If a company priced its services to you with two options: one price, presumably higher, based upon account servicing being handled domestically within the US and a second, presumably lower, price based upon account servicing being handled offshore, how would you vote?
Today’s American Banker has a story on legislation being considering by several states to limit offshoring — while Chris Larson, CEO of E-Loan, talks about given such a consumer choice option a try.
E-Loan plans a pilot program in its home equity unit to disclose exactly how operations are being outsourced, Mr. Larsen said. It may eventually offer a choice of a domestic or outsourced application and service processes, and he is “anxious” to see how many people actually opt out. If enough do, he said, E-Loan may offer a “straight-up” cost rundown. “If you want this domestically, it’s going to be X cost, if you want it internationally, it’s going to be Y cost.”
Reminds me of those days not so long ago when Wal-Mart used to feature goods in its stores that were “Made in the USA”. Feels like ancient history now.