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Artwork for Consumer Credit Matters

Consumer Credit Matters

William Black
Tricolor
Bitcoin
Artificial Intelligence
Vantagescore
AD Hennick & Associates
Carvana
Vervent
Debt Collection
Consumer Credit ABS
Backup Servicing
Securitization
FICO
Mortgage
JD Power
Great Financial Crisis
Toronto
Timeshare
Extendable Asset Backed Commercial Paper
Zaria
Slate

Welcome to the Consumer Credit Matters podcast, where we discuss and analyze the world of consumer credit, credit risk and finance.

PublishesMonthlyEpisodes29Founded2 years ago
Number of ListenersCategory
Business

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Artwork for Consumer Credit Matters

Latest Episodes

John Costa spent 40 years in consumer credit and securitization — from E.F. Hutton and the first timeshare ABS deal to building Merrick Bank at CardWorks. He walks through the innovations that worked, the one that didn't survive 2008, and the bank-ch... more

YouTube

Carvana built its brand by killing the dealership. Now it's buying them.

Host William Black sits down with Charlie O'Shea (President, O'Shea Advisors and the analyst who first called Carvana the "Amazon of auto retail") to unpack Carvana's push into... more

YouTube

There's an operational layer underneath consumer credit that most analysts never see: what actually happens to retail inventory when it doesn't sell, when a retailer goes bankrupt, or when a brand orders too much for the wrong season. Someone has to ... more

YouTube

Bonnie Seideman has spent thirty years inside the machinery of consumer credit — from subprime auto in 1990s Dallas to running capital markets at Capital One, Santander, GE Capital, and Synchrony.

In this episode of Consumer Credit Matters, Bonnie w... more

YouTube

The First Investment-Grade Bitcoin-Backed ABS — How Ledn Did ItIn February 2026, launched a groundbreaking $200 million Bitcoin-collateralized loan ABS, rated BBB- by S&P Global — the first investment-grade rating ever assigned to a Bitcoin-backed se... more

YouTube

Brian Terr, who heads JD Power's Inventory Data Sales unit, joins Consumer Credit Matters to unpack how dealer inventory data intersects with auto finance, floorplan lending, and collateral accuracy.

In this episode, we explore why tracking what is ... more

Collections is often discussed from the consumer angle. In this episode, Will Black goes inside the collector side of the business with John Bedard (Bedard Law Group), who advises debt collectors, debt buyers, and creditors on compliance, regulation,... more

YouTube

Mortgage credit scoring is entering a new competitive phase—raising practical questions for originators, aggregators, guarantors, and RMBS investors about calibration, comparability, and workflow adoption.

In this episode, VantageScore leaders, Rik... more

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Recent Guests

John Costa
Former Senior Vice President of CardWorks; veteran in credit risk, securitization, and banking strategy
CardWorks (Merrick Bank); author
Episode: 40 Years in ABS with John Costa: Monolines, Timeshare, Extendable ABCP & Bank Charters
Alex Hennick
Founder of AD Hennick & Associates, Toronto-based firm operating globally in inventory liquidation and management
AD Hennick & Associates
Episode: When Retailers Can't Move the Goods
Bonnie Seideman
Former securitization executive with deep experience in credit card and auto ABS; led capital markets activities at major institutions
Capital One (and other firms mentioned); later involved with ALS advocacy
Episode: Consumer ABS: Built, Broken, Rebuilt — with Bonnie Seideman
Adam Reeds
CEO and co-founder of Ledn
Ledn
Episode: Bitcoin Meets Structured Finance: Breaking Down Ledn's BBB- Rated ABS | E26
Brian Terr
Head of Inventory, JD Power
JD Power
Episode: How JD Power Tracks Auto Inventory
John Bedard
Attorney at Bedard Law Group
Bedard Law Group
Episode: Collections 2026: An Insider's View
Rikard Bandebo
Chief Economist at VantageScore
VantageScore
Episode: VantageScore Challenges FICO
Tony Hutchinson
Head of Public Affairs at VantageScore
VantageScore
Episode: VantageScore Challenges FICO
Charlie O'Shea
Retail analyst
Episode: Big-Box Holiday Outlook

Host

William Black
Host of Consumer Credit Matters; the show often centers on credit risk, securitization, and market dynamics with industry veteran insights.

