Chime is pleased to welcome Shara Chang to the company as Chief Compliance Officer.
Shara reportedly “brings 15 years of financial services, fintech, and consumer protection experience to Chime.”
She’s previously advised banks and high-growth companies “on regulatory compliance, risk management, and product development.”
As Chief Compliance Officer, Shara will “lead regulatory compliance across the company. She will help us continue to earn, maintain, and build trust with Chime’s constituents—members, bank partners, and regulators—as the company continues to deliver innovative products and disrupt the financial services industry.”
She will report “to Adam Frankel, Chime’s General Counsel.”
Adam Frankel, General Counsel, said:
“We’re thrilled to welcome Shara Chang to the Chime team as our Chief Compliance Officer. Shara’s breadth of experience in fintech, consumer protection, and financial services make her the perfect person to ensure compliance remains a core element of our culture.”
Prior to joining Chime, Shara served “as Chief Legal Officer of proptech company Divvy Homes, where she oversaw legal, compliance, and HR. Before Divvy, she was General Counsel and Chief Compliance Officer at Peach Finance, led a privacy counseling team at Meta, and was the first Product Counsel at Affirm.”
In these roles, Shara had reportedly “handled legal and regulatory matters around pricing, marketing, underwriting, consumer experience, and more.”
Earlier in her career, Shara was in “the financial institutions groups of Cleary Gottlieb and Buckley (now part of Orrick), where she advised fintechs, banks, credit agencies, and other financial companies on regulatory compliance and enforcement, conducted risk and readiness assessments for banks, built complaint programs, and assisted with fair lending best practices.”
Shara has spoken extensively “on compliance, fair lending, privacy, AI applications, marketing, and DEIB and co-authored a fair lending guide for bank directors. Shara earned her bachelor and masters degrees in Economics from Toronto Metropolitan University and York University, and her JD from Howard University School of Law.”
Shara Chang, Chief Compliance Officer, said:
“I look forward to advancing the great work already done at Chime to build a compliance organization that is committed to doing right by our members and partnering with the business to deliver meaningful financial services. I’m excited to see our team drive innovation while thoughtfully mitigating risk and bolstering our strong culture of compliance.”
As covered, Chime is a financial technology company “founded on the premise that basic banking services should be helpful, easy, and free.”
Chime aims to profit with consumers “not from them and has a business model that doesn’t rely on consumer fees such as overdraft, monthly service, or minimum balance fees.”