TCF Financial fined $10M for lapses in monitoring
MINNEAPOLIS (AP) — TCF Financial Corp. has been fined $10 million for failing to adequately monitor suspicious bank transactions, including some with possible links to terrorism.
Federal officials accused the Wayzata bank of failing to comply fully with the Bank Secrecy Act, which requires financial institutions to make sure they aren't used to launder money, the Minneapolis Star Tribune reported.
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