Heather Allen is an attorney in the 

FTC’s Division of Financial Practices. She 

works on a variety of consumer credit and 

financial services issues, including debt 

buying, mobile cramming, mortgage 

servicing, and automobile sales and 

financing. She was a primary contributor to 

the FTC’s report entitled The Structure and 

Practices of the Debt Buying Industry (2013). 

Before joining the FTC in 2008, Ms. Allen 

was a litigation associate at Baker Botts 

LLP in Washington, DC. She is a graduate 

of the University of Maryland and Stanford 

Law School.

Steven Antonakes is the acting 

deputy director of the CFPB. He first joined 

the CFPB in November 2010 as the assistant 

director of large bank supervision and was 

named the associate director for supervision, 

enforcement, and fair lending in June 

2012. Mr. Antonakes began his professional 

career as an entry-level bank examiner 

with the Commonwealth of Massachusetts 

Division of Banks in 1990. He served in 

numerous managerial capacities before 

being appointed by successive governors 

to serve as the commissioner of banks 

from December 2003 until November 2010, 

becoming only the second career bank 

examiner to ever serve in that capacity. 

In addition, he served as the first state 

voting member of the Federal Financial 

Institutions Examination Council (FFIEC), 

as the vice chairman of the Conference 

of State Bank Supervisors (CSBS), and as a 

founding member of the governing board 

of the Nationwide Mortgage Licensing 

System (NMLS). Mr. Antonakes also received 

NeighborWorks America’s Government 

Service Award for his work in combatting 

foreclosures in March 2007. Mr. Antonakes 

received a BA from Penn State University, 

an MBA from Salem State University, and a 

Doctorate of Philosophy in Law and Public 

Policy from Northeastern University.

Chad Benson is the president and 

chief operating officer of CBE Group. 

Mr. Benson is responsible for leading the 

Bios

Data Integrity in Debt Collection

An FTC-CFPB roundtable 
2

execution of the strategic corporate 

objectives for CBE Companies and its 

subsidiaries. During his five-year tenure at 

CBE, Mr. Benson has been instrumental 

in directing the company’s focus on the 

deepest understanding of its customers’ 

business and regulatory landscape, as 

well as developing innovative solutions 

that solve business challenges, mitigate 

risk, and protect consumers. Prior to 

joining CBE, Mr. Benson served as senior 

director for Capital One for nine years, 

managing a $375 million division of US Card 

Recoveries. Prior to Capital One, Mr. Benson 

held multiple operations and marketing 

positions with Gateway Computer during 

his ten-year tenure with the company. 

Mr. Benson graduated from Morningside 

College in 1989.

Brandon Black has served for the 

past nine years as the president and chief 

executive officer of Encore Capital Group, 

Inc. Encore is a leading provider of debt 

management and recovery solutions for 

consumers and property owners across 

a broad range of financial assets. During 

Mr. Black’s tenure, the company expanded 

into new asset classes, made acquisitions, 

and built significant cost and operational 

advantages that established Encore as the 

industry’s leading debt management and 

recovery solutions provider. Under Mr. Black’s 

leadership, Encore in 2010 adopted the 

industry’s first Consumer Bill of Rights, 

detailing the company’s commitment to 

treating consumers with respect and in ways 

that support their financial recovery. He has 

also served in executive roles at Capital One 

and First Data Resources. Mr. Black earned 

an MBA from the University of Richmond and 

a bachelor’s degree from The College of 

William and Mary.

Julie Brill has been a commissioner of 

the Federal Trade Commission since April 

2010. Since joining the FTC, Commissioner 

Brill has worked actively on issues of critical 

importance to today’s consumers, including 

protecting consumers’ privacy, encouraging 

appropriate advertising substantiation, 

guarding consumers from financial fraud, 

and maintaining competition in industries 

involving high tech and health care. 

Commissioner Brill advocates improving 

regulations and enforcement involving 

credit reporting, debt collection, and in 

other financial areas. She strongly supports 

increased cooperation among the FTC, the 

CFPB, and the States as they implement 

the provisions of the 2010 Dodd-Frank Wall 

Street Reform and Consumer Protection Act. 

