Clifford Rossi

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 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.

Good and Bad News About Your House

Median home prices have surged past the U.S. record set in 2006 at the peak of the real estate bubble, but don’t expect a repeat of the Great Recession. Instead, Smith School professor Cliff Rossi expects an eventual market slowdown driven by a mixture of negative and positive factors. “Home prices at a national level are not anywhere near to cratering like they did back in 2007, 2008 and beyond,” Rossi says. He shares the following good and bad news that homebuyers and sellers should consider. Read more...

Bankers' Catch-22: Lending to People Lacking Credit Histories

Borrowers live or die by their FICO scores — numbers that offer a snapshot of how reliable they've been in paying back their debts. But some 53 million Americans don't have such scores because their credit history is thin or nonexistent. Now the Fair Isaac Corporation (aka FICO), is testing a new measure that would open up credit to many of these people. Smith professors Cliff Rossi and Siva Viswanathan offer insights. Read more...

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