Previously, there had been only one such referral to a federal agency charged with fair lending enforcement. As Comptroller, Ludwig served as a member of the Basel Committee on Bank Supervision, a director of the Federal Deposit Insurance Corporation, and a director of the Neighborhood Reinvestment Corporation. Business career Ludwig served as vice chairman of Bankers Trust/Deutsche Bank from April 1998 to December 31, 1999. During his time there, he participated in the rescue negotiations for Long-Term Capital Management, a bond-trading hedge fund that was recapitalized under the Federal Reserve’s guidance by 16 leading financial institutions to prevent its collapse. In 2001, Ludwig founded Promontory Financial Group, becoming its CEO and chairman. The firm gained attention when, following a $750 million trading scandal at Allied Irish Banks, Promontory produced what became known as "The Ludwig Report," recommending improved compliance and management measures which helped the bank regain its footing. In 2007, after Ludwig advised Countrywide Financial, Portfolio.com wrote that "[Countrywide CEO] Angelo Mozilo is a tough character, and Ludwig is one of the few people with enough clout to persuade him that the game really was up." Ludwig is also co-founder and managing partner of Canapi Ventures, a venture capital firm, and founder and CEO of Ludwig Advisors, which advises financial firms on critical matters. Promontory Interfinancial Network, a separate company that Ludwig started in 2003 with former Federal Reserve Vice Chairman Alan Blinder, was sold in 2019 to Blackstone Group. Publications Ludwig is the editor of The Vanishing American Dream, a book that provides comments from experts across the political spectrum on the economic challenges facing lower- and middle-income Americans. The book was the outcome of a 2019 Yale Law School symposium organized by Ludwig. The book examines how traditional economic measures like the unemployment rate and GDP are masking a crisis for millions of lower- and middle-income families, who struggle to afford health care, housing, and education and occupy jobs that cannot help them reverse the downward slide. Kirkus Reviews gave the book a positive review.” Ludwig has written numerous articles on banking, finance, and economic policy for scholarly journals and publications and has been a guest lecturer at Yale and Harvard law schools and Georgetown University's International Law Institute. Ludwig's works center on the economic challenges confronting lower- and middle-income Americans. He has noted that real-wage stagnation and increases in the costs of education, housing, health care