Report: Minnesota students paid $620K in TCF Bank card fees

MINNEAPOLIS (AP) — A new report says TCF Bank made more than $620,000 in card fees from University of Minnesota students on the Twin Cities and Duluth campuses last school year.

The U.S. Public Interest Research Group released a study last week that says 44% of the university’s students have TCF bank accounts.

Kaitlyn Vitez is the consumer advocacy group’s higher education campaign director. Vitez tells Minnesota Daily that University of Minnesota students pay an average of $22 in the bank’s fees annually.

Vitez says the amount of fees paid by students ranged from just a few dollars to potentially hundreds of dollars.

The university entered into a paid marketing agreement with the bank in 2003. TCF Bank paid the school $1.6 million in its latest contract to push its bank cards on campus.

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Information from: The Minnesota Daily, http://www.mndaily.com/

Associated Press

Associated Press

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