Cornell Law Holds 13-Spot, But Trails Ivy Rivals in Annual Law School Ranking

Correction appended. Cornell Law will once again be the United States’ 13th top law school, according to a leaked copy of the U.S. News and World Report’s annual rankings posted yesterday on Above the Law, a well-known legal blog. Every year, U.S. News — which is best known for its annual ranking of undergraduate schools — scores 192 law schools on the basis of selectivity, post-graduation placement success, faculty resources, bar passage and peer and professional assessment scores, according to the survey’s website. While maintaining its membership to the exclusive “Top-14” — a group of schools historically placed at the top of U.S. News’ report — Cornell Law still ranks below the four Ivies that also offer a J.D. program: Yale, Harvard, Columbia and The University of Pennsylvania. This year, Cornell placed between Northwestern and Georgetown — and six spots behind Penn, its closest Ivy competitor.

Cornell Law Professor Advocates for More Regulations on Financial Technology

More than 10 years have passed since the global financial crisis broke out, and the financial institutions’ ability to rethink and sophisticate their business has been growing relentlessly. Prof. Saule T. Omarova, law, argues in her latest work that while we are now more cognizant of, and to an extent protected from, the risk in some financial products, the financial system could be ill-equipped for the latest technological innovations in finance, otherwise known as fintech. In her research paper, New Tech v. New Deal: Fintech As A Systemic Phenomenon she suggests that the fintech revolution can’t be as neutral as some actors pretend, because finance is “a matter of utmost and direct public policy significance.”

Omarova writes in New Tech v. New Deal that if we blur the public policy dimension in fintech, and grasp only the private dimension of how it enables transactions, we misrepresent its systemic risk. By doing so, she warns, we help new financial and tech conglomerates avoid financial regulation and circumvent the fundamental separation between banking and commerce, giving them a carte blanche to engage in riskier activities for consumers. This reflection is at the very core of Omarova’s pro-regulation stance, made clear throughout her research work and more recently in her testimony before the Senate two weeks ago.