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The “new normal" of consumer behavior

What does the “new normal” of consumer behavior look like in the wake of the economic crisis, and what are the effects on consumer credit risk?  It’s a subject I was invited to discuss by the Kellogg School of Management at Northwestern University at their recent Risk Summit.  Other speakers included execs from Cap One and Discover.

The topics we discussed included the phenomenon of strategic defaults (and how banks can get a handle on this problem); the need to understand your customer better; and the role of data, analytics and business expertise as banks begin to once again loosen credit risk in their lending portfolios.  It was a great conference that sparked some lively debate. Take a look at the brief article the folks at Kellogg have published on their website that summarizes the event. They even posted a short video interview with yours truly.

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