Dr. Harold A. Black is a Professor Emeritus at the University of Tennessee, Knoxville who lectures, consults and publishes extensively on the subjects of financial institutions and the monetary system. After being the first black male freshman to enroll at the University of Georgia in 1962, Black went on to become a Dean’s List student and earn his undergraduate degree. He later earned his Master’s and Doctorate degree from Ohio State University.
In addition to serving on the faculty at the University of Tennessee, Black has taught at American University, Howard University, the University of North Carolina-Chapel Hill and the University of Florida. He has also worked for the government in the Office of the Comptroller of the Currency the Department of Economic Research and Analysis and also as a Board Member for the National Credit Union Association. His professional career has also included sitting on the board of directors for Home Savings of America, New Century Financial Corporation and Federal Reserve Bank of Atlanta.
As a writer, Black has had his work featured in such publications as the American Economic Review: Journal of Money, Credit and Banking, Journal of Finance, Journal of Banking and Finance, Southern Economic Journal, Journal of Financial Research and the Journal of Monetary Economics. He has also served as a consultant for such companies as SunTrust Bank, Chrysler Financial Corporation, National Bank of Commerce, Branch Banking and Trust Company, and the Mortgage Bankers of America.
Black helped write the legislation that came to be known as the Truth in Lending Act, which standardized how costs associated with borrowing money are calculated and disclosed. In the following video, Black discusses the difference between the Annual Percentage Rate (APR) of a loan and the Interest Rate, two terms that are very often confused by consumers.