TCF to pay $10 million for lapses in monitoring suspicious transactions

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: January 26, 2013 - 6:58 AM

Regulators cited late and botched reports about suspicious transactions. TCF said there was no sign of terrorist involvement.

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chewnutJan. 25, 13 9:44 PM

the fine gets paid by the depositors.. aka customers... and the people getting loans.. circular economics.. where do you think tcf gets their money?

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shushyn78Jan. 25, 1311:31 PM

Whew, just closed my accounts there this week. Good riddance.

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davethedogJan. 26, 13 3:38 AM

A new software program to "flag" unusual transactions ? How 'bout let's STOP unusual transactions TCF. How about for ONCE let's put our country above our bank account, TCF.

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nessmessJan. 26, 13 9:29 AM

How about this novel idea!!! instead of paying a fine (bribe tax) to gov't, they could repay customers who had their banking account raided by hackers over the last year. I for one was one of those individuals effected.... Interesting how it happened "minutes" after giving money to a certain presidential campaign... Bunch of crooks!!

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minnelusaJan. 26, 1310:06 AM

gaspl..can't believe Bill Cooper would allow such a thing.

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granny47Jan. 26, 1310:37 AM

Regarding: Bush said she thought TCF's $10 million fine was relatively small: "It seems to be more symbolic than anything else." OUCH, another hand-slapping. Bet that will teach them huh? Interesting they can't keep track of suspicious transactions, but they monitor mine, which is minimal, like a hawk. I've switched all but one direct deposit to my CU and will do the last one very soon as well.

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fwallenJan. 26, 1310:51 AM

I with I had a big deposit there so I could remove it. Until penalties apply to the individuals responsible there is little hope for reform. The banks like this will just pass costs onto consumers. Wake up America!

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craigtcassJan. 26, 1311:41 AM

I am so pleased to hear this. I was given a $175.00 gift card. It was never used for several months and when I decided to use it I found that someone had depleted it by $145.00 for gas and TCF said too much time had passed by me not informing them of the fraud and they did NOTHING to reimburse me. I will never do business with this bank that has NO business acumen, so I guess this fine fits with their business plan.

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edinawaterJan. 26, 13 1:00 PM

Most big businesses give generously to both of the major political parties. TCF is well-known for giving generously to one party. This is what happens when they fail to donate to the party in power.

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pinked10Jan. 27, 1312:43 PM

Once again this rag did not post my comment. I did not say anything offensive but said why I dumped TCF as my bank 5 years ago.

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