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Scott R. Fryzel

Member

Innovation and adaptability in financial services and products are essential but hardly a given. With a wealth of industry experience and an innate understanding of the legal, operational, and regulatory challenges facing his clients, Scott Fryzel develops approaches and facilitates initiatives that keep them at the forefront of financial industry change.

Scott is an authority on banking and financial services, an indispensable adjunct to in-house legal and business teams, and trusted advisor to c-suite executives. He represents national and state-chartered banks, foreign banks, credit unions, fintech companies, and other financial institutions on projects involving core banking services, innovative financial products and alternative delivery channels.

Scott's unique experience imbued him with the insights and perspectives to effectively address legal, regulatory, and business concerns, with a deep appreciation of the business goals and customer service that are important to his clients.

Scott takes ownership of projects while working seamlessly with his client's in-house legal team on a wide range of fintech initiatives, helping them innovate and re-imagine in the online banking and payments space within the parameters of their risk management profiles.

He represents clients on commercial and consumer financial services, including programs for loans and payment processing, treasury management services, regulatory examination issues and responses, outsourcing and vendor relationships and client-facing product and services agreements.

Candid and concise, Scott advises clients on regulatory compliance for institutional and policy matters, including guidance on issues for directors and senior officers and the consumer regulations of the Federal Reserve, OCC, FDIC, and the CFPB.

He regularly drafts agreements for payments and card programs, commercial and consumer deposit products, structured deposits, outsourcing projects, and white-label programs.

Scott’s regulatory practice also includes advising financial institution clients on data privacy and security matters, including breach response, regulator and customer/vendor notice, contractual terms, and other issues related to privacy laws and regulations, including the GLBA.

“Being agile yet deliberate in our approach allows us to deliver the creative and innovative solutions our clients need to drive growth, while recognizing, anticipating, and mitigating legal, regulatory, and business risks or exposure.”
    • Loyola University School of Law, J.D., 1994
    • Eureka College, B.A., Accounting, 1990

  • Bar Admissions

    • Illinois, 1994

    • Named as a Thomson Reuters Stand-out Lawyer, 2025

    • Named “Lawyer of the Year" by The Best Lawyers in America® for Financial Services Regulation Law, 2025

    • Recognized in The Best Lawyers in America® for Financial Services Regulation Law; Banking and Finance Law, 2022-2025

      • In-House Counsel, BMO Harris
      • Assistant Vice President and Assistant Counsel, ABN AMRO
      • Attorney, Illinois Department of Financial and Professional Regulation

Contact

Chicago312-627-2105

Latest News and Insights

Speaking Engagements4.30.25

Understanding and Onboarding Third Party Relationships

Scott Fryzel will serve as a featured speaker at Smarter Faster Payments 2025 on April 30 in New…

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Legal Alerts3.13.25

U.S. Government Increases Scrutiny on Mexico-Related Payments Following Terrorism Designations

In response to escalating concerns surrounding cartel-related activities, the U.S. government has…

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Speaking Engagements12.4.24

Nacha Payments Legal & Compliance Summit: Understanding the Basics of Payments Law

Understanding the fundamentals of payment laws and regulations is crucial to understanding how…

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