Card Act: Impact on the US Credit Card Market

Duration: 60 Minutes
Eight years ago, the Card Act was signed into law ushering in a new era of prescriptive controls over credit card issuers in the United States. In this webinar, we provide a primer on the main tenets of the rules and look at how the market has changed in response to these regulations. We will consider its impact on the issuing market in the areas of promotional rates, fee structures, marketing and new product constructs that have emerged post-regulation. Finally, we'll review learning's from the CFPB's published research.
Credit Card Act
Instructor: Patricia Hewitt
Product ID: 509793
Objectives of the Presentation
  • An understanding of the main tenets of the Card Act
  • Key credit card market trends resulting from impact of Card Act
  • Knowledge of CFPB's research and consumer tools
  • Trends in credit card issuers rate strategies and account promotions
  • Learning about the unintended consequences of the Card Act
  • How access to credit has changed post-regulation
Why Should you Attend
The Card Act placed the first significant constraints on the issuing market since the early days of regulatory control over credit card accounts. As such, its initial impact caused the market to contract at a time when the credit card market was also depressed by the Great Recession. Eight years later, the credit card market has revived and is thriving, but is not the same environment pre-Card Act. Product designers have to take a longer view of their account lifecycle when designing rate structures. Age and income controls have to be considered and incorporated into workflows and consumers have found a new voice through the CFPB's data-intensive approach to regulations. These factors and others that will be discussed during this webinar will provide participants with important learning's to take back to their credit card issuing and market support organizations.

Areas Covered
  • Card Act rules and governance
  • Impact analysis of Card Act on US market
  • Trends in credit card account acquisition
  • Trends in credit card pricing and fee structures
  • Promotional programs designed for credit card accounts
  • Credit card market dynamics in the US
Who will Benefit
  • Credit card product managers
  • Credit card portfolio managers
  • Compliance managers
  • Third party credit card issuers and processors
  • Private label credit card issuers
  • Financial institution issuers
  • Credit card marketers
  • Credit card account call centers
$300
Recorded Session for one participant
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Instructor Profile:
Patricia (Patti) Hewitt is the CEO of PG Research & Advisory Services and a widely recognized expert and strategic advisor to the financial services industry. She has worked extensively with companies and organizations across the market spectrum, from global card networks to emerging technology entrepreneurs providing strategic advice and subject matter expertise relating to financial services market dynamics, business model change management, and identifying inflection points within the industry's value chain.

Her proven ability to put change into context, allows her to provide expert services in the areas of market transformation, change management, competitive positioning and rationalizing new products, services and technologies into strategic go-to-market plans.

Her professional background includes holding executive positions at SunTrust Bank (formerly Sun Bank), PaySys International (owned by First Data) and Fiserv. Most recently, Patti was Vice President and Managing Director of Consulting Services for Mercator Advisory Group where she was responsible for all custom research and global consulting work for the firm.
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