Talking Points

Recent interactions between the hosts and their guests.

E20 The Tricolor Collapse: Vervent's Inside View as Successor Servicer
Q: How did you handle vendor relationships and unpaid vendors during the transition?
We identified critical vendors, negotiated with the trustee and warehouse lenders, and took measures to ensure core services (titles, insurance, payment processing) remained active even as vendors were unpaid, recognizing that those relationships were essential to the integrity of the servicing ecosystem.
E20 The Tricolor Collapse: Vervent's Inside View as Successor Servicer
Q: What were the biggest immediate operational challenges after taking over?
Key challenges included taking control of records (both physical and digital), counting and locating collateral, ensuring vendor support with large arrearages, and coordinating with trustees and regulators to validate the data and processes needed to service the pool.
E20 The Tricolor Collapse: Vervent's Inside View as Successor Servicer
Q: How quickly did you have to mobilize once you were designated successor servicer, and what were the first steps?
We moved fast, with crisis teams deployed within a day, access to loan servicing platforms secured within 17 days, and a focus on keeping payment rails functioning while we verified data and started communications with borrowers.
Inside Crypto Lending: Risk, Servicing, and Securitization with Emily Barron of Zaria | E21
Q: Can you explain how Zaria's four products fit into the crypto-backed lending lifecycle?
Zaria provides primary servicing, backup servicing, administrative agent services, and key management. Primary servicing handles ongoing borrower interactions and payments, backup servicing ensures a hot, instant takeover capability for the entire process, administrative agent services manage collateral verification and calculation/paying agents, and key management covers secure wallet access and multi-signature arrangements.
Bitcoin Meets Structured Finance: Breaking Down Ledn's BBB- Rated ABS | E26
Q: What role did rating agencies and price oracles play in getting the BBB- rating and investor confidence?
S&P Global conducted a thorough diligence process, ultimately relying on Ledn's price oracles and a publicly credible framework for liquidity pricing. The team demonstrated tight, market-based pricing by aggregating prices from major venues and showing historical liquidity and liquidations performance. This, together with the backing of reputable custodians and service providers, helped achieve the BBB- rating and broadened the investor base.

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Frequently Asked Questions About Consumer Credit Matters

What is Consumer Credit Matters about and what kind of topics does it cover?

The show centers on consumer credit, risk, and finance, featuring expert guests who discuss securitization, back-end servicing, inventory management, and credit scoring innovations. Episodes frequently tackle regulatory developments, crisis responses, and technology-driven improvements in collateral tracking, data analytics, and risk management. Notable strengths include deep dives into high-stakes case studies (e.g., Tricolor), a mix of practitioner insights from banks, rating agencies, and fintechs, and a willingness to explore both historical context and forward-looking solutions. Listeners can expect rigorous, industry-focused conversations that blend technical detail with real-world implications for lenders, servicers, regulators, and ... more

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Which podcasts are similar to Consumer Credit Matters?

These podcasts share a similar audience with Consumer Credit Matters:

1. The Credit Edge by Bloomberg Intelligence
2. Odd Lots
3. All-In with Chamath, Jason, Sacks & Friedberg
4. The Markets
5. GoodFellows: Conversations on Economics, History & Geopolitics

How many episodes of Consumer Credit Matters are there?

Consumer Credit Matters launched 2 years ago and published 29 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Consumer Credit Matters?

Recent guests on Consumer Credit Matters include:

1. John Costa
2. Alex Hennick
3. Bonnie Seideman
4. Adam Reeds
5. Brian Terr
6. John Bedard
7. Rikard Bandebo
8. Tony Hutchinson

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