The Financial Column — The Customer Management Imperative

2009-06-29

Future of the Credit Card Industry is in Smart Customer Management

Alan Mattei, a Partner of Novantas LLC, said on “The CEO Show,” “The biggest impact is due to the change in the consumer’s attitude about debt. For most people, debt was a serious ethical and legal obligation. Bankruptcy law and credit scores made it difficult to walk away from your debt. But today, more consumers are viewing debt repayment as a discretionary expense. And legislation is making it easier for consumers to default with near impunity.”

Mattei spoke on the syndicated radio program, “The CEO Show” with host Robert Reiss during a segment of the program dedicated to the discussion of challenges facing U.S. Credit card issuers about to function in an environment now dictated by the recently enacted credit card reform legislation.

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