Many Maryland homeowners are increasingly faced with the threat of costly home repairs from extreme weather events. With climate change, these events are becoming more frequent and more intense. And that could mean bigger problems for homeowners – particularly those who don’t have the extra cash to handle repairs.

Federal Reserve economists predicting a mild recession as a result of the recent banking crisis has drawn varied and incisive responses from finance experts at the University of Maryland’s Robert H. Smith School of Business.

The onset of COVID-19 upended economies worldwide. In the U.S., employment fell by a combined 21.7 million between January and April 2020. 

The collapse of Silicon Valley Bank is the second largest bank failure in U.S. history. SVB was taken over by the FDIC last Friday after depositors, fearing the bank would soon be unable to pay its debts, began withdrawing their money at an alarming rate.  Smith experts Cliff Rossi and Bill Longbrake recently spoke with Progyan Basu, clinical professor of Accounting and Information Assurance, about the impact of this failure on the banking industry and the economy as a whole.

Health safety for residents following the Feb. 3 Norfolk Southern train derailment in East Palestine, Ohio, has been a top concern. Has it really been safe enough to return – both for the short- and long-term?

In the six years since TJ Ademiluyi earned his bachelor’s in finance at Smith, he’s achieved something it takes some people decades to do — and many never reach it. He co-founded a business that’s become a multi-million dollar company.

In the fourth quarter of last year, the number of Americans paying $1,000 a month or more for a vehicle hit a record high of 15.7%. Today roughly two out of 13 people have committed themselves to these payments. And many of them are doing it after trading in cars they’re underwater on – owing more on them than they’re worth. That negative equity gets rolled into the purchase of the new vehicle.

Treasury payments towards the interest on the debt represent the federal government’s largest spending increase so far this year. As the Wall Street Journal reports, it’s contributing to a deficit for the first four months of this fiscal year that has widened to $460 billion, up 78% from $259 billion in the same four months of last fiscal year.

“If I were advising, I would think that it would be unwise for South Africa to conduct this exercise, especially in the vicinity of the anniversary.” That’s University of Maryland Robert H. Smith School of Business William E. Mayer Chair Professor of Finance, Lemma Senbet reacting to South Africa’s participation in naval exercises with Russia and China.

The Federal Reserve Board has engaged six of the biggest U.S. banks in a pilot Climate Scenario Analysis (CSA) to assess and “advance the ability of supervisors and banks to analyze and manage emerging climate-related financial risks.”