The Fourth Edition of Financial Regulation: Law and Policy continues to offer students and faculty an innovative and accessible introduction to the field. Financial regulation has long been at the intersection of technological innovation, market forces, and the political economy, punctuated from time to time by financial and economic crises. Since the turn of the millennium, we have seen these pressures intensify and multiply. We have lived through the most systemic Financial Crisis in the last 85 years, a major shift in regulatory design, the digital transformation of the economy, including the financial sector, a worldwide Pandemic, and hyper fast deposit runs at regional banks leading to what we call the March 2023 Turmoil, all playing out against a sharply divided and shifting political landscape. Each of these elements has an impact on the public debate over financial regulation. With this Fourth Edition, the textbook keeps pace with all these changes through the end of April 2025. Like the Third Edition, the Fourth Edition analyzes and compares the market and regulatory architecture of the entire U. S. financial sector, from banks, insurance companies, and broker-dealers, to asset managers, fintech companies of many types, complex financial conglomerates, a(more... )