Category: Cornelius Hurley

Letters to the Editor: On banks

December 6th, 2014 in 2014, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, OP-EDs by BU Professors, School of Law, The Economist 0 comments

hurley11-150x150The Economist
By Cornelius Hurley, Center for Finance, Law & Policy, School of Law

The new bank capital standards put forward by the Bank of England will not, as you state, “remove the implicit subsidy big banks have unfairly enjoyed” by their being too big to fail (“Buffering”, November 15th)…

View full article by expert Cornelius Hurley

Baker Admin. Will Inherit Stable Banking Community

November 23rd, 2014 in 2014, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Banker & Tradesman (aubscription required)
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Elections are a little bit like Christmas, in that stakeholders in the financial services industries will be holding their breath to see what Santa – or a new Republican Congress or governor – will bring them…

Expert quote:

“It’s a little bit like Obamacare. They’d love to eliminate it tomorrow, but they wouldn’t know what to do with it if they did.”

View full article

Should Bankers Fear Obama’s Pick for Attorney General?

November 19th, 2014 in 2014, American Banker, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150American Banker (subscription required)
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, but it appears that the country’s banks can breathe easy over the pending shake-up…

Expert quote:

“They’ve decided to go after shareholders with massive multibillion fines rather than the individuals, and she’s been part of that decision process.”

View full article

Should Bankers Fear Obama’s Pick for Attorney General?

November 11th, 2014 in 2014, American Banker, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

cornelius-hurleyAmerican Banker (subscription required)
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor…

Expert quote:

“They’ve decided to go after shareholders with massive multibillion fines rather than the individuals, and she’s been part of that decision process.”

View full article

Fed Said to Seek More Time to Mull Actions on FX Traders

November 6th, 2014 in 2014, Bloomberg, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Bloomberg
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

The Federal Reserve asked some currency traders under investigation for foreign-exchange manipulation to waive the deadline for civil actions against them, according to two people with knowledge of the situation…

Expert quote:

“It’s by going after the individuals that you get cultural changes. The drawback is the regulators are often dealing with people at the very lowest level.”

View full article

New US rules on banks, borrowers eased to spark wider home lending

October 21st, 2014 in 2014, Associated Press, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Associated Press
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Buying a home may have gotten a little easier this week…

Expert quote:

“The regulators’ work on the rules attracted the essence of the housing industrial complex. They all came out of the woodwork.”

View full article

Fed spotted JPMorgan ‘Whale’ risks years before scandal –inspector

October 21st, 2014 in 2014, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Reuters
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

The Federal Reserve’s New York branch knew about risks JPMorgan Chase & Co was taking with its massive “London Whale” derivatives bets four years before they imploded, but it failed to act properly to head them off, the U.S. central bank’s inspector general said…

Expert quote:

“It’s a failure to coordinate, and it’s frustrating. It’s nice to think that with the new set of players (since 2008) in Treasury and the New York Fed that we would get a re-examination of bank supervision, but I really don’t see that happening without another financial crisis.”

View full article

Sizing Up Banks

September 22nd, 2014 in 2014, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150CFO 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 assets, the combined bank will be subject to regulatory requirements stricter than those imposed on the average U.S. bank…

Expert quote:

“Almost every participant in the financial marketplace continues to believe that a small number of banks remain too big to fail and will, most definitely, be bailed out in a time of stress. This is the essence of what it means to be a systemically important financial institution.”

View full article

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

September 2nd, 2014 in 2014, Boston Globe, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Boston 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 just seems to be people saying, ‘Enough is enough.’ ”

View full article

Here comes Wells Fargo

August 29th, 2014 in 2014, Boston Business Journal, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150Boston 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 ‘too big to fail’ bank by the feds and I don’t think regulators would ever allow it to make such a big purchase like Citizens.”

View full article