Hodge on the alternative investment fund managers directive. In addition, there were thirteen student-written comments and notes.

Learn more about the journal at

Eleven 3Ls served as editors of the journal and there were fourteen 2L staff members. Ten students have been elected to editorial positions for 2014-15, and there are fourteen new staff members.

NCBIJ Masthead

Career Initiatives in 2013-14

The Center continued its efforts to assist journal students with learning more about the legal profession and building a professional network.

Journal Orientation Career Lunch. Law school alums described their career paths and met with students in small groups to provide resume and career advice.

  • Nancy Coppola, First Citizens
  • Drew Kifner, Moore & Van Allen
  • Brian Meacham, Smith Anderson
  • Jason Strickland, Ward and Smith
  • Sara Weed, North Carolina Office of the Commissioner of Banks

Career Trek. On the first day of Fall Break fifteen students were hosted by BB&T and Smith Anderson in Raleigh.

BB&T participants included:

  • Lori Mahmoud
  • Lucrecia Moore
  • Tammy Nicholson
  • Dean Scharnhorst
  • Joelle Weltzin
  • Robert Wirth

A number of attorneys from Smith Anderson participated, Including:

  • Geoff Adams
  • Andrew Atkins
  • Peter Bosman
  • Rebecca Brophy
  • Jesse Jones
  • Charles Kabugo-Musoke
  • Jessica Middlebrooks
  • Kerry Shad
  • Jeff Wolfe

The Center is especially grateful to Geoff Adams and Kelly Smith of Smith Anderson and Connie Woodlief and Joelle Weltzin of BB&T for facilitating these visits.

Professional Network. Journal students and members of the Board of Advisors also try to connect with each other informally to assist the students in building a professional network.

North Carolina Banking Institute Journal Scholarship

Graham Miller Dylan Castellino Sponsorship funds provide scholarship support each year for two journal editors. The 2013-14 scholarship recipients were Jacob Gerber and Cowden Rayburn. The 2014-15 recipients are Dylan Castellino, Executive Editor of Volume 19, and Graham Miller, Editor-in-Chief of Volume 19. Each will receive approximately $7,200.

Director Diversity Initiative

On May 28, 2014, the ninth annual one-day training program for aspiring diverse directors was held at the Rizzo Center in Chapel Hill, “Broadening Corporate Board Diversity: Earning a Board Seat.” Lissa Broome moderated and the panelists (with their board affiliations) were:

  • Jan Davis (GSP Marketing Technologies,, SEAL Innovation)
  • Jim Fraser (Goodwin Executive Search)
  • Frank Gozzo (Noverant, FlightGest, and Make-a-wish)
  • Jewell Hoover (Fifth Third Bancorp, Foundation for the Carolinas, and AARP)
  • Charley Majors (Executive Chairman of American National Bank & Trust Company)
  • Keith Pigues (Office of Mortgage Settlement Oversight and The Research Triangle Foundation)
  • Trudy Smith (Executive Service Corps of the Triangle)

The panelists discussed topics such as skills needed for board members and how to develop them, realistic approaches to advancing board candidacy, diverse directors in non-diverse settings, networking, and evaluating companies and opportunities.

Director Diversity Initiative 2014

DDI Database

Potential diverse directors may register on the DDI’s potential director database so that registrants’ names may be provided to nominating committees of corporate boards, government commissions, and non-profits when requested. Companies looking for diverse candidates should contact Lissa Broome to conduct a database search according to their desired criteria.

DDI success stories are featured on our website. The individuals profiled attended programs sponsored by the Director Diversity Initiative and were later appointed or elected to board seats of corporations, nonprofits, or government commissions.

Katina DortonOne of our most recent successes was Katina Dorton. In August 2014 she joined the board of directors of US Ecology, a publicly traded company that provides environmental services to commercial and government entities. Her name was among those presented to the company from a search of the DDI database. Katina attended the Broadening Corporate Board Diversity program in 2011. She served on the board of Evatran from 2011-13, and since 2013 has served on the boards of BioMedomics and Easter Seals/UCP of NC/VA.

Thank You!

Thanks for your interest in the activities of the Center for Banking and Finance. We hope you will participate in some of our programs over the course of the year.

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