Rebel A. Cole

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Rebel A. Cole

Professor of


DePaul University

Office Phone:
(312) 362-6887
Fax Number:
(312) 362-6566
1 E. Jackson Blvd.
Suite 5531
Chicago, IL 60604

Prof. Cole training Sudanese government officials on stress testing during a March 2016 workshop in Khartoum (left) and training staff of the Central Bank of Ghana on implementation of Basel II during a June 2015 workshop in Accra (right).

Prof. Cole testifying on Jan. 25, 2016 before the Illinois Senate Committee on Financial Services about the decline in bank lending to small businesses. My written testimony can be found here and video at youtube can be found here.


Short Bio:

Dr. Rebel A. Cole has been a Professor of Finance in the Driehaus College of Business at DePaul University since July 2003 and a Professor of Real Estate since July 2008. He teaches graduate-level courses in financial management, corporate governance and valuation, as well as the capstone course for undergraduate finance majors. Prior to coming to DePaul, Dr. Cole taught at the University of New South Wales in Sydney, Australia and the University of Auckland in Auckland, New Zealand. During his career, he has taught finance in six different countries (Australia, Bahrain, People's Republic of China, New Zealand, Switzerland and the U.S.).

Dr. Cole has published peer-reviewed articles in top academic journals that include the Journal of Finance, the Journal of Financial Economics, the Journal of Financial & Quantitative Analysis, the Journal of Banking &Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. His primary areas of research are commercial banking, corporate governance, financial institutions, real estate and small-business finance. Most of his manuscripts are available for free download from the Social Science Research Network (SSRN), where he is ranked in the top 0.3% of more than 300,000 researchers worldwide. According to Google Scholar, Dr. Cole's research has been cited more than 6,500 times. According to Scopus, Dr. Cole's research has been cited more than 1,300 times. According to the Social Science Citation Index, Dr. Cole's research has been cited more than 1,200 times.

Dr. Cole is also an active commentator in the media. During the past few years, he has been interviewed for stories in the Wall Street Journal, the New York Times, the American Banker, Bloomberg BusinessWeek, the Chicago Tribune, CNN Money, the Huffington Post, NPR's All Things Considered, Voice of America News, the Washington Post, the Washington Times, and Yahoo Finance. He has appeared in television interviews on CNN, First Business News, Fox Business News, the PBS Nightly Business Report, as well as on local Chicago stations including several appearances on WTTW's Chicago Tonight.

Dr. Cole received his PhD in Business Administration from the Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill in 1988. For the next ten years, he worked as a staff economist at the Federal Home Loan Bank Board (now the Office of Thrift Supervision), where he worked on the 1980s S&L crisis; at the Federal Reserve Bank of Dallas, where he worked on the 1990s banking crisis; and at the Board of Governors of the Federal Reserve System in Washington, DC, where he oversaw the design, development and implementation of the System for Estimating Examination Ratings (SEER)--the Fed's primary system for offsite monitoring of banks and bank holding companies--and served as co-principal investigator for the Survey of Small Business Finances.

Since leaving the Board of Governors in 1997, Dr.Cole has served as a special advisor to the Asian Development Bank, th Carribbean Technical Assistance Center, the International Monetary Fund, the Middle East Technical Assistance Center, and the World Bank, providing technical assistance and training to Central Banks in developing countries that include Antigua, the Bahamas, Belize, Cape Verde, China, Ghana, Guyana, Jamaica, Jordan, Kenya, Lebanon, Malaysia, the Maldives, Mongolia, Montserrat, Morocco, Nigeria, Palestine, the Philippines, Russia, St. Lucia, St. Kitts, Sudan, Syria, Trinidad & Tobago, Turkey, Uzbekistan and Yemen. Dr. Cole has participated in more than 60 international missions to these countries to assist in the development of stress tests, financial stability reports, and off-site monitoring systems for commercial banks and other financial institutions. During August 2008 and May 2009, Dr. Cole was a visiting scholar at the Federal Deposit Insurance Corporation (FDIC) in Washington, DC.

Is the U.S. jobs market improving? Not very much. check here.

Are U.S. banks lending to small businesses? Not yet. check here.

Should Congress abandon the business tax deduction for interest expense? Of course not. Check here.

Check out Dr. Cole's recent commentary in the media, including:

Selected Publications:



Previous Positions:

Tweets by @RebelACole


Rebel A. Cole, Professor of Finance and Real Estate
DePaul University, 1 E. Jackson Blvd.--Suite 5531, Chicago, IL 60604.
(Office) 312-362-6887 (Fax) 888-425-4687 (Mobile) 312-933-0584 (Skype) rebelcole