Feds suit says TCF tricked customers on overdraft fees
January 20, 2017
WASHINGTON – The Consumer Finance Protection Bureau sued Wayzata-based TCF Bank Thursday, alleging that the bank tricked customers into paying a $35 service fee to cover each overdraft on their accounts.
The suit accuses TCF of pushing overdraft services even as new federal rules prohibited overdraft charges for certain debit-card and ATM transactions unless customers agreed to them. The 2010 rules required customers to specifically accept overdraft protection fees, a status called “opt in.”