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Consumers could receive payments or account credits from a $32.225 million TD Bank settlement resolving claims the bank charged illegal overdraft fees.
The settlement benefits current and former TD Bank personal checking account holders whom the bank charged certain โAPSNโ fees between June 27, 2019, and Sept. 30, 2022.
APSN fees are overdraft fees on transactions e authorized with a positive account balance but later paid by TD Bank when the account balance was insufficient.
According to the class action lawsuit, TD Bank violated its account terms by assessing unauthorized overdraft fees. These fees were allegedly charged on transactions despite TD Bank previously approving the transactions with a positive, sufficient balance.
TD Bank is a consumer, small business and commercial bank that offers checking accounts, savings accounts, lending opportunities and more.
TD Bank hasnโt admitted any wrongdoing but agreed to pay $32.225 million to resolve the overdraft fee class action lawsuit.
Under the terms of the TD Bank settlement, $21.975 million of the net settlement fund will provide payments to consumers who paid APSN fees. Class members can receive a proportional share of the net settlement fund based on the amount they paid in APSN fees during the class period. No payment estimates are available at this time. Current TD account holders will receive their payments as account credits. Class members without current TD Bank accounts will receive check payments.
The remaining $10.25 million of the settlement comes from reductions in outstanding balances owed. TD Bank agreed to forgive outstanding balances linked to APSN fees.ย
The deadline for exclusion and objection is Sept. 14, 2024.
The final approval hearing for the settlement is scheduled for Oct. 10, 2024.
No claim form is required to benefit from the TD Bank settlement. Class members who do not exclude themselves will automatically receive a check or account credit.
Whoโs Eligible
Current and former TD Bank personal checking account holders whom the bank charged certain โAPSNโ fees between June 27, 2019, and Sept. 30, 2022
Potential Award
Varies
Proof of Purchase
N/A
Claim Form
N/A
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If youโre unsure if you qualify, please read the FAQ section of the Settlement Administratorโs website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you donโt qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Exclusion Deadline
09/14/2024
Case Name
Burns, et al. v. TD Bank NA., Case No. 1:21-cv-18194-KMW-AMD, in the U.S. District Court for the District of New Jersey
Final Hearing
10/10/2024
Settlement Website
Claims Administrator
Burns v TD Bank Settlement Administrator
P.O. Box 5826
Portland, OR 97228-5826
888-695-6078
Class Counsel
Jeffrey D. Kalielย ย
KALIEL GOLD PLLC
Adam Webb
Franklin Lemond Jr.ย
WEBB, KLASE & LEMOND LLC
BURSOR & FISHER PA
GOLOMB SPIRT PC
Defense Counsel
Lucus A. Ritchieย
Joshua Dunlapย
PIERCE ATWOOD LLPย
Susan M. Leming
BROWN & CONNERY LLP
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93 thoughts on$32.225M TD Bank overdraft fee class action settlement
Yeah I been charged for going over 10$ and I put the money in the bank the next morning
I too was a victim of theirs. They very frequently charged my account these fees. It got so bad that it left an outstanding balance due to them. I left their bank because of it. They say I owe them when in reality, They owe me. I pray I get some money back
Okay
Add me
Unfortunately I to have been a victim of the outstanding overdraft fees. From T.D bank for 4 years now. Had to move or leave banking . Cause of the fees overdraft. Funds garnished every pay cycle. Astronomical fees. Whatโs next.
Iโve complained numerous times about, TD Bank Finally, I get back my money. They stole. Closing out.
I have been with TD for a long time and I fell victim to the overdraft fees and sometimes it was while my direct deposit was pending, which was the same day the overdraft took place.
I have been over charged by TD bank 15 dollars over draft fee itโs out rages itโs not fare or right like come I put 10 dollars in there it was gone smh they are rip off
Iโm a victim as well I have been charge overdraft fees every direct deposit that hits my checking account
I was a victim too