NEW YORK, Apr. 7, 2021 /PRNewswire-PRWeb/ -- Petal, a
new kind of credit card company created to help people build credit
and spend responsibly, today announced that it has named Elizabeth
("Eli") Corbett as its General
Counsel and Chief Compliance Officer.
"Eli brings an incredible diversity of expertise in law, policy,
and compliance. In addition, she knows how to scale—having served
as a key member of the team that built the CFPB into a fully
functioning federal agency," said Jason
Gross, Petal's CEO and co-founder. "Her leadership will be
critical as Petal is growing faster now than ever before."
Corbett joins Petal after a
distinguished and diverse career that has included working across
the regulatory and policy spectrum. Her experience ranges from
serving as a senior official at the Consumer Financial Protection
Bureau (CFPB), to advising fintech clients in practice on how to
innovate in a complex regulatory environment, to leading compliance
at one of the nation's largest and fastest growing credit
unions.
Before joining Petal, Corbett
served as Deputy General Counsel, SVP of Compliance, and Bank
Secrecy Officer at State Employees' Credit Union in Raleigh, North Carolina. In that position, she
served as in-house counsel advising executive management on various
legal and regulatory matters, and managed the institution's
compliance program.
Prior to that, she served as counsel for Alston & Bird,
helping clients build compliance management systems, navigate
compliance with consumer financial protection regulations, and
resolve criminal investigations and civil administrative
enforcement actions.
Notably, Corbett served for
more than five years as a senior official at the CFPB. In that
time, she served at nearly every level, working her way from
enforcement to eventually become the acting chief of staff for the
agency. That work gave her valuable insight into the inner workings
of consumer financial policy and allowed her to play an important
role in achieving the agency's mission of doing right by consumers.
Through this work, Corbett
developed a keen appreciation for the impact financial regulation
can have on consumers and their access to fair and equitable
products and services, and also how adherence to those regulations
by responsible financial services institutions can lead to consumer
financial health and well-being.
In addition to her experience at the CFPB, Eli brings a strong
background in criminal investigations and trial work from serving
as an Assistant U.S. Attorney in the U.S. Attorney's Office for the
District of Columbia, where she
investigated and prosecuted hundreds of misdemeanor and felony
criminal cases in D.C. Superior Court.
About Petal:
Petal is a new kind of credit card company founded to help people
financially succeed (http://www.petalcard.com). Petal pioneered the
Cash Score – an alternative measure of creditworthiness based on
income, savings and spending history – to make credit more
accessible, especially for people just starting out with credit.
Petal offers a simple, modern digital experience that encourages
members to build credit, avoid debt, and spend responsibly. Petal
is located in New York, NY, and
Richmond, VA. Petal credit cards
are issued by WebBank, a member of the FDIC.
Media Contact
Matt Graves, Tripleshot
Communications, +1 4152903503, matt@tripleshot.co
SOURCE Petal