Before joining the FTC, Commissioner Brill was 

the senior deputy attorney general and chief 

of consumer protection and antitrust for the 

North Carolina Department of Justice, a 

position she held from February 2009 to April 

2010. Prior to her move to the North Carolina 

Department of Justice, Commissioner 

Brill was an assistant attorney general for 

consumer protection and antitrust for the 

State of Vermont for over 20 years, from 1988 

to 2009. She has received several national 

awards for her work protecting consumers. 
June 6, 2013

3

Commissioner Brill graduated, magna cum 

laude, from Princeton University, and from 

New York University School of Law.

Lawrence A. Costa is the executive 

vice president of business development 

for Capital Management Services, LP. He 

has held that position for 10 years, during 

which Capital Management Services’ 

revenue has increased from $4 million to $54 

million in annual revenues. Prior to coming 

to CMS, Mr. Costa held vice president 

of sales and marketing positions in the 

telecommunications industry. These positions 

include 10 years with AT&T and 11 years with 

other companies such as Sprint Canada and 

Global Crossing. Mr. Costa has an MBA in 

Finance from Canisius College and has been 

published in the New York Times with his 

views on the collections industry. Mr. Costa 

has also been a panelist at many collection 

industry conferences. He has been 

recognized as the Business First Distinguished 

Sales and Marketing Executive.

Manoj Hastak is a professor in the 

department of marketing at the Kogod 

School of Business, American University, 

Washington D.C. He was chair of the 

marketing department during 2001-2004. 

He has published extensively in scholarly 

marketing journals, including the Journal of 

Consumer Research, Journal of Public Policy 

& Marketing, Journal of Advertising, Journal 

of Business Research, and Psychology & 

Marketing. Over the past twenty years, 

Professor Hastak has served as a research 

consultant to the Federal Trade Commission 

on numerous projects involving disclosures 

and disclaimers, advertising communication, 

deceptive advertising and labeling, and 

research methodology issues. He has also 

served as a consultant for several other 

federal agencies including the Consumer 

Financial Protection Bureau, the U.S. 

Department of Justice, the Food and Drug 

Administration, the Department of Housing 

and Urban Development, and the Bureau of 

Alcohol, Tobacco, and Firearms.

Colin Hector is a staff attorney at the 

Federal Trade Commission, working in the 

Division of Financial Practices. He focuses 

on debt collection, payday lending, and 

emerging technologies. Mr. Hector is a 

graduate of U.C. Santa Cruz and the U.C. 

Berkeley School of Law. As a law student, he 

co-founded a student consumer protection 

group and authored a comment on debt 

collection and communication technologies 

that was published in the California 

Law Review.

Peter Holland is a clinical instructor 

in the Consumer Protection Clinic at the 

University of Maryland Law School. He is the 

author of two articles about debt buyer 

litigation: The One Hundred Billion Dollar 

Problem in Small Claims Court: Robo-Signing 

and Lack of Proof in Debt Buyer Cases; 

and Defending Junk Debt Buyer Lawsuits. 

Prior to teaching, Mr. Holland practiced in 

Annapolis, where he represented consumers 

in cases involving a broad array of consumer 

financial protection claims. Since 2009, he 

has run the Consumer Protection Clinic at 
4

Maryland, where he has trained law students 

and pro bono lawyers how to defend 

lawsuits filed by debt buyers. He is a frequent 

lecturer on the subject of debt buyer 

litigation. He is a member of the National 

Association of Consumer Advocates.

Alice Hrdy serves as the deputy assistant 

director in the CFPB’s Office of Supervision 

Policy. In September 2010, she joined the 

Treasury Department’s CFPB implementation 

team and assisted in the launch of the 

Bureau’s nonbank supervision program. Alice 

currently supervises the supervision program 

in the consumer reporting, collections, and 

student loan servicing markets. She also 

oversees the rulemakings to extend the 

CFPB’s supervisory authority over certain 

nonbank markets. Before coming to the 

CFPB, she served for 16 years at the Federal 

Trade Commission in several positions, 

including as an assistant director in the 

Division of Financial Practices, as an attorney 

advisor to the chairman and the bureau 

director, and as a litigation attorney. She is 

a graduate of Georgetown University Law 

Center and Ohio University.

Bob Hunt is vice president and director 

of the Payment Cards Center at the Federal 

Reserve Bank Philadelphia. Bob became 

director of the center in April 2009. Prior to 

this appointment, he was a senior economist 

in the bank’s Research Department. 

Bob’s research has focused on consumer 

payments, consumer finance, and the 

economics of innovation. His published 

research includes studies of the dynamics 

of the consumer credit reporting industry, 

credit counseling organizations, mortgage 

default, the collections industry, and antitrust 

issues in consumer payment networks. 

