Cornelius K. Hurley

Director, Center for Finance, Law & Policy, Professor of the Practice of Banking Law

Expertise:
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Education:

AB, College of the Holy Cross, 1968
JD, Georgetown University, 1974
PMD, Harvard Business School, 1986

Contact Info:

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Professor Cornelius K. Hurley has over 30 years of diversified legal and entrepreneurial management experience in financial services. He is a director of Computershare Trust Company, N.A., and of the Federal Home Loan Bank of Boston. Professor Hurley established the Boston office of The Secura Group, Washington, D.C. Formerly, he was general counsel of Shawmut… Read more

Professor Cornelius K. Hurley has over 30 years of diversified legal and entrepreneurial management experience in financial services. He is a director of Computershare Trust Company, N.A., and of the Federal Home Loan Bank of Boston. Professor Hurley established the Boston office of The Secura Group, Washington, D.C. Formerly, he was general counsel of Shawmut Corporation and assistant general counsel of the Board of Governors of the Federal Reserve System. Active in the American Bar Association, he is a faculty member of Banking Law Basics, Banking Law II, Consumer Financial Services Basics, and Investment Management Basics, all institutes conducted jointly by the Morin Center and the ABA. He teaches Banking Structure and Regulation and the Thesis Seminar in the Graduate Program. Professor Hurley also serves as reporter to the American Bar Association’s Task Force on Financial Markets Regulatory Reform. He is the Director of the Center for Finance, Law & Policy.

In the Media

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  • Sizing Up Banks

    September 22, 2014

    CFO Magazine Cornelius Hurley, School of Law, Center for Finance, Law & Policy In July, small business and middle market lender CIT Group joined an elite club. In acquiring California’s OneWest Bank, the phoenix that arose from the ashes of mortgage lender IndyMac, it voluntarily crossed the threshold to being a “systemically important” financial institution. With $67 billion in […]

  • Depositors block bank’s plan to convert to a publicly traded stockholder business

    September 2, 2014

    Boston Globe (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy Massachusetts has lost many of its community banks in recent years, in part because some converted from private to publicly held companies, opening the door to acquisitions by bigger banks — and to big paydays for executives… Expert quote: “There […]

  • Here comes Wells Fargo

    August 29, 2014

    Boston Business Journal (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy As Wells Fargo & Co. blanketed the country with its branches and ATMs over the years, most of New England has remained one step out of its aggressive retail expansion… Expert quote: “The problem is that Wells Fargo is considered a […]

  • Rejection of banks’ living wills unlikely to carry near-term enforcement action

    August 8, 2014

    SNL The Daily Dose Cornelius Hurley, School of Law, Center for Finance, Law & Policy Following the rejection of the second submission of living wills for 11 large, complex banks, regulatory consultants are looking to July 2015, when the banks have to re-submit their plans. The fundamental question: What would regulators do if banks failed to address […]

  • FDIC Says ‘Too Big to Fail’ Bank Bailouts Could Happen Again

    August 6, 2014

    The Fiscal Times Cornelius Hurley, School of Law, Center for Finance, Law & Policy The Treasury Department, just last week, assured lawmakers and taxpayers that new safeguards put in place by the Dodd-Frank Act after the financial crisis mean that U.S. taxpayer would never again be on the hook for the bailout of a large financial institution… […]

  • Complacency with Big Banks Risks a Severe Hangover

    August 1, 2014

    American Banker (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy The Government Accountability Office’s report on market perceptions of government support for big banks had barely been released before a number of journalists — not to mention financial lobbyists — jumped on the finding that the subsidy currently enjoyed by […]

  • GAO Study Expected to Say Big Banks’ Subsidy Has Shrunk (For Now)

    July 22, 2014

    American Banker (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy A government report detailing the funding advantage the biggest banks receive is likely to be unveiled on July 31, according to sources familiar with the matter… Expert quote: “This notion that the subsidy is lower now than it was during […]

  • Big banks’ living wills detail how to avoid bailouts

    July 7, 2014

    The Deal Pipeline Cornelius Hurley, School of Law, Center for Finance, Law & Policy Critics of too-big-to-fail banks should relax — the largest financial institutions won’t cost taxpayers any money if they fail. At least that’s what the biggest 17 financial institutions are telling federal regulators in the publicly available portions of their most recent set […]

  • Why the ‘Too Big to Fail’ Fight May Get a Revival

    July 7, 2014

    American Banker (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy The legislative battle over reining in big banks’ implicit guarantee is suddenly poised for a comeback. The issue is expected to reemerge as the Government Accountability Office is said to be finalizing a report on whether big banks get a subsidy […]

  • Appeals Court Says Judge Erred in Blocking SEC-Citigroup Settlement

    June 4, 2014

    Wall Street Journal (subscription required) Cornelius Hurley, School of Law, Center for Finance, Law & Policy An appeals court handed prosecutors and regulators a win Wednesday with a ruling that eases pressure on them to extract admissions of wrongdoing in settlements with companies… Expert quote: “The SEC is now caught between the legal niceties the […]

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