TransUnion: Extra Credit: Recent Episodes
TransUnion
Once a month, our card and banking leaders ditch their meetings for microphones to share buzzword-heavy predictions, recent market developments and pressing trends in the U.S. financial industry.
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The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liability for any actions taken based upon the content of this podcast.
TransUnion Head of US Government Relations, Allison Shuster, returns to Extra Credit this month to discuss the political and legislative activities currently impacting the US financial services industry. Craig and Allison start by discussing the proposed Fair Credit Reporting Act (FCRA) rulemaking process expected to take place later in 2023, whether government partisanship is as challenging as it’s portrayed in the media, and how legislators are turning to the private sector to help inform policy decisions. Next Josh and Allison talk about the major focus areas for regulators that might not be as headline-grabbing, including a politically-stalled federal privacy standard and AI governance concerns cropping up in both the Senate and Congress. Finally, Josh asks Allison how the upcoming presidential election cycle will impact the pace of legislation; they discuss how states are looking at the use and treatment of medical debt on the credit file; and Allison urges listeners to pay attention to the uptick in agency activity (particularly from the CFPB and FHFA) within the housing market. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
Joining Craig and Josh this month is Melissa Koide, Founder and CEO of FinRegLab — a nonprofit organization that tests and researches technology to help inform public policy and advance financial inclusion. Melissa touches on some of FinRegLab’s key initiatives, including the use of cashflow data to predict credit risk and assess populations with limited or no credit history; new research the organization is doing on machine learning algorithms being used in financial services; and a partnership with Kenya’s government, banks and bureaus to determine the optimal data insights needed for credit risk assessing women-owned small businesses. The group also discusses regulatory uncertainties keeping the financial industry from wider adoption of new types of data, and muses over the laws and regulations that could one day surround artificial intelligence and platforms like ChatGPT. Finally, Josh tests Melissa’s Kentucky knowledge with some light trivia about her hometown. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
The credit card market is the focus when Craig and Josh sit down with Bill Bostwick, Senior Vice President and Head of Atlanticus’ card division. A veteran leader in the card space, Bill brings deep experience to his role as he partners with banks, retail and healthcare organizations to help the financially underserved manage their financial well-being. This conversation discusses upcoming challenges in the card market, and explores how the industry can address potential obstacles — for both issuers and consumers — as the economy continues to evolve. Reflecting on recent trends and what they foretell, Bill shares valuable insights on market dynamics and whether issuers are prepared to manage through a downturn. He talks about different ways to use data, and suggests the rising importance of alternative data — especially as consumers consider alternate financial solutions as inflationary pressures start to hit. He also covers consumer performance and support, including the need for better and more widespread financial education. Plus, Craig challenges Bill on the gridiron with hard-hitting trivia questions about his favorite NFL team, the Chicago Bears. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
To gain perspective on where our economy stands and where it’s headed, we’re delighted to welcome Ryan Boyle to this month’s podcast. A macroeconomist at Northern Trust — and TransUnion alumnus — Ryan brings deep knowledge and practical insight on multiple forces at play, giving us a better understanding of what’s actually happening and how. In this episode, Josh and Craig ask Ryan about the current state of the US economy and how it fits within the global context. Ryan shares his perspectives on labor and employment trends, supply chain issues, inflation — and the implications for consumer lending. He adds context to today’s dynamics by looking back at how previous global events affected the US economy. He also shares his longer-term concerns for future economic impacts. Plus, Josh tests Ryan’s memories of his days at University of Chicago with trivia questions about distinguished alumni, campus life and more. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
We’re thrilled to welcome guest Rahul Gupta to this month’s podcast! Having worked in financial tech, banking and payments spaces since the 90s, Rahul brings a wealth of information and insight to the table — and has many thoughts on what card lenders should expect in the coming decade. In this episode, Craig asks Rahul how new developments in the payments space could impact card lenders — which leads to the group discussing whether Payment-as-a-Service (PaaS) might become an expansion of card wholesale for vertical-based lenders. Rahul alludes to a technology revolution in which all industries eventually offer embedded payments options — from ecommerce to healthcare to B2B. Then, Josh asks Rahul how technology stacks and services will change for financial institutions (FIs) over the next 5–10 years, and Rahul weighs in on questions around specialization regional banks and credit unions should be asking themselves. Plus, Josh quizzes Rahul on California-related trivia, and Rahul offers advice to those still in the first half of their careers. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
TransUnion’s Jason Laky (Executive VP of Financial Services) joins this month’s episode to discuss the state of the financial services industry — now that we’re just over halfway through 2022. Craig and Josh inquire about consumer credit health, which Jason says is in very good shape despite a turbulent economy. Jason looks back on some industry predictions he made earlier in the year, including those regarding auto and mortgage markets, and supply and demand of consumer credit cards. Then, Craig and Josh open the floor to discuss risks and opportunities for lenders across various financial products; and Jason discusses the likelihood of a recession. Plus, Craig quizzes Jason on Dallas Cowboys trivia and international hockey standings; Jason shares his expert recommendation of the most underrated city in Europe; and explains how he’s teaching his college-aged kids about the stock market. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
