Clifford Rossi

Soft Skills Reign at Smith School Business Summit

Companies worried about disruption need science and technology to stay relevant in the 21st century, but speakers at the fifth annual Smith School Business Summit pointed to soft skills as the real competitive advantage. “If you get leadership, management and culture right, everything else takes care of itself,” keynote speaker David Williams told an audience of more than 300 faculty, staff, students and working professionals gathered Oct. 28, 2016, at the Omni Shoreham Hotel in Washington, D.C.

Could Deutsche Bank Fine Spark a New Crisis?

Headquarters of Deutsche Bank in Frankfurt, Germany Deutsche Bank is facing a possible $14-billion fine from U.S. regulators for its alleged role in propping up the housing market in the lead-up to the Great Recession, igniting some fears that the unprecedented sanction poses a new set of risks for the Frankfurt-based bank and the global financial system. "Brace yourselves. Sooner or later, history repeats itself, and the banks will fail again," Smith School professor Peter Morici says. Read more...

How Wells Fargo Betrayed Its Customers

Smith School finance professor Clifford Rossi says fraud allegations against Wells Fargo represent a failure across the board to identify and address a culture that emboldened "employees to elevate wrongdoing and risky activities without fear of retribution." Rather than facing discipline, some employees received bonuses after inflating sales numbers by secretly opening millions of fake accounts for customers without their permission. Read more...

Why Bank Reform Is Just Election Posturing

Democrats and Republicans are calling to reinstate a version of the Glass-Steagall Act, which from 1933 to 1999 separated investment banking (underwriting, issuing and distributing financial instruments like stocks and bonds) from commercial banking (deposit-taking and lending) activities. Are legislators about to break up the big banks? Don't count on it, say professors Cliff Rossi and Phillip L. Swagel at the University of Maryland. Read more...

Why Banks Remain Too Big to Fail

Told big bank failure would trigger a flood of bankruptcies and economic calamity, U.S. taxpayers collectively paid billions of dollars to bail out large institutions from the 2008 financial crisis. Despite passing Dodd-Frank legislation to mitigate a future bailout, Congress is on the verge of amending the U.S. bankruptcy code to make bankruptcy feasible for larger banks — more so than when Lehman Brothers’s 2008 bankruptcy filing ignited widespread panic. Smith School professor Clifford Rossi explains why things don't seem to be getting better. Read more...

Summertime Real Estate Tips

School ends Monday for children in Prince George’s County. Summer vacation already has started for students in other parts of the country, which means that families looking to relocate between academic years need to switch into high gear. Clifford Rossi, a mortgage risk expert at the Smith School, shares three tips for buyers and sellers in the seasonal real estate market. Read more...

ABA, University of Maryland Partner to Launch Enterprise Risk Management Advanced Professional Development Program

WASHINGTON — The American Bankers Association and the University of Maryland’s Robert H. Smith School of Business have collaborated to present Enterprise Risk Management, a new advanced professional development program designed for senior risk management professionals across the banking industry. Registration is now open for the five-day program, which will be held Oct. 31 – Nov. 4, in Washington, D.C.

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