He has also published papers on topics 

in economic geography and intellectual 

property. Before joining the Bank in 1998, 

Bob worked for the U.S. Congressional 

Budget Office. Prior to attending graduate 

school, he was an industry risk analyst for 

Bank One, Indianapolis. Bob received a 

Ph.D. in economics from the University of 

Pennsylvania in 1996 and a BA in political 

science and economics from Butler University 

in 1986.

Thomas Kane joined the Commission 

in 1990, where he has served continuously 

as an attorney in the Bureau of Consumer 

Protection’s Division of Financial Practices. 

Much of his enforcement and education 

work at the Commission has focused on the 

Fair Debt Collection Practices Act, Section 

5 of the Federal Trade Commission Act, and 

the Fair Credit Reporting Act. Mr. Kane has 

been a primary contributor to several FTC 

reports, including The Structure and Practices 

of the Debt Buying Industry (2013); Collecting 

Consumer Debts: The Challenges of Change

(2009); and Report to Congress on the Fair 

Credit Reporting Act Dispute Process (2006) 

(a joint report issued by the FTC and the 

Board of Governors of the Federal Reserve 

System). Mr. Kane is a graduate of the 

University of Virginia and the University of 

Maryland School of Law.
June 6, 2013

5

Christopher Koegel is an assistant 

director in the Bureau of Consumer 

Protection’s Division of Financial Practices 

at the Federal Trade Commission. In 

this capacity, Mr. Koegel manages 

enforcement and policy work relating to 

debt collection, mortgage and debt relief 

fraud, and other consumer protection issues 

arising in the financial sector. Mr. Koegel 

joined the FTC in July 2009, and, as a 

lead attorney on a number of matters, 

specialized in debt collection issues. He 

was the primary architect of the FTC’s 

Statement of Enforcement Policy Regarding 

Communications in Connection with 

Collection of a Decedent’s Debt, issued 

in July 2011. He also was lead attorney on 

several federal court cases against payday 

lending and debt collection operations. 

Before joining the FTC, Mr. Koegel worked 

in private practice at Jones Day, and at 

Manatt, Phelps, and Phillips. He received 

his law degree from the University of 

Pennsylvania, and his undergraduate 

degree from the University of North CarolinaChapel Hill.

W. Thomas Lawrie was commissioned 

as an officer in the U.S. Navy after 

graduating from Cornell University and 

served 10 years as a Naval pilot. After 

earning his JD from the University of 

Maryland School of Law, Mr. Lawrie worked 

at the law firm of Evert Weathersby Houff, 

focusing in product liability and toxic tort 

defense litigation. Since 2008, Mr. Lawrie 

has served as an assistant attorney general 

with the State of Maryland, representing 

the commissioner of financial regulation in 

litigation and enforcement matters. He has 

brought major actions against mortgage 

companies, consumer lenders, and 

collection agencies, including national debt 

buyers. Mr. Lawrie has also drafted several 

notable changes to the Maryland Rules that 

were subsequently adopted by the Court of 

Appeals, including recent changes affecting 

collections-related litigation.

Loraine E. Lyons is the senior vice 

president and general counsel for FMA 

Alliance, Ltd., a collection agency located 

in Houston, Texas. Ms. Lyons has been with 

FMA since 1995 and also serves as the 

compliance officer and oversees the quality 

assurance department. Before joining FMA, 

Ms. Lyons maintained a legal program for 

collecting and litigating past due accounts 

for an asset buyer. Ms. Lyons serves as 

a board member for ACA International 

and is an active member of the Texas 

American Collectors Association. A certified 

public accountant, Ms. Lyons holds an 

undergraduate degree from Texas State 

University and received a JD from SMU 

Dedman School of Law in 1992.

Ian B. Lyngklip is a partner at Lyngklip 

& Associates Consumer Law Center PLC. 

