Patricia A. McCoy, a nationally prominent scholar in financial services regulation, is the inaugural Liberty Mutual Insurance Professor of Law at Boston College Law School. In 2010 and 2011, she joined the U.S. Department of the Treasury, where she helped form the new Consumer Financial Protection Bureau (CFPB), and, as the CFPB’s first assistant director for mortgage markets, oversaw the Bureau’s mortgage policy initiatives. She teaches insurance law as well as banking regulation and a full array of other financial services regulatory courses. After receiving her law degree from U.C. Berkeley, Professor McCoy clerked for the late Hon. Robert S. Vance on the U. S. Court of Appeals for the Eleventh Circuit and was a partner at Mayer Brown in Washington, D.C., specializing in complex securities, banking and constitutional litigation. More recently, she was the Director of the Insurance Law Center at the University of Connecticut School of Law before joining the Boston College faculty.
Professor McCoy's research 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 in the Texas Law Review in 2002, Professor McCoy was among the first to raise alarms about the dangers of subprime loans. She has three books to her credit, the most recent being The Subprime Virus with Kathleen Engel, published by Oxford University Press in 2011. The author of numerous book chapters and articles, she has testified before Congress and been quoted in the New York Times, Wall Street Journal, and The Washington Post and on National Public Radio. Previously, Professor McCoy was a Visiting Scholar at the MIT Economics Department and served on the Federal Reserve’s Consumer Advisory Council and on the board of the Insurance Marketplace Standards Association. In 2012, the American Law Institute named her as an Adviser to the Third Restatement on Consumer Contracts.