NEW YORK (PRWEB) April 07, 2021
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.
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.