Mr. Lyngklip is a former member and 

chairperson of the State Bar of Michigan 

Consumer Law Section Counsel, and a 

past co-chair of the Board of Directors 

of the National Association of Consumer 

Advocates. He regularly provides training 
6

sessions in consumer law around the country, 

which have included participation in 

programs for other consumer advocates, 

legal aid groups, industry, regulatory 

bodies, judges, and legislators. He is the 

recipient of many honors, including the 

Consumer Advocate of the Year Award 

from the National Association of Consumer 

Advocates. He is regularly quoted in 

articles concerning credit reporting 

and debt collection abuse, and has 

appeared in the Wall Street Journal, The

Washington Post, Kiplingers, the Scripps 

Howard News Wire, and the Detroit Free 

Press. His firm maintains its web site at 

www.MichiganConsumerLaw.Com. He 

graduated from the University of Michigan, 

Ann Arbor in 1987 and the University of 

Detroit School of Law in 1992.

Karen J. Meyers is an assistant 

attorney general and director of the 

Consumer Protection Division for the Office 

of the New Mexico Attorney General Gary 

King (2007 to the present). Ms. Meyers 

graduated from Northeastern University Law 

School in 1978. She served as a Reginald 

Heber Smith Fellow and legal services 

attorney in Kentucky from 1979 to 1981 and 

as a legal services staff attorney from 1981 

to 1984. She was the executive director 

of the Legal Aid Society of Albuquerque 

in New Mexico from 1984 to 1997. After 

leaving legal services, she represented 

plaintiffs in civil rights and personal injury 

litigation for 10 years. She has taught as an 

adjunct professor at the University of New 

Mexico School of Law. Ms. Meyers serves as 

a New Mexico Supreme Court appointee 

to the New Mexico Commission for Legal 

Services and frequently presents on issues of 

consumer protection and access to justice.

Richard Munroe is the president of 

Capital Financial Group, Inc. (“CFG”), a 

consumer debt buyer that provides scoring 

analysis, legal modeling, acquisition, and 

selling services to various issuers in the 

financial services and collections industry. 

Before founding CFG, Mr. Munroe served 

as vice president of acquisition and sales 

for Outsourcing Solutions, Inc. (OSI) and 

handled the acquisition process, sourcing, 

due diligence, and sales process for debt 

portfolios in several different asset classes. 

Mr. Munroe is a frequent speaker at industry 

events and has been an active member of 

DBA International, and is currently serving 

on the DBA Board of Directors as President. 

DBA is a nonprofit trade association that 

represents the interests of companies that 

acquire distressed asset portfolios in the 

secondary market. DBA promotes uniform 

industry standards of best practices through 

the newly launched Debt Buyer Certification 

Program and through a code of conduct.

Bevin Murphy is an attorney in the 

Northeast Regional Office of the Federal 

Trade Commission. She previously served 

as a counsel to the director of the FTC’s 

Bureau of Consumer Protection, and as an 

attorney in the FTC’s Division of Financial 

Practices. Ms. Murphy has worked on 

consumer protection matters in a variety 
June 6, 2013

7

of areas, including mobile technology, 

payment systems, prepaid cards, 

telemarketing, debt collection, mortgage 

lending, and mortgage loan modification. 

She was a primary contributor to the FTC’s 

report entitled Repairing a Broken System: 

Protecting Consumers in Debt Collection 

Litigation and Arbitration (2010). Prior to 

joining the FTC, Ms. Murphy was an antitrust 

associate at Jones Day in Washington, DC. 

She received her undergraduate degree 

from Georgetown University and her law 

degree from New York University School 

of Law.

Joann Needleman is vice president 

of Maurice & Needleman, P.C., where 

she is the managing attorney of the firm’s 

Philadelphia office. Ms. Needleman has 

extensive litigation experience in state 

and federal courts, successfully defending 

creditors against claims brought under 

various consumer protection statutes, 

including the Fair Debt Collection Practices 

Act. She is the incoming president for the 

National Association of Retail Collection 

Attorneys (NARCA). She has been a leader 

for the industry in advocating FDCPA reform 

and consults regularly with legislators and 

regulators, including the FTC and the CFPB.

Manuel Newburger is a partner and 

vice president of Barron & Newburger, P.C. 

in Austin, Texas, and has taught consumer 

protection law at the University of Texas 

School of Law since 1999. An attorney known 

internationally for his expertise on consumer 

law issues affecting the collection industry, 

Mr. Newburger has trained collectors and 

consulted on compliance issues across 

the United States and in India and the 

Philippines. Mr. Newburger was the principal 

author of Fair Debt Collection Practices: 

Federal and State Law and Regulation, 

and he has been a contributing author to 

the National Consumer Law Center’s The 

Practice of Consumer Law. He is a fellow of 

the American College of Consumer Financial 

Services Lawyers.

