PALO ALTO, Calif.--(BUSINESS WIRE)--Earnin, the leader in building products for a more equitable financial system and a better life for those living paycheck to paycheck, today announced the appointment of David Durant and Simone dos Santos as General Counsel and Associate General Counsel, respectively. In his role, Durant will oversee all aspects of Earnin’s legal, regulatory, and government relations matters, with dos Santos serving as his chief deputy.
Durant and dos Santos have extensive financial services experience and are committed to helping support solutions that address the challenge of inequities in the financial system stemming from the traditional two-week pay cycle. Through their new roles, they will be able to contribute to Earnin’s mission by continuing to protect and advocate for consumers and enabling creation of products that meet consumers’ needs.
“The experience David and Simone bring to Earnin aligns with our customer-first approach to offer financial well-being products that empower our users,” said Ram Palaniappan, Founder and CEO of Earnin. “Through these additions to the legal team, Earnin will strengthen our ability to create safe and consumer-friendly products that shift the fabric of our financial system for the betterment of workers.”
Durant has over 30 years of expansive legal experience and 20 years in the financial services industry. Prior to joining Earnin, he served as the General Counsel at Yapstone, a global provider of online and mobile payment solutions for global marketplaces and large vertical markets, where he leveraged his deep experience building and leading international legal and compliance teams. Previously, Durant served as General Counsel for Blackhawk Network, a leading international gift card and branded payments company, where he also led the government affairs function. As General Counsel for Earnin, Durant liaises with regulators on behalf of the company and serves as a key partner to Earnin's business leaders, developing and implementing legal policies and procedures, as well as facilitating and supporting the company's plans to scale products and services.
“What drew me to Earnin is its unique position in the fintech industry, as an organization growing at a tremendous rate, with a passion for improving the lives of Community Members by providing financial solutions that allow them to control their finances,” said Durant. “Having spent 20 years of my legal career in the financial services industry, I can tell you that the combination of financial innovation and a truly mission-driven team is incredibly rare. I’m humbled to lend my expertise as Earnin continues to grow and navigate new roads in the industry.”
Most recently serving as Assistant General Counsel for Fair Lending in the Consumer Banking division at Bank of America, dos Santos brings over 20 years of legal experience across a range of administrative law, banking law, statutory, regulatory and legislative matters. While at Bank of America, dos Santos was also counsel responsible for the company’s Community Reinvestment Act program. Additionally, in her prior role as Assistant General Counsel for the Office of the General Counsel at the D.C. Department of Insurance, Securities & Banking (DISB), she provided legal and advisory services related to DISB’s regulation and supervision of financial institutions and managed independent and broad-ranging legal research projects on unique and specialized issues.
“I’m honored to have joined Earnin as we strive to make a societal difference in the way consumers are financially empowered through mobile technology,” said dos Santos. “I’m especially excited to facilitate bringing products to market that support Earnin’s mission and purpose-driven approach.”
Amid an economic climate that has prompted many in the tech industry to scale back, Earnin’s continued growth - throughout its user community, product portfolio, and workforce - sets it apart from several Silicon Valley neighbors. Actively recruiting the tech industry’s top talent, Earnin is rapidly expanding and hiring for roles across all functions and teams with the option to work from anywhere.
As the groundbreaking leader in earned wage access, Earnin’s mission is to build products for a more equitable financial system and a better life. Built for the unique needs of those living paycheck to paycheck, Earnin is designed to free people from the traditional payment cycle and help them take control of their money, starting from when they earn it. Earnin’s comprehensive suite of tools include: Cash Out, which provides access to income as it’s earned, Balance Shield, a low balance alert to help maintain a positive bank balance, Financial Calendar that helps people budget and schedule payments, and Tip Yourself, an easy way to set aside money to reach savings goals. Earnin is community-supported, with no mandatory fees or hidden costs. People have the option to tip what they choose to support the service. As of September 2021, Earnin has performed more than 125 million transactions and provided access to $10 billion in earnings for its members.