LendingUSA announced on Friday it has appointed former consumer enforcement unit attorney, Jenann Shemisa, to its executive team as both General Counsel and Chief Compliance Officer. Shemisa will assume her new role immediately, reporting directly to Camilo Concha, CEO and Founder.
According to LendingUSA, Shemisa previously served as Counsel at the Federal Deposit Insurance Corporation’s Consumer Enforcement Unit in Washington, D.C. and provided legal advice and guidance to the FDIC’s Legal Division and the Division of Depositor and Consumer Protection in matters concerning compliance and consumer protection. Sharing details about the appointment, Sharat Shankar, Chief Risk and Operations Officer, stated:
“As LendingUSA continues to grow and innovate the way consumers finance the things that matter most to them, having a compliance expert like Jenann join our leadership team is crucial. Jenann’s insights will help us to better serve our borrowers and merchant partners, and ultimately create more efficient, more effective loan programs.”
Shemisa also noted:
“I am honored to have been selected as LendingUSA’s General Counsel and Chief Compliance Officer. Having witnessed firsthand the devastation that occurred during the 2008 financial crisis, it was important for me to be part of a company that is committed to providing high-quality, innovative financial products and services. After conducting my due diligence, I discovered that LendingUSA is a company that truly cares about its customers, with a mission to provide consumer financial products with ingenuity, heart and integrity. They have a unique and exciting opportunity to bring back consumer confidence in the financial services industry, and I am grateful for the chance to work with Camilo, Sharat, the Board of Directors, the management team, and my fellow colleagues to help create LendingUSA’s exciting future.”
“Compliance is at the top of our list of priorities at LendingUSA. Finding somebody who has government and private sector experience is key to the design of the best possible compliance program for our organization. I’m proud to welcome Jenann to LendingUSA, and I’m looking forward to working with her to meet and exceed compliance standards, and put our consumers first.”