|[March 17, 2017]
TCF FINANCIAL INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of TCF Financial Corporation - TCB
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into TCF Financial Corporation
On January 19, 2017, the Consumer Financial Protection Bureau ("CFPB")
filed a lawsuit against TCF Financial Corporation's principal
subsidiary, TCF National Bank ("TCF"), alleging that TCF illegally
"devised and then executed a strategy to persuade its customers to opt
in" to costly overdraft protections that generated millions of dollars
in revenue. The CFPB alleges that TCF designed its application process
to obscure the fees and make overdraft seem mandatory for new customers
to open an account. The CFPB also asserted that TCF adopted a loose
definition of consent for existing customers in order to opt them into
the service and pushed back on any customer who questioned th process.
KSF's investigation is focusing on whether TCF Financial Corporation's
officers and/or directors breached their fiduciary duties to TCF
Financial Corporation's shareholders or otherwise violated state or
If you have information that would assist KSF in its investigation, or
have been a long-time holder of TCF Financial Corporation shares, and
would like to discuss your legal rights, you may, without obligation or
cost to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (email@example.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170317005175/en/
[ Back To TMCnet.com's Homepage ]