Denise A. Norgle serves as vice 

president and division general counsel 

for TransUnion, a nationwide consumer 

reporting company and a global leader 

in credit and information management. 

In her current role, she is responsible for all 

regulatory and litigation matters, as well as 

government relations, general corporate, 

and human resource matters. Prior to her 

current role, she was division general counsel 

for TransUnion’s U.S. Information Services 

division, and assistant general counsel in 

TransUnion’s corporate offices. Ms. Norgle 

joined TransUnion’s legal department in 1990. 

Prior to joining the company, she practiced 

corporate law at several well-known firms 

in Chicago. A graduate of Ripon College in 

Ripon, Wisconsin, she holds a BS degree in 

both economics and Spanish. She obtained 

her JD from the University of Illinois College of 

Law in Champaign.

David Pauken is the chief executive 

officer of Convoke Systems. Convoke is 

a software-as-a-service (SaaS) provider 

enabling secure inter-company exchange 
8

of electronic documents and data between 

multiple entities in the financial services 

industry. Convoke’s market includes credit 

issuers, government, and third-party market 

participants, such as debt buyers, collection 

agencies, and attorneys, among others. 

Convoke’s information mobility platform 

operates on-demand or automated, 

improving productivity, accuracy, 

security, and compliance. Before joining 

Convoke, Mr. Pauken served as the CEO 

of Eka Systems, COO of the Washington 

Redskins, chief accounting officer of Snyder 

Communications, and audit manager 

at Andersen.

David J. Philipps is a senior partner 

at Philipps & Philipps, Ltd., in Palos Hills, 

Illinois. He graduated from the University of 

Illinois College of Law and Loyola University 

of Chicago. After clerking for the Illinois 

Supreme Court from 1987 to 1988, he 

practiced at Beeler, Schad & Diamond, 

P.C. in Chicago, Illinois, until leaving in 

1999 to found his current firm. Mr. Philipps 

is a founding member of the National 

Association of Consumer Advocates (NACA) 

and is the Illinois state chair. In 2011, he was 

named the NACA Private Attorney of the 

Year. Mr. Philipps has lectured throughout 

the country at numerous FDCPA and class 

action seminars for NCLC, NACA, NARCA, 

NCABA, NLADA, CARPLS, and others. He 

litigates class and individual actions for 

consumers who have been subjected to 

illegal collection activity. Mr. Philipps has 

worked on and/or been appointed class 

counsel in about 165 cases, which have 

recovered more than $50,000,000 for 

defrauded or abused consumers.

Ira Rheingold is the executive director 

of the National Association of Consumer 

Advocates (NACA), an organization 

dedicated to protecting consumers from 

unfair and deceptive business practices. 

At NACA, Mr. Rheingold has testified 

before both Houses of Congress on various 

mortgage lending and consumer finance 

issues, offered commentary before federal 

agencies charged with regulating financial 

service industries and protecting consumers, 

and helped draft amicus briefs on issues 

of great concern to consumers before 

the nation’s highest courts. Before coming 

to NACA, Mr. Rheingold worked at the 

Legal Assistance Foundation of Chicago 

as a supervisory attorney in charge of 

the Foreclosure Prevention and Senior 

Housing Projects. His responsibilities included 

community outreach and education, legal 

and policy advocacy, and the development 

of impact litigation against predatory 

mortgage lenders. He is a graduate of 

Georgetown University Law Center.

Jessica Rich is the associate director 

of the FTC’s Division of Financial Practices. 

Ms. Rich oversees enforcement and policy 

work related to mortgage and debt relief 

fraud, debt collection, payday lending, 

auto financing, mobile payments, and other 

consumer protection issues arising in the 

financial sector. A 20+ year FTC veteran, 

Ms. Rich has held a number of senior 
June 6, 2013

9

positions at the agency, including associate 

director of the FTC’s privacy division and 

deputy director of the Bureau of Consumer 

Protection. Ms. Rich’s accomplishments 

include development of a number of FTC 

regulations; enforcement against companies 

such as Google, Microsoft, ChoicePoint, TJX, 

and LexisNexis; testifying before Congress 

on a variety of consumer protection issues; 

and spearheading policy initiatives, such as 

the FTC’s Debt Buyer Report, Privacy Staff 

Reports, and the Mobile Program. Ms. Rich 

is a graduate of Harvard University and New 

York University Law School.

