Overview
Jessica M. Shannon is a senior associate with the Consumer Financial Services practice of Paul Hastings and is based in the firm’s Washington, D.C. office. Jessica’s practice focuses on regulatory, compliance and enforcement matters related to consumer financial products and services.
Jessica advises banks and non-bank clients on regulatory compliance matters, including fair lending, redlining, disparate impact, UDAAP, advertising, deposit accounts and electronic funds transfers and other payment systems. She has extensive experience advising clients on regulatory compliance matters with respect to a range of consumer financial protection statutes and regulations, including the Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Electronic Fund Transfer Act (EFTA), Uniform Commercial Code (UCC), Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), as well as federal and state prohibitions against unfair, deceptive or abusive acts or practices (UDAAP). Jessica also provides guidance on payment network rules, such as NACHA.
Jessica has assisted clients in the financial services industry in resolving government investigations, enforcement actions and supervisory matters before several federal and state agencies, including the Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), Federal Trade Commission (FTC), Office of the Comptroller of the Currency (OCC), Federal Reserve Board, U.S. Department of Housing and Urban Development (HUD) and state financial regulators and attorneys general. Jessica’s representations have included representing several banks and non-banks in fair lending investigations initiated by the DOJ, CFPB, OCC, HUD and state regulators.
Prior to joining the firm, Jessica was an associate with a midsize law firm, focusing on government enforcement and regulatory compliance. Jessica received her J.D., summa cum laude, from American University in 2016, where she was an articles editor for the American University International Law Review. She received her Bachelor of Arts from Lehigh University in 2013.
Accolades
- Fairness at the Forefront: Developments in Fair Lending
Education
- American University, J.D. (summa cum laude), 2016
- Lehigh University, B.A., 2013
Representations
- Represented several banks and nonbank companies in fair lending investigations initiated by the DOJ, CFPB, OCC, HUD and state attorneys general.
- Responded to federal enforcement actions, including subpoenas and Civil Investigative Demands (CID) from the CFPB, DOJ, FTC, Federal Reserve Board and HUD.
- Advised and represented financial institutions during supervisory examinations, including responding to exam requests, supervisory letters, and Potential Action and Request for Response (PARR) letters.
- Advised financial institutions and fintech companies on regulatory compliance matters, including fair lending, redlining, disparate impact, UDAAP, advertising, electronic funds transfers and payments.
- Performed risk assessments and reviews for banks and nonbanks covering fair lending, fair servicing, electronic funds transfers, UDAAP, marketing and compliance management across business and operational lines.
Engagement & Publications
- "Modern Day Redlining in Focus: Takeaways from Trident Mortgage and Beyond,” Mortgage Bankers Association Member Webinar (2022)
- "Fairness at the Forefront: Developments in Fair Lending," American Bar Association Business Law Section Webinar (2022)