Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

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.”


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