Hon. Annette Rizzo was appointed 

to the Court of Common Pleas bench in 

Philadelphia in 1998 by then-Governor Tom 

Ridge. Since that time, Judge Rizzo has 

served in the Trial Division in both the Criminal 

and Civil Programs and now sits in the Civil 

Major Trial Program. Since the spring of 2008, 

she has been involved with the development 

and oversight of the First Judicial District’s 

Residential Mortgage Foreclosure Diversion 

Program, which mandates that no residential 

owner-occupied property in Philadelphia 

may go to Sheriff’s sale without a 

Conciliation Conference being held. Beyond 

her participation in community organizations 

and professional associations, including 

the Board of the Eastern State Penitentiary, 

Judge Rizzo also sits on a variety of court 

committees that involve in-house education 

for the bench on civil and procedural issues, 

as well as the FJD Pro Bono Committee, 

which seeks to expand volunteer service 

of the local bar in the courts. She is also an 

adjunct professor at Temple Law School.

Corey Stone is the assistant director 

for the CFPB’s Office of Deposits, Cash, 

Collections, and Reporting Markets. His team 

works across all of the Bureau’s divisions 

to build market intelligence, develop 

policy options, and coordinate industry 

outreach in the markets it covers, including 

debt collections. Before joining the CFPB, 

Mr. Stone served as a fellow at the Center 

for Financial Services Innovation and as a 

member of the Federal Reserve’s Consumer 

Advisory Council. He also was chair of 

Start Community Bank in New Haven, CT, 

and a visiting clinical lecturer at the Yale 

Law School’s Community and Economic 

Development Clinic. From 2006 to 2008, 

Mr. Stone served as CEO of Pay Rent, Build 

Credit, an alternative credit bureau helping 

underserved, “thin file” consumers. Prior 

to that, he was EVP at American Payment 

Systems, now part of FiServ. Mr. Stone began 

his career with 14 years of management 

consulting in the financial services and 

utility industries.

Larry Tewell is a senior vice president 

in the Consumer Credit Solutions division of 

Wells Fargo. He has a diverse background 

with more than 20 years of operations, 

marketing, and product management 

experience in the banking and finance 

industry. After spending time at GMAC and 

Citigroup, Mr. Tewell joined Wells Fargo in 

August 2001, where he first served as vice 

president and national collections manager 
10

for the bank’s auto division. Since 2006, 

Mr. Tewell has been responsible for credit 

card loss prevention and specialty collection 

operations, as senior vice president. 

Mr. Tewell is a member of the Consumer 

Bankers Association, presently serving as 

vice chairman on the Default Management 

Committee. He received a Bachelor of 

Science degree from the University of 

Nebraska. In addition, Mr. Tewell and his wife 

are active in their Utah community where 

they lead a non-profit organization.

Tom Thurmond is division president of 

Resurgent Capital Services. He is responsible 

for strategy and operations of Resurgent’s 

Investor Services, which manages purchased 

unsecured portfolios and related activities 

for various debt buyers. Mr. Thurmond is also 

accountable for Resurgent’s Unsecured 

Recovery Unit, as well as the human capital 

management function. Previously, he 

served in multiple executive-level positions 

with Capital One Financial Corporation. 

These roles included the development and 

management of outsourcing networks for 

collections, recoveries, and fraud with over 

75 locations in 4 countries generating cash 

collections in excess of $2 billion, and the 

creation of the recovery function for Capital 

One’s debt-buying operations in Boise, 

Idaho. In addition, Mr. Thurmond served as 

an examiner for the Federal Reserve Bank of 

Richmond. He has a BA in economics, cum 

laude, from Hampden-Sydney College.

John Tonetti joined the Consumer 

Financial Protection Bureau in December 

2011 and is the debt collections program 

manager in the CFPB’s Research, Markets, 

and Regulations Division. Mr. Tonetti started 

his career in the credit card business and 

worked as an executive at American 

Express, Citi, and Household/HSBC Credit 

Services. At HSBC, he was national director 

of risk operations and chaired the credit 

risk committee. Mr. Tonetti left the issuer 

side to co-found and eventually become 

president of First Performance Corporation, 

a receivables management company 

doing business in both the first- and thirdparty collections space. After selling First 

Performance, Mr. Tonetti worked in the 

debt brokerage business and eventually 

became an independent industry consultant 

specializing in operations and technology 

integration. He has an MBA in management 

and a BA in economics.