TD Bank Settlement 2024: Eligibility for $88 Class Action Settlement Amount for Every Customer

We want you to read this page in order to obtain all of the details on TD Bank Settlement 2024: All Customers Are Eligible for a $88 Class Action Settlement Amount TD Bank Settlement 2024 …

We want you to read this page in order to obtain all of the details on TD Bank Settlement 2024: All Customers Are Eligible for a $88 Class Action Settlement Amount

TD Bank Settlement 2024

Customers of TD Bank can be eligible for a portion of the $15.9 million settlement as a result of the continuing class action lawsuit. Many customers filed a lawsuit against TD Bank for levying multiple NSF fees without providing enough notice.

As for the allegedly inaccurate NSF fee charges, TD Bank has not admitted any wrongdoing and denies liability.On December 7, 2022, the Ontario Superior Court of Justice ultimately granted the claim class-action status.In December, the law firm Koskie Minsky LLP disclosed a possible settlement for the class-action lawsuit against TD Bank.

We will go into great detail regarding TD Bank Settlement 2024 in this article. This article will also provide us with information on eligibility and the amount of the class-action settlement payment.

Understanding TD Bank Class Action Settlement

In 2021, a class action lawsuit was brought against Toronto Dominion Bank (TD Bank). This complaint alleged that TD Bank had falsely charged its customers multiple non-sufficient funds (NSF) fees for a single check or payment. If there is not enough money in a customer’s account to cover a check or pre-authorized debit payment, the bank will charge these fees.

TD Bank Settlement

The litigation with Koskie Minsky LLP has been settled, and TD Bank has agreed to pay $15.9 million. The settlement is expected to close on February 13, 2024, subject to court approval. If accepted, TD will transfer any outstanding balances straight into the qualified students’ bank accounts.

The settlement amount will be assessed by the court to ensure that it fairly represents the interests of each party. People who want to stay involved in the class action but don’t agree with the proposed settlement can do so through January 26.

TD Bank Settlement Overview

Eligibility for $88 Class Action Settlement

Residents of Canada who currently or previously held personal bank accounts at TD Bank and were hit with non-sufficient fund (NSF) fines on pre-authorized debit transactions made between February 2, 2019, and November 27, 2023 make up the class.

Not every participant in a class action will get compensation. Only those whose accounts were active at the time of the settlement distribution and who were charged NSF fees within the designated period are eligible for payouts.

The standard-form consumer banking agreement of TD Bank purportedly required clients to pay a $48 NSF fee. The lawsuit claims that clients were not adequately informed about the possibility of having several NSF fees assessed for a single payment.

TD Bank Settlement Amount for Every Customer

On February 12, there will be a hearing to decide whether to approve the proposed $15.9 million settlement. If the court accepts the settlement next month, TD would deposit about $88 into each qualifying class member’s bank account right away.

If approved, TD will send outstanding funds straight into the bank accounts of eligible class members; to put it another way, all you need to do to grab your piece of the action is to seize this chance.

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