News and Updates | criskadvisors

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Jun 4
2 min

Economic Impacts of a Moratorium on Consumer Credit Reporting

Two bills introduced in Congress, H.R. 6370 and S. 3508, ‘‘Disaster Protection for Workers’ Credit Act of 2020’’ would impose a moratoriu...

Risk Management Reflections and Lessons for the Future

Clifford Rossi

Sep 27, 2019
1 min

Risk Management Reflections and Lessons for the Future

Post-crisis progress has clearly been made, but there is still much work to be done to steer clear of subsequent financial disasters. Wha...

Comprehensive Reform Is Needed to Reduce Mortgage Risk

Clifford Rossi

Aug 19, 2019
1 min

Comprehensive Reform Is Needed to Reduce Mortgage Risk

There are proposals on the table to reprivatize and recapitalize Fannie Mae and Freddie Mac, but such a restructuring would not be signif...

Will Shadow Banking Cause the Next Financial Crisis?

Clifford Rossi

Jul 19, 2019
1 min

Will Shadow Banking Cause the Next Financial Crisis?

Complicated by the recent entrance of Facebook, the opaque, poorly-regulated nonbank financing market could eventually threaten global fi...

Facebook’s cryptocurrency ratchets up pressure on banks, but has big risks

Lucas Mearian

Jun 20, 2019
1 min

Facebook’s cryptocurrency ratchets up pressure on banks, but has big risks

Facebook's announcement that it would launch a cryptocurrency called Libra ratchets up the pressure on commercial banks, at a time when t...

How to Better Understand and Manage Natural Disaster Risks

Clifford Rossi

Jun 14, 2019
1 min

How to Better Understand and Manage Natural Disaster Risks

Extreme-weather events are on the rise, and financial institutions must account for them in their loan portfolios. What’s the real impact...

How to Prevent Another Crisis: Mitigating the Risk of Nonbank Mortgage Lenders and Servicers

Clifford Rossi

May 9, 2019
1 min

How to Prevent Another Crisis: Mitigating the Risk of Nonbank Mortgage Lenders and Servicers

When the next major downturn occurs, will the industry be stable enough to survive? That could depend on risk management and regulatory i...

Mortgage Risk: Why We Should Eliminate the Debt-to-Income Ratio Limit

Clifford Rossi

Apr 19, 2019
1 min

Mortgage Risk: Why We Should Eliminate the Debt-to-Income Ratio Limit

The current DTI rule for qualified mortgages is too restrictive and should be abandoned in favor of more reasonable underwriting standards.

How to Reduce Risk from Credit Reporting Companies

Clifford Rossi

Mar 15, 2019
1 min

How to Reduce Risk from Credit Reporting Companies

U.S. credit reporting agencies are currently plagued by risk management deficiencies and inadequate regulatory oversight. What steps can ...

Wells Fargo CEO to Appear Before Congress on Tuesday

Clifford Rossi

Mar 12, 2019
1 min

Wells Fargo CEO to Appear Before Congress on Tuesday

Tim Sloan, CEO of Wells Fargo testified before Congress today on their progress dealing with a number of consumer account scandals plagui...

Risk Management Lessons from the Wells Fargo Report

Clifford Rossi

Feb 15, 2019
1 min

Risk Management Lessons from the Wells Fargo Report

The bank’s self-analysis of its critical risk deficiencies should serve as a cautionary tale, emphasizing the importance of risk culture,...

Strategic Risk Will Be Front and Center in 2019

Clifford Rossi

Jan 18, 2019
1 min

Strategic Risk Will Be Front and Center in 2019

Global economic stability is currently being threatened by geopolitical risk, climate change and the cyber revolution. What steps can ris...

The FDIC’s Obsession with Brokered Deposits is Misplaced and Outdated

Clifford Rossi

Dec 21, 2018
1 min

The FDIC’s Obsession with Brokered Deposits is Misplaced and Outdated

Instead of adopting rules geared toward eliminating risky bank behavior, the supervisory agency continues to embrace arcane policies that...

Congress’s Faulty Assessment Process of FHA Loan Program Puts Taxpayers at Risk

Clifford Rossi

Nov 30, 2018
1 min

Congress’s Faulty Assessment Process of FHA Loan Program Puts Taxpayers at Risk

More than a decade after the crisis, the risk to the FHA’s Mutual Mortgage Insurance Fund from a major mortgage downturn remains uncertai...

The Collateral Valuation Battle: Will Technological Improvements Actually Lead to Greater Mortgage R

Clifford Rossi

Oct 26, 2018
1 min

The Collateral Valuation Battle: Will Technological Improvements Actually Lead to Greater Mortgage R

Increasingly, so-called automated valuation models are replacing manual appraisals in the mortgage industry. But while AVMs are faster, m...

Credit unions fire back at Elizabeth Warren’s CRA plan

Melissa Angell

Sep 28, 2018
1 min

Credit unions fire back at Elizabeth Warren’s CRA plan

Credit unions are fighting back against Sen. Elizabeth Warren’s proposal to subject them to the Community Reinvestment Act. While it’s n...

How to Avoid the Next Crisis: Motivating Banks to Improve Risk Management

Clifford Rossi

Sep 28, 2018
1 min

How to Avoid the Next Crisis: Motivating Banks to Improve Risk Management

Wells Fargo’s ongoing problems have demonstrated that there are still significant flaws in the so-called CAMELS supervisory rating system...

Reflections on the Financial Crisis: Markets and Regulation Factors

Clifford Rossi

Sep 4, 2018
1 min

Reflections on the Financial Crisis: Markets and Regulation Factors

Opaque credit derivatives, increased shadow banking and ineffective mortgage regulation were among the market conditions that precipitate...

Reflections on the Financial Crisis: Product and Process Factors

Clifford Rossi

Jul 27, 2018
1 min

Reflections on the Financial Crisis: Product and Process Factors

Product morphing and fatal process flaws played an important role in the economic meltdown. How have product risk and process risk evolve...

Reflections on the Financial Crisis: The Governance Factor

Clifford Rossi

Jun 8, 2018
1 min

Reflections on the Financial Crisis: The Governance Factor

Governance problems played a significant role in the economic catastrophe. What were the most glaring issues, and how much progress have w...

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