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TCF to be part of Treasury warrant auction

Last update: November 20, 2009 - 7:17 PM

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TCF to be part of Treasury warrant auction

The Treasury Department said it will auction warrants, acquired as part of last fall's financial bailout, for TCF Financial Corp. of Wayzata and two other banks. Treasury will auction warrants for J.P. Morgan Chase & Co., Capital One Financial Corp. and TCF over the next month. The three banks received government money totaling $28.9 billion, which they have since repaid. Warrants are financial instruments that allow the holder to buy stock in the future at a fixed price.

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