Equifax’s Big Little Fine
“It’s a lot of money,” says Maryland Smith’s Clifford Rossi, of the nearly $700 million that credit reporting giant Equifax has agreed to pay over its massive data breach. But far more needs to be done.
Will You Friend Facebook's Cryptocurrency?
Who will “friend” the new Facebook cryptocurrency? Maryland Smith experts weigh in, after the social media giant’s announcement that it would launch a new blockchain-based payment service, called Libra.
Echoes of the Financial Crisis, in Drug Manufacturing
The crisis over tainted heart drugs made in China and sold in the U.S. had an oddly familiar ring to it for Maryland Smith’s Clifford Rossi. But it wasn’t a previous medical drug crisis that crept to mind for him.
Fannie and Freddie Might Need Your Money
Ten years after Fannie Mae and Freddie Mac were placement into conservatorship, the two mortgage-finance giants might soon face a new crisis.
Post-Crisis and Below Average: A Financial Sector Report Card
As the 10-year anniversary of the global economic crisis approaches, Clifford Rossi offers a financial sector report card. "We have absolutely come a long way in many regards," he says. "But in other respects, we've learned nothing."
Here’s What’s Missing From Dodd-Frank Reforms
As Congress reexamines the Dodd-Frank law, the Smith School's Clifford Rossi offers this advice: Draw the credit-reporting agencies into its scope.
A Wells Fargo Sanction, a Warning for Its Peers
For Wells Fargo, the Fed's stringent sanctions last week undoubtedly come as a bit of a blow. For the rest of the banking industry, more of a warning. "This is a supervisory slapdown in a major," says the Smith School's Clifford Rossi.
Why 2018 Could Be Big for Fannie, Freddie
Are these the end of days for Fannie Mae and Freddie Mac? Lawmakers are considering whether to close the chapter on conservatorship for the two government-sponsored enterprises, a move that could bring big changes to housing finance in the United States.
The Rise of the Oft-Misunderstood CRO
When the Smith School's Cliff Rossi was chief risk officer for Citigroup's Consumer Lending Division, few people understood the role. Things have changed since then. Rossi explains the evolution and what's next.
Buying a Home in 2018? What You Should Know
With three or four Fed rate hikes anticipated in 2018, mortgage rates will edge higher. But the borrowing environment will remain favorable, Smith School professor Clifford Rossi says. He takes a look at the housing market as we head into a new year.