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Shannon Patterson

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Shannon Patterson collaborates with clients to develop and implement a practical, integrated approach to meeting their corporate needs. Working closely with executive management and directors, she helps clients merge their compliance efforts with established business goals to improve corporate performance.

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Join Troutman Pepper Partner Chris Willis and Counsel Shannon Patterson as they discuss the top issues a company’s board of directors needs to consider regarding the use of artificial intelligence (AI) in its business. Shannon specializes in advising companies on board and management governance issues, particularly publicly traded companies, to ensure that boards are well-informed of their responsibilities. In this episode, Shannon offers valuable insights on how a company’s general counsel can support its board in integrating principles of good governance for the responsible and effective use of AI.

Last month, the Consumer Financial Protection Bureau (CFPB) issued orders to five companies offering buy now, pay later (BNPL) products, asking them to provide information on several topics, including:

  • Business models,
  • BNPL performance metrics,
  • Disclosures and other consumer protections,
  • User demographics, and
  • Data harvesting and monetization.

For more information the CFPB’s inquiry, please see our…

Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. On March 29, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued a request…

In a final act of his tenure, Brian Brooks, the acting Comptroller of the Currency (OCC) on January 14 finalized a rule to ensure “fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations.” Brooks announced that he would be stepping down from…

Join Troutman Sanders attorneys Shannon VanVleet Patterson and Sheila M. Pham for a complimentary webinar on August 10, 2017 from 3:00 – 4:00 p.m. ET.

On March 1, 2017, the revised Cybersecurity Requirements for Financial Services Companies adopted by the New York Department of Financial Services (“NY DFS”) became effective.  This regulation requires banks, insurance…

On December 28, the New York Department of Financial Services (“NY DFS”) released its highly anticipated revised cyber security rule.  As we previously noted here, the proposed regulations would require banks, insurance companies, and other financial services institutions to establish and maintain a cybersecurity program and to take other measures to protect against data…