Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Update:
- This settlement is paying out up to $48.39 as of Sept. 2, 2022.
- Congratulations to everyone who filed a claim and got paid!
TD Bank agreed to pay over $41 million as part of a class action lawsuit settlement to resolve claims that it wrongfully charged non-sufficient funds fees, or NSF fees, after retrying transactions.
The settlement benefits consumers who were charged retry NSF fees by TD Bank during various time periods between Nov. 30, 2008, and Sept. 7, 2021.
Eligible periods vary based on state according to applicable laws. For example, the Illinois class period starts on Nov. 20, 2008 while the Colorado class period starts on Nov. 30, 2015. A full list of each state’s Class periods can be found in the settlement agreement.
TD Bank is a North American bank that serves consumers across the United States and Canada. The bank offers checking accounts, credit cards, investment services, savings accounts, borrowing options, and other services.
According to a 2019 amended class action lawsuit, TD Bank fails its consumers by charging unfair NSF fees. The bank allegedly charges NSF fees on failed transactions after these transactions were attempted for a second time. Each of these fees is between $30 and $35 which can quickly add up when multiple NSF fees are charged.
The plaintiff says she attempted a PayPal transaction in 2018 that was denied due to insufficient funds. As a result, she was reportedly charged an NSF fee of $35. Later, despite the plaintiff not attempting to initiate the transaction, TD Bank allegedly tried to clear the transaction again. When this second unauthorized attempt failed, TD Bank charged another $35 fee, the class action lawsuit contends. This same situation allegedly happened again a few months later.
According to the TD Bank class action lawsuit, these retry NSF fees violate the bank’s account agreements. The plaintiff argues that countless other TD Banks could have experienced similar unfair NSF fees.
TD Bank hasn’t admitted any wrongdoing but agreed to resolve the class action allegations with a $41.5 million settlement. This settlement includes $20.75 million for cash payments and $20.75 million in debt relief benefits.
Under the terms of the TD Bank settlement, Class Members will receive a cash payment to compensate them for retry NSF fees they paid. Payments will not be a full refund, but will be proportional to reflect the amount each Class Member who was charged a retry NSF fee. Class Members who were charged numerous fees will receive a higher payment than Class Members who were charged only one fee.Â
The settlement also provides debt forgiveness to Class Members whose accounts were closed with a negative balance. Under the settlement terms, any debt owed to TD Bank will be reduced for each retry NSF fee that a Class Member owed to the bank but did not pay before account closing. Like with the settlement’s cash payments, this debt reduction will vary depending on the amount paid in fees.
The deadline for exclusion and objection was March 16, 2022.
The final approval hearing for the settlement is scheduled for May 3, 2022.
Class Members do not have to take any action to benefit from the settlement. Unless they exclude themselves, eligible consumers will automatically receive a payment from the fund.
Who’s Eligible
The settlement benefits consumers who were charged retry NSF fees by TD Bank during various time periods between Nov. 30, 2008 and Sept. 7, 2021. Eligible periods vary based on state according to applicable laws. For example, the Illinois class period starts on Nov. 20, 2008 while the Colorado class period starts on Nov. 30, 2015. A full list of each state’s Class periods can be found in the settlement agreement.
Potential Award
Varies
Proof of Purchase
NA
Claim Form
No claim form required.
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 you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
N/A
Case Name
Perks, et al. v. TD Bank, N.A., Case No. 1:18-cv-11176 in the U.S. District Court for the Southern District of New York
Final Hearing
05/03/2022
Settlement Website
Claims Administrator
Settlement Administrator
Perks et al v TD Bank, N.A.
c/o RG/2 Claims Administration LLC
P.O. Box 59479
Philadelphia, PA 19102-9479
retryNSFfeessettlement@rg2claims.com
800-274-6605
Class Counsel
Lynn A Toops Esq
Vess A Miller Esq
Richard E Shevitz Esq
COHEN & MALAD LLP
Jeffrey D Kaliel
Sophia Goren Gold
KALIEL PLLC
Jeffrey Ostrow
Jonathan M Streisfeld
KOPELOWITZ OSTROW PA
James J Bilsborrow Esq
WEITZ & LUXENBERG PC
Defense Counsel
Danielle Oakley Esq
COUNSEL FOR TD BANK
Read About More Class Action Lawsuits & Class Action Settlements:
- Chipotle Hidden Delivery Fees $4M Class Action Settlement
- StubHub Ticket Fees Class Action Settlement
- Global Tel Link AdvancePay Funds $67M Class Action Settlement
- RiverLink Unpaid Toll Fees $2.5M Class Action Settlement
ATTORNEY ADVERTISING
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2024 Top Class Actions® LLC
Various Trademarks held by their respective owners
This website is not intended for viewing or usage by European Union citizens.
122 thoughts onTD Bank NSF Fees $41M Class Action Settlement
Add me! I recieved a letter in 2012 for a class action suit against TD. The letter stated that I was a part of the accounts to be reimbursed. They stole $600 in Overdrafts and $900 straight from my personal checking account in 2009. The branch was in Haledon NJ. They got shut down a few weeks after I got notice. They had told me I had to pay the $600 and I made them report it to the fraud department. I had an account with them for a year. How do I find out when I will recieve my money back or if I’m actually part of the class action suit? I have moved since then. It said I didn’t need to go to court or take action that I should just receive a letter and the benefit from the court.
I received a letter add me i was robbed by td bank
I to received the letter. How soon can we expect our settlement?
Add me
I would love to get my money back that they robbed me of. They charged astronomical fees and replicated them and then some. I paid the money that they said I owed and closed my account the same day I paid the NSF fee. The Nerve!!!!
It’s my money and I want it right now!!! I’m glad to be a part of this class action law suit and hope it won’t be long before I get my money back…
I received a letter about this that I was a part of it and im glad because years ago I went to bed with like a dollar in my account and woke up to a negative balance of $-1,300.00 and had to pay it all back.
I received notice of this suit. I had account with them for that time period until 2017. They did charge astronomically overdraft. For what I understand we didn’t have to do anything unless we wanted to be excluded.
Add me
Please add me
Add me