TCF National Bank agrees to $10M regulatory settlement of BSA matters TCF National Bank, the principal subsidiary of TCF Financial Corporation, announced that it has entered into an agreement with the Office of the Comptroller of the Currency pursuant to previously disclosed deficiencies in its Bank Secrecy Act compliance program. TCF Bank previously disclosed that it may incur a civil money penalty related to its BSA program. TCF Bank has agreed to payment of a civil money penalty in the amount of $10M, or 6c per common share in Q4.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Market Perform from Outperform at FBR Capital... Apollo Education (APOL) downgraded on enrollment uncertainty at BofA/Merrill... Flagstar Bancorp (FBC) downgraded to Hold from Buy at Sandler O'Neill... Global Brass and Copper (BRSS) downgraded to Hold from Buy at BB&T... HSBC (HSBC) downgraded to Neutral from Buy at Goldman... Herman Miller (MLHR) downgraded to Neutral at Longbow... NiSource (NI) downgraded on valuation, post spinoff outlook at Argus... Sysco (SYY) downgraded to Hold from Buy at Deutsche Bank... TCF Financial (TCB) downgraded to Hold from Buy at Sandler O'Neill.