TransUnion’s Rachel Goldberg (Global Head of External Affairs) and Allison Shuster (Head of U.S. Government Relations) join the podcast this month to discuss US policy initiatives affecting the financial services industry, as well as the current regulatory landscape in Washington D.C. In this episode, our guests touch on the debate regarding a federal privacy standard and how difficult it’s been for legislation to pass at a federal level. Allison weighs in on possible regulatory impacts should control of the legislative branches shift during the midterms; Rachel shares her thoughts around financial inclusion efforts from the Biden administration; and there’s discussion on how inflation strains are affecting policy decisions. Plus, Josh is curious about Rachel’s view on policymaking re: financial institutions sharing consumer data; Allison discusses privacy initiatives at the local level; and Craig and Josh test Rachel’s and Allison’s knowledge of sports and restaurants in the D.C. area. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
This month, we’re seeing double with two guests and two episodes! Joining Craig and Josh are Karen Andres (Director of Policy and Market Solutions and Project Director of the Retirement Savings Initiative at the Aspen Institute Financial Security Program) and Josh Sledge (Senior Director of Incubation at the Filene Research Institute, a “think and do tank” in the credit union space). In part two of this month’s episode, Craig asks Karen and Josh S. to offer opinions on the government’s role in regulating financial products. They also discuss the importance of truly understanding consumer outcomes. Our guests then think back on financial products that never quite took off, as well as small ideas that turned into something much bigger. Finally, host Josh finally learns about the origination of the 401k, and Karen and Josh S. talk about exposing their kids to financial concepts from a young age. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
This month, we’re seeing double with two guests and two episodes! Joining Craig and Josh are Karen Andres (Director of Policy and Market Solutions and Project Director of the Retirement Savings Initiative at the Aspen Institute Financial Security Program) and Josh Sledge (Senior Director of Incubation at the Filene Research Institute, a “think and do tank” in the credit union space). In part one, Karen and Josh S. explore how the approach to financial inclusion has evolved over the decade — specifically regarding the role of financial institutions. Karen discusses the Aspen Institute’s recent call for the Biden administration to establish a presidential council on financial inclusion, and Josh S. talks about Filene’s recent focus on providing credit unions with tools to improve members’ financial health. Plus, our hosts try to stump Karen and Josh S. with Michiganian trivia, and everyone gets derailed talking about subscriptions from Taco Bell. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
Jason Mikula is on the podcast this month! Having spent more than decade building and scaling consumer finance businesses — including Enova, LendUp and Goldman Sachs — Jason is now the publisher of the Fintech Business Weekly newsletter and an advisor for early stage startups. In this episode, Jason shares the FinTech trends he believes are overhyped, and argues that creditors and lenders aren’t paying enough attention to the rapidly changing payments universe. He offers his perspective on cryptocurrency and the US regulatory environment, and he, Craig and Josh discuss measures lenders can take as the credit card market becomes increasingly saturated. Plus, Jason talks about living in Amsterdam; Craig and Josh quiz him on Dutch trivia; and Craig is particularly disappointed to find out Jason doesn’t own a single pair of wooden clogs. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
Susan Ehrlich joins Craig and Josh on the podcast this month, drawing on a wealth of industry experience at incumbent banks, neobanks, large credit card lenders, and more — including running Amazon’s global credit card program, serving as CEO of Earnest, and now sitting on the boards for BECU, Petal and Arrived Homes. In the episode, Susan shares her excitement for how companies are expanding access to consumers across the credit spectrum. They discuss the legacy tech challenges traditional FIs and credit card lenders are facing, implications of the banking industry moving to the cloud, and what credit unions and smaller banks can do to differentiate from FinTechs. Susan also reveals her favorite golf course, the round that still haunts her today, what it was like playing with Rory McIlroy in a pro-am — and her love of volunteering in San Francisco’s election polls. For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
This month, Craig and Josh are joined by Jim Block, COO and Executive VP at BCU — a large, Chicago-based credit union serving members across the US. After asking Jim to weigh in on their prediction around trended credit scores, Craig and Josh inquire about how BCU leverages and balances trended credit data, as well as the credit union’s focus on financial inclusion. Craig and Josh then quiz Jim on some credit union history, and Jim shares an update on the giant foam wedge that once lived in his basement. — For questions or to suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
A top 50 credit union wants to grow its card program but is having trouble deciding whether to maintain its ‘credit union marketing philosophy’ or pivot its strategy to resemble that of a bigger bank. Hear Craig and Josh answer this listener’s question — and others — in this month’s Q&A. — To ask a question or suggest an episode topic, please email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liability for any actions taken based upon the content of this podcast. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
Looking ahead in 2022, TransUnion’s Craig and Josh discuss the trends and developments within four key areas of card and banking: Consumer economic health and behavior Significant government and regulatory trends Competitive developments External influences 5. From there, they make their predictions — covering everything from inflation levels and origination numbers to credit unions and reengineered checking accounts. They even commit the cardinal sin of mentioning religion and politics… but Craig was too busy thinking about Scotch to notice. — For questions or to suggest an episode topic, email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.
In the inaugural episode of Extra Credit, TransUnion's Craig LaChapelle and Josh Turnbull look back on how the card and banking industry fared in 2021. Several questions were discussed, including: What were the dynamics of consumer demand, and how did ongoing effects of the pandemic impact consumer balances and liquidity? What did we learn about Buy Now, Pay Later consumers? How did Gen Z’s growing involvement in the credit market compare to preceding generations? Featuring guest Paul Siegfried, Head of Card and Banking at TransUnion. — For questions or to suggest an episode topic, email ExtraCredit@transunion.com. The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.