An investigation for investors in TCF Financial Corporation (NYSE:TCB) shares over potential securities laws violations by TCF Financial was announced and NYSE:TCB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/28/2017 -- An investigation on behalf of investors in NYSE:TCB shares was announced over potential securities laws violations by TCF Financial and certain of its directors and officers.
Investors who purchased shares of TCF Financial Corporation (NYSE:TCB), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of TCF Financial Corporation (NYSE:TCB) concerning whether a series of statements by TCF Financial regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 19, 2017, the Consumer Financial Protection Bureau ("CFPB") filed a lawsuit against TCF Financial Corporation's principal subsidiary, TCF National Bank, alleging that TCF National Bank 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 National Bank 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 National Bank 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 the process.
On February 27, 2017, NYSE:TCB shares closed at $17.57 per share.
Those who purchased shares of TCF Financial Corporation have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego