Lev Menand is an Academic Fellow, Lecturer in Law, and Postdoctoral Research Scholar at Columbia Law School. His research focuses on money and banking, central banking, financial regulation, administrative law, separation of powers, corporate governance, and the history of economic thought. Lev’s co-authored proposal for the Federal Reserve to offer digital dollars has been endorsed by the New York Times Editorial Board, and draft legislative text that would implement it has been introduced in the Senate and the House.
Lev served as senior advisor to the Deputy Secretary of the Treasury from 2015-2016 and senior advisor to the Assistant Secretary for Financial Institutions from 2014-2015. While at Treasury, Lev worked on financial regulatory reform, financial sector cybersecurity, Treasury market infrastructure, financial inclusion, and investment security (CFIUS). Lev has also worked as an economist at the Federal Reserve Bank of New York in the Bank’s Supervision Group, where he was part of the Bank’s Governance and Culture Reform initiative, and in its Research and Statistics Group, where he helped to develop econometric models for the Federal Reserve System’s first Comprehensive Capital Assessment and Review. During his time at the New York Fed, Lev was seconded to the Financial Stability Oversight Council, where he helped to prepare the Council’s first financial stability report.
Lev has a B.A. from Harvard College and a J.D. from Yale Law School. He clerked for Judge Jed S. Rakoff on the Southern District of New York and Chief Judge Robert A. Katzmann on the U.S. Court of Appeals for the Second Circuit.
- Presidential Removal: Defining Inefficiency, Neglect of Duty, and Malfeasance in Office, 121 Colum. L. Rev. __ (forthcoming 2021) (with Jane Manners)
- The Monetary Basis of Bank Supervision, 74 Vand. L. Rev. __ (forthcoming 2021)
- Digital Dollars, 99 G. Wash. L. Rev. __ (forthcoming 2020) (with Morgan Ricks & John Crawford)
- Too Big To Supervise: The Rise of Financial Conglomerates and the Decline of Discretionary Oversight in Banking, 103 Cornell L. Rev. 1527 (2018)
- Misconduct Risk, Culture, and Supervision, Federal Reserve Bank of N.Y. White Paper (2017) (with Stephanie Chaly, James Hennessy, Kevin Stiroh & Joe Tracy)
- Stilling the Pendulum: Regulatory, Supervisory, and Structural Approaches, 70 Vand. L. Rev. En Banc 273 (2017)
- Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market, in Oxford Handbook of the Indian Economy (2012) (with James Vickery, Xavier Gine & Robert Townsend)