TCF Bank is the latest institution in the legal crosshairs over how it assesses overdraft fees, my colleague Chris Serres reports today. A woman from Savage accuses the bank of manipulating the debits to maximize the number of overdrafts and boosting its fees. "I had no idea how I incurred these fees," Kimberly Pellett told KSTP's Mark Albert, who had the story Friday. In its report Friday, the Minneapolis/St. Paul Business Journal's Jim Hammerand described how the practice works for banks:
Whistleblower has heard these accusations for years, and it's probably no coincidence that Pellett's lawsuit comes a few weeks after a federal judge in California slapped Wells Fargo with a $203 million judgment for similar practices that swelled its overdraft fee revenue. TCF has not yet responded to the allegations.
