Consumer complaint received 2015-07-15
Company: TCF NATIONAL BANK
State: IL
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
From XX/XX/XXXX - XX/XX/XXXX, I had a personal checking account with TCF National Bank. During this time, I suffered the loss of {$19000.00} in overdraft fees due to the following profiteering Bank practices : Reordering of Transactions : Instead of posting items based on date received, TCF Bank manipulated the sequence of customers ' transactions to generate more overdraft income. The Bank was very sophisticated in squeezing as much as possible from customers like me, frequently pushing what had once been a single overdraft fee of {$35.00} to XXXX or XXXX overdraft fees ( {$100.00} or {$170.00} ) or even more. This practice has been widely condemned and many Banks have been fined for it ; TCF Bank is acknowledged as XXXX of the worst offenders. 

NSF Placement : The Bank essentially charged " fees for fees '', deducting any overdraft fee BEFORE other charges, enabling them to charge multiple fees. When the Bank changed overdraft fee calculation, my fees doubled/tripled. Most heinous of all, this process was virtually impossible to stop, because you could not tell when and how the Bank was going to manipulate the process and charge more fees. As a Judge in another Bank case said, " Under this system, a bone-crushing multiplication of additional overdraft penalties is categorically assured. " Applying Deposits Last : Over time, TCF Bank became more and more adept at making sure that deposits were processed after debits. In one very obvious instance, I deposited cash into my account, which should have been immediately applied to my balance. I then went to a store and made a purchase, which went through. But later the Bank charged me an overdraft fee, claiming that I had made the purchase before the deposit. In this case I had the time stamps from both transactions, but the Bank unbelievably refused to consider a refund. This was just XXXX example of how TCF Bank " gamed the system '' to steal my money. 

Misinformation : I regularly used the online account information to check on the status of my account. But I soon realized it was designed to mislead and misinform the customer. For instance, it always indicated that your balance " included all pending transactions ''. But when I was charged an overdraft fee for an item, I was told it " was pending but not included in the calculation of the balance ''. Supervisors were never immediately available and almost never called back. The more I questioned, the more the Bank refused to give answers or consider refunds. In XXXX letter to me, the Bank actually stated that if I did not like their policies I should just leave. I realized that the pattern of deception was deliberate, and anyone who asked too many questions was definitely NOT welcome. 

Transfers : For a number of years with TCF, I was either able to complete a transfer or it was declined ; I was never charged an overdraft fee. Then I noticed that the Bank would approve transfers ( and my balance would show adequate funds online ) and then after the fact I would be charged an overdraft fee. Upon my inquiry, I would always be told that I had taken the transfer out AFTER a charge had been processed in my account ; but online my account had shown adequate funds ( including pending transactions ) and regardless the Bank had approved the transfer. I could not have been aware of a negative situation but the Bank surely would have been and could have declined my transfer. Instead, they approved it and charged me an overdraft fee. 

The predatory practices of this Bank deprived me for years of a huge part of my income ( I believe at least 75 % of the charges were deceptive ) and cost me enormous stress and lost time trying to find remedies. I live with the understanding that I should have changed banks years earlier ; but still, everyone has a right to be protected from this outright theft. I am therefore seeking the assistance of CFPB in recovering these fees.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation