Page 6 - TCF Bank

TCF is a Wayzata, Minnesota-based national bank holding company. As of
March 31, 2017, TCF had $21.8 billion in total assets and 331 branches in
Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona and South
Dakota, providing retail and commercial banking services. TCF, through its
subsidiaries, also conducts commercial leasing, equipment finance, and auto
finance business in all 50 states and commercial inventory finance business in
all 50 states and Canada.

Colorado deposits is 950 million.

TCF Bank is the wholly owned banking subsidiary of TCF Financial Corporation, a
bank holding company headquartered in Wayzata, Minnesota.

TCF has 35 branches in Colorado.

Controversy

Overdraft Service
In 2010, TCF Bank was sued regarding overdraft fees. Some practices that came to light included
[3]
processing higher amount transactions first in order to drain customer accounts faster, allowing TCF
to then increase the number of total overdraft charges from each of the smaller amounts remaining,
as well as charging overdraft fees on a daily basis rather than posing one flat fee. In 2011, TCF
Bank changed its overdraft policy to include a daily $28 fee. After public backlash, the bank
[4]
reversed its policy in 2012.
[5]
Bank Secrecy Act

In 2013 TCF was assessed a $10 million fine for violating the Bank Secrecy Act. This was a result
[6]
of their failure to file suspicious activity reports in a timely fashion.