Financial institutions across the spectrum, whether it be banks, credit unions, or wealth management firms, are beginning to face expense management challenges that threatens their survival. Various headlines paint a sobering picture: “Moody’s Cut’s Ratings of 10 US banks and puts some big names on downgrade watch“ “ Credit card delinquencies surged in 2023, […]
Patrick Swain
For over 27 years, Patrick Swain has led large-scale operations and analytics teams at the top US banks in loan and deposit spaces. He is a proven cultural and business process transformation leader and has driven profound innovation in system development, team leadership, customer engagement, and net loss improvement.
Blogs from this Author
Decoding the CFPB’s Crackdown on “Junk Fees”: A Changing Climate
The Consumer Financial Protection Bureau (CFPB) has narrowed its focus on what it terms “junk fees” targeting financial industry practices. Understanding the CFPB’s recurrent theme and deciphering its message from the recent press releases provides insights into potential enforcement actions over the next 12-24 months and how banks can reassess their current fee structures. Failure […]
An Industry Wake-Up Call: The CFPB’s Impact on the Medical Debt Collection Space
In recent years, the Consumer Financial Protection Bureau (CFPB) has significantly broadened its oversight, extending beyond major banks to address concerns in various industries, such as payday loan providers, credit reporting agencies, and most recently, the medical debt collection sector. The CFPB’s Dynamic Approach The CFPB’s modus operandi often involves proactively addressing potential issues through […]
Student Loan Repayment Challenges
In March 2020, the student loan forgiveness program was initiated, providing relief to many borrowers. However, in October 2023, loan payments resumed, presenting new financial challenges. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations. Borrowers now confront the daunting prospect of resuming […]