Fitch downgrades TCF's debt rating: A notch above 'junk'

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: February 15, 2013 - 8:04 PM

Fitch also demoted two other mid-tier regional banks.

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brotherkennyFeb. 15, 13 8:57 PM

I believe, but I could be wrong, that the key to being a good bank is accurately evaluating risk and then setting rates at levels that account for that risk. Enticing high risk customers with trickery is not a solid plan. Maybe my analysis is to simplistic and doesn't account for the intricacies of the industry. On the other hand, the people I deal with are solid, being a credit union and a privately owned local bank that holds and carries all loans to completion.

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QbikerFeb. 15, 13 9:27 PM

I can't stand TCF! I closed my checking account about 1 1/2 years ago after they started charging me a monthly "maintenance fee". I'm positive they didn't notify me about the change so I just closed my account. TCF= unethical business practices. They target the disadvantaged and made a lot of money on what they would call "convenience fees". Of course now it's the government's fault now that there is a cap on fees and TCF can't gouge customers anymore.

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hammarhead1Feb. 15, 13 9:30 PM

I ditched TCF for a credit union 25 years ago.

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pipdipchipFeb. 15, 13 9:32 PM

I appreciate that TCF is a local company but their perception among people I know is low. Their fees and business practices are often questionable. They basically force you to get one when you go to college in Minnesota. I quickly switched to Wells Fargo and don't regret it.

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turgidFeb. 15, 1310:50 PM

Closed my account 20 years ago after they made me wait 13 days for an out of state check to clear. Never even considered going back.

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theagonybhoFeb. 16, 13 9:26 AM

Fitch should downgrade the US to just above junk, at least TCF isnt 17 trillion in debt.

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bettles91365Feb. 16, 13 7:56 PM

TCF - they " didn't need " the tarp funds, right?

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