Dean E Sheaffer - Member Profile

Mr. Sheaffer brings over 30 years’ executive level experience in payments, operations, compliance, and strategic planning with a focus on Private Label Credit Card (“PLCC”) servicing and collections.

As Senior Vice President of Financial Services and Chief Compliance Officer for the country’s largest, privately-owned department store, Mr Sheaffer had full P&L responsibility for a $500Mn+ PLCC portfolio including account acquisition, marketing, customer care, and collections from 1987 to 2020. PLCC portfolios present a unique profile in that they span no-file/thin file, sub-prime, prime, and super-prime consumers. Servicing and collecting from these populations require specialized and targeted approaches.

Mr. Sheaffer has served in multiple leadership positions in credit and payments industry associations and advisory groups. These include, but are not limited to:

• Chair – National Retail Federation’s Credit Executive Committee – largest retail organization globally.

• Board Member – Merchant Advisory Group – comprised of payment professionals from merchants with an aggregate sales volume of $4Tn+

• Member – Equifax Customer Advisory Group – one of the three US credit reporting agencies.

• Member – Cardinal Commerce Customer Advisory Group – a key service provider to creditors and merchants – acquired by Visa.

• Inventor of two (2) U.S. patents related to credit card issuance.

For the past several years, Mr. Sheaffer has served as an executive consultant to the CEOs of domestic and international firms and their executive leadership teams to:

• Launch payments products in the U.S.

• Evaluate U.S. market entries for established Australian and EU based firm.

• Develop strategies and use cases for real-time payments for global treasury management services provider.

• Advise on cross-border payments including ISO2022 standards.

• Advise major financial institution on federal compliance matters related to payments.

• Develop intellectual property and file two (2) additional US provisional patent applications for financial services related matters.

• Testify before Wyoming’s Blockchain Task Force regarding cryptocurrency related matters.

Previous employers include MBNA and Pentagon Federal Credit Union both in roles related to servicing and collecting credit card portfolios.