Edward Somers
Partner, Financial & Fintech Advisory @Orrick, Herrington & Sutcliffe LLP
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WORK HISTORY
Partner, Financial & Fintech Advisory @Orrick, Herrington & Sutcliffe LLP
Chicago, IL, US
Advising clients in regulatory, supervisory, and enforcement matters related to deposits, payment systems, consumer lending, and electronic contracting- Guide clients through supervision and enforcement before the CFPB, including matters concerning Regulation E overdraft, error resolution, Prepaid Card and Remittance Transfer Rules compliance, as well as matters involving state and federal law concerning garnishments and setoffs- Draft consumer deposit, online banking, wire transfer and related agreements, disclosures, and policiesCounsel clients on regulatory compliance in the area of deposits issues, including error resolution requirements, preauthorized payments, prepaid card products, and remittance transfers- Navigate private payment systems rules, dispute resolution and enforcement structures, including National Automated Clearing House Association (NACHA) and card network rules
EDUCATION
University of Notre Dame
Bachelor of Arts (B.A.)
University of Chicago Law School
Doctor of Law (J.D.)
ABOUT EDWARD SOMERS
I lead the Chicago office of Orrick, Herrington & Sutcliffe LLP where I represent bank and non-bank financial services clients in regulatory, supervisory and enforcement matters related to deposits, payments, consumer lending and electronic contracting. I advise on product design and regulatory compliance issues with an emphasis on Regulation E, NACHA Rules, the UCC, ESIGN and the UETA, and emerging payments systems.
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