- Bank Mergers and Acquisitions and Regulatory Applications
- Bank Regulatory Compliance/Examination Activities
- Bank Regulatory Matters
- Banking and Financial Services
- Consumer Financial Services
- Credit Card Lending and Processing
- Disclosure Requirements (Federal/State)
- Fintech and Marketplace Lending
- Gift Cards and Other Stored Value Cards
- Interest and Usury
- Internet Banking
- Mortgage and Home Equity Lending
- Non-Banking Activity Approvals
- Outsourcing and Vendor Service Agreements
- Portfolio Acquisitions and Sales
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.
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
- "FDIC Emphasizes Corporate Leadership to Address the Key Risk Management Issues Raised by Cybersecurity and Marketplace Lending," Pratt's Privacy & Cybersecurity Law Report, May 2016
- "Technology is Great, But Remember to Validate," Illinois Banker, December 2013
- "The FFIEC's Supplement to Authentication in an Internet Banking Environment: The New Minimum Legal Standard," The Banking Law Journal, October 2011
- 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.