Lori Sommerfield

Of Counsel
Minneapolis

Lori Sommerfield is a seasoned consumer financial services attorney with over two decades of legal and regulatory compliance experience in federal government, in-house, and private practice settings.

Lori has a unique background as both an attorney and a senior compliance risk officer for a major U.S. bank. Lori has previously held significant positions as in-house counsel at major financial institutions and served as outside counsel for both bank and nonbank clients with a nationally recognized law firm. She began her career as a staff attorney at the FDIC in Washington, D.C., helping formulate banking policies and regulations. Most recently, Lori served as Executive Vice President and Deputy General Counsel for Consumer Banking at TCF National Bank, a regional bank.

Professional Highlights

Professional Activities

District of Columbia Bar Association

Minnesota State Bar Association
Past Co-Chair, Banking Law Committee (2000-2010)
Past Executive Council Member, Business Law Section (2000-2009)

American Bar Association, Business Law Section
Member, Consumer Financial Services Committee
Member, Banking Law Committee

Speaking Engagements

Frequent public speaker at banking industry legal and regulatory compliance conferences, as well as leading or participating in law firm webinars and client workshops. Recent speaking engagements include:

  • CRA & Fair Lending Colloquium, “Hot Topics in Fair Lending and CRA” plenary session panel, Nov. 6, 2018, Hollywood, Fla.
  • Minnesota Banking Law Institute, “Mitigating Legal Risk for Digital Platform Accessibility Under the ADA,” April 5, 2018, Minneapolis

Board Memberships & Community Service

National Philharmonic
Member, Board of Directors (2015-2019)
Chair, Governance Committee (2016-2018)

St. Paul Chamber Orchestra
Governing Member (2007-2010)

Oratorio Society of Minnesota
Chair of the Board and President (2003-2006)
Member, Board of Directors (2000-2007)

Chamber Music Society of Minnesota
Interim President (2003-2004)
Member, Board of Directors (2002-2004)

Publications

Lori is a frequent contributor to the firm's Consumer Finance Monitor blog.

Co-author, “The OCC’s CRA Final Rule – A Work in Progress or Game Changer?,” ABA’s The Business Lawyer, Spring 2021 edition

Co-author, “Protecting Federal Stimulus Payments from Creditors, “ Law360, April 13, 2021

Co-author, “Fair Lending” chapter, Consumer Finance Law: Understanding Consumer Financial Services Regulations book (published by ABA), 2021

Credentials 

Education

Catholic University of America, Columbus School of Law (J.D. 1994)

University of Minnesota (B.A. 1986)

Admissions

Minnesota

District of Columbia