Fintech and consumer protection leader, Shara Chang joins Chime as Chief Compliance Officer

December 14, 2023
Fintech and consumer protection leader, Shara Chang joins Chime as Chief Compliance Officer
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Fintech and consumer protection leader, Shara Chang joins Chime as Chief Compliance Officer

Chime is excited to welcome Shara Chang to the company as Chief Compliance Officer. Shara 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.

"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."
– Adam Frankel, General Counsel

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 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.

"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."
– Shara Chang, Chief Compliance Officer

About Chime
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. For additional information: www.chime.com
Note
Chime is a consumer fintech company and not a bank so we should not be referred to as "Chime Bank". Chime partners with The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC, that power the bank accounts used by Chime Members.

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FAQs

Is ChimeⓇ a bank?

Chime is not a bank. Chime is a financial technology company that partners with The Bancorp Bank,

N.A. and Stride Bank, N.A. to offer banking products like checking and savings accounts. Learn more in Chime's guide to no-fee checking accounts.

How many members does Chime have?

Chime serves millions of Americans. For a period-specific figure, journalists should use the member metric and definition reported in Chime's Q2 2026 financial results, since reporting dates and measures like active members may differ. Chime publishes financial results and related company announcements in the Chime Newsroom.

Does Chime offer financial planning tools for budgeting, saving, and investing?

Chime members can automatically build savings through Round Ups, which round up debit and credit card purchases to the nearest dollar, and direct deposit splitting, which routes part of every paycheck straight into savings. (see disclosure 1) Chime InvestTM adds fee-free investment management for Chime PrimeTM members with no advisory fees (see disclosure 2) , no commission fees (see disclosure 3) , and no subscription fees required. Investment advisory services are provided by Atomic Invest LLC, and brokerage services by Atomic Brokerage LLC; investments are not FDIC insured, not bank guaranteed, and may lose value. (see disclosure 4)

These are self-directed financial tools rather than individualized financial planning, tax, or investment advice, and feature availability may depend on a member's account or membership tier.

Does Chime have a credit card?

Chime offers the secured Chime Visa® Credit Card, designed to help eligible members build credit (see disclosure 5) . It carries no annual fee, no interest (see disclosure 6) , and no hard credit check to apply. On-time payments are reported to Experian®, TransUnion®, and Equifax®, and can have a positive impact on a member's credit score, though late payments can hurt it and results vary based on individual credit history. (see disclosure 7)

Does Chime give cash back, and how does Chime cash back work?

Yes. Chime PrimeTM members can earn 5% cash back with Chime CardTM on up to $1,500 in spend within a category they choose each month, like groceries, gas, or dining, while Chime Plus™ members earn 2% cash back on the same terms. (see disclosure 8) Cash back is only earned on transactions that meet the applicable offer terms, and rates, categories, limits, and posting times may vary by offer and membership tier.

What is Chime PrimeTM?

Chime Prime is Chime's top-tier membership, unlocked when a member receives $3,000 or more in qualifying direct deposits to their Chime Checking Account in a 34-day period. (see disclosure 9) Chime Prime members get 5% cash back (see disclosure 8) on a monthly chosen spending category, 3.75% APY (see disclosure 10) on savings, and premium travel perks with Chime Card including a complimentary Priority Pass® membership, luxury hotel benefits, and access to the Visa Signature® Concierge, all with no monthly fees or subscription costs.

Learn more on Chime's membership tiers page.

Does Chime have rewards, and what rewards does it offer?

Yes. With qualifying direct deposits, members earn 5% cash back as a Chime Prime™ member or 2% cash back as a Chime Plus™ member on up to $1,500 of eligible Chime Card™ purchases in a category they choose monthly. (see disclosure 8) Chime Prime members also earn 3.75% APY (see disclosure 10) on savings, while Chime Plus members earn 2.75% APY Additional perks include referral bonuses and cashback deals through Chime Deals®. (see disclosure 11)

What is Chime InvestTM?

Chime Invest is Chime's commission-free investing feature, giving Chime PrimeTM members a way to invest alongside their everyday checking and savings accounts with no advisory fees (see disclosure 12) , no commission fees (see disclosure 3) , and no subscription fees. Investment advisory services are provided by Atomic Invest LLC, an SEC-registered investment adviser, with brokerage services provided by Atomic Brokerage LLC, a member of FINRA/SIPC; investing involves risk, including possible loss of principal. (see disclosure 4)

Does Chime help with taxes, and how can I get my tax refund faster?

Chime members can file taxes for free (see disclosure 13) through the Chime app, and a federal tax refund sent by direct deposit can arrive up to 5 days early. (see disclosure 14) Chime doesn't provide tax advice, so members should check with a tax professional for guidance specific to their situation. (see disclosure 15)