TCF will finally have its day in court this January, when it plans to argue before a judge that the Durbin Amendment is unconstitutional. (Read more)
Congress has instructed the Federal Reserve to limit the amount of money banks can earn from debit card interchange fees. Some in the payments industry predict the Fed’s decision could wipe out 70-90 percent of revenue for banks.
In this exclusive NEXTcast interview, TCF CEO William Cooper tells David S. Evans why he believes legislators did not fully know what they were voting for and predicts if other banks will “follow suit” to stop Durbin.
Executive Bio: William A. Cooper, Chairman & Chief Executive Officer
William A. Cooper returned as Chief Executive Officer of TCF Financial Corporation in July 2008. He had previously been Chief Executive Officer of TCF from 1985 to 2005. Mr. Cooper has also been Chairman of the Board of TCF Financial Corporation and will continue in this capacity.
Mr. Cooper serves as Chairman of the Board of Directors of Friends of Education.
A graduate of Wayne State University, Detroit, Mr. Cooper holds a bachelor’s degree in accounting with majors in economics and finance. He is a certified public accountant, and was a senior auditor for Touche, Ross & Co., Detroit, for four years.
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