TCF Bank Tops 2016 Consumer Complaint List

MINNEAPOLIS (WCCO) — A Twin Cities-based bank has made the naughty list this year.

The website LendEDU has ranked TCF National Bank as the worst bank of 2016, according to data compiled by the Consumer Financial Protection Bureau.

The ranking was determined by the amount of complaints filed against the regional bank this year (213) per billion dollars deposited ($17.3 billion in 2016).

Citigroup Inc, which is considered a diversified bank, was number two on the list, with 8,065 complaints. However, they deposited more than 55 times the amount TCF did this year.

Wells Fargo was number three, with 10,204 complaints against $1.2 trillion in deposits.

A TCF spokesperson told CBS they find the comparison between themselves and Goliath banks to be unfair.

“We disagree with the methodology of this study as the analysis does not factor in the types of transaction accounts and the mix of retail versus commercial accounts between the different financial institutions,” said the spokesperson.

Click here to view the full list.

More From WCCO | CBS Minnesota

Good Question
Best Of Minnesota

Watch & Listen LIVE