TCF Financial Corp. on Thursday became the first thrift to win a full national bank charter, clearing the way for the thrift industry to shift billions in deposits from its high-cost insurance fund.

The Office of the Comptroller of the Currency approved an application by the Minneapolis thrift to set up four national banks - one each in Minnesota, Illinois, Wisconsin, and Michigan. The agency is expected to approve a similar application from Great Western Financial Corp. by the end of next week.

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