Loyola University Chicago School of Law, J.D.

Eureka College, B.A., Accounting



Scott Fryzel is a partner in Chapman and Cutler’s Banking and Financial Services Department. He has extensive experience representing national and state-chartered banks, foreign banks, finance companies and other financial institutions on a broad range of issues from core banking services to innovative financial products and alternative delivery channels. He represents clients on projects including bank mergers and acquisitions; fintech initiatives such as loan programs and payment processing; treasury management services; outsourcing, vendor and client services agreements; and trade services transactions and processing.

Scott’s practice includes advising clients on regulatory compliance with respect to institutional and policy matters, including guidance on issues for directors and senior officers, and the consumer regulations of the CFPB, OCC, FDIC, and Federal Reserve. He regularly drafts agreements for commercial and consumer deposit products, card programs, and structured deposits as well as outsourcing projects and white-label programs. In addition, Scott counsels clients on bank asset acquisitions and sales, state and federal regulatory matters and examinations, policy and internal controls issues, and internet banking.

As a former bank regulator and in-house counsel, Scott has unique experience that informs his ability to advise clients on legal and regulatory issues impacting financial institutions. Prior to joining Chapman and Cutler, Scott was Assistant Counsel at LaSalle Bank Corporation, the holding company for the U.S. subsidiaries of ABN AMRO Bank N.V., providing legal counsel to senior executives, product managers and sales and implementation divisions. He also served as in-house counsel for BMO Harris Bank/Bank of Montreal, and as attorney for the Illinois Office of Banks and Real Estate (now a part of the Illinois Department of Financial and Professional Regulation), the primary regulatory agency in Illinois for banks, trust companies and mortgage lenders.

Representative Transactions

Scott’s recent transactions include the representation of clients in the following matters:

  • Negotiating a loan purchase program with a fintech lender
  • Outsourcing services to a foreign bank to provide Euro-denominated accounts and funds transfer access to U.S. customers through a single Internet portal
  • Multiple bank outsourcing agreements for core processing and trade and foreign exchange services
  • Advising on a commercial loan decisioning and processing platform
  • Drafting documentation for a commercial card white label program 



  • Panelist, "Fintech and Banking: A Welcome Partnership?," Illinois Banker Association's Annual Conference. June 25 – 27, 2018.
  • Panelist, "Business and Regulatory Aspects of Third Party Relationships," Illinois Banker Association's Annual Conference. June 16 – 18, 2014.
  • Panelist, "Consumer Regulatory Impact on Your Commercial Business," NACHA's 2014 Payments Conference. April 6, 2014.