Unique Public and Private Partnership Forms Online Lending Policy Institute

Boston University Professor Cornelius Hurley to Serve as Executive Director

WASHINGTON--()--The Online Lending Policy Institute (OLPI) today announced its formation and the appointment of its first Executive Director, Professor Cornelius Hurley. OLPI will provide a one-stop resource for those interested in Fintech generally and marketplace lending specifically. The OLPI will provide research and education to ensure informed policy and best practices.

“The formation of the Institute represents a milestone in the maturation of this rapidly advancing industry. We are committed to bringing a new and balanced voice to help address issues and communicate with regulators and the policy establishment”

“The formation of the Institute represents a milestone in the maturation of this rapidly advancing industry. We are committed to bringing a new and balanced voice to help address issues and communicate with regulators and the policy establishment,” said Professor Hurley.

The OLPI provides policy analysis, in-depth research, broad educational initiatives (like the successful MPL Policy Summit), and relevant and engaged thought leadership to foster responsible growth of online lending (providing a strong bridge between established financial services and technology knowledge). To that end, the OLPI convenes various stakeholders, facilitates industry consensus, and encourages the development of a regulatory framework that protects borrowers while promoting innovation. Key activities of the OLPI will include:

  • Substantive research that affects the online lending industry
  • Publishing white papers, studies, and reports
  • Engaging policy makers and industry stakeholders in the creation of forward-thinking public policy
  • Commissioning studies to ensure policymakers and those studying the industry have accurate data to rely on
  • Hosting the annual MPL Policy Summit to share, educate, and exchange ideas
  • Acting as the one-stop solution for all who seek to understand legal and regulatory landscape of online lending
  • Providing the tools necessary to ensure responsible innovation in Fintech-- OLPI will be a valuable research resource for the various associations that have already formed to advocate for Fintech

To reach its goals, the OLPI knew it was important to be led by an expert in financial services thought leadership that has built a reputation of integrity and innovation with the banking community at large. The OLPI is pleased to announce the appointment of Professor Cornelius Hurley as the first Executive Director of the Institute. Professor Hurley brings more than 35 years of diversified legal, entrepreneurial, and academic experience in the financial sector.

Hurley is Professor of the Practice of Banking Law at Boston University, and the founding Director of the University’s Center for Finance, Law & Policy. Professor Hurley currently serves on the boards of directors of the Federal Home Loan Bank of Boston, and Computershare Trust Company, N.A., an integral part of one of the world’s leading transfer agents. Through the Center, Professor Hurley produced nonpartisan policy recommendations, mobilized vigorous panels of industry experts. For example, he brought in Barney Frank and Chris Dodd to discuss the Dodd-Frank Wall Street Reform and Consumer Protection Act, and established the Center as a key player in financial services policy initiatives.

Prior to his work at the Center he led Boston University’s LLM program in Banking and Financial Law. Hurley was general counsel of a major bank holding company and assistant general counsel at the Federal Reserve Board in Washington, DC. He holds a Juris Doctor degree from Georgetown University, graduated from the program for management development at Harvard Business School, and he earned his undergraduate degree from The College of the Holy Cross.

OLPI’s growing roster of members includes founding members Cross River Bank, Boston University’s Center for Finance, Law & Policy, and RocketLoans, among others. OLPI will announce its broader membership, including many leading industry players at LendIt 2017, where OLPI will host a day of legal and regulatory panels. OLPI will be a critical resource for the various associations that have launched over the past year. Membership in OLPI is open for banks, Fintech start-ups, marketplace lenders, service providers, consumer groups, other industry associations, academics, attorneys, and consultants. For more information about becoming a member, visit OLPI.org.

About the Online Lenders Policy Institute

The Online Lending Policy Institute is a nonprofit, independent think tank that acts as a catalyst for ensuring that the U.S. creates a well-reasoned Fintech ecosystem that fosters responsible innovation. For more information visit, OLPI.info.

Contacts

For OLPI
Michael Young, 415-359-6420
michael.young@actual.agency