TCF National Bank agrees to $10M regulatory settlement of BSA matters

theflyonthewall.com

TCF National Bank, the principal subsidiary of TCF Financial Corporation, announced that it has entered into an agreement with the Office of the Comptroller of the Currency pursuant to previously disclosed deficiencies in its Bank Secrecy Act compliance program. TCF Bank previously disclosed that it may incur a civil money penalty related to its BSA program. TCF Bank has agreed to payment of a civil money penalty in the amount of $10M, or 6c per common share in Q4.

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