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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
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122 thoughts onTD Bank NSF Fees $41M Class Action Settlement
Has anyone out there received any money from the TD Bank NSF settlemen
t? Has anyone received any recent communication about it. Would love to know from anyone out there.
They emailed me and said September and didnt no the amounts people were getting. They seem to be in no rush I am sure they recieved there cut already
I received $6.12 from TD Bank. This amount was credited to my account a few days ago and was labeled ODCLASSACTION. I am sure the charge was for at least $35 so they still pocketed the rest.
I got a notice i the mail saying mine will arrive today
Update?
Any update
Anyone receive a check yet ?
I’ve paid close to 3000 in fees and today they sent me 40 dollar check. I also had a negative balance when I closed my account and I was not awarded funds for that as well
I will be calling in the morning.
I just got a check for $24.20 lmao
I got 40 bucks what a joke
I would love a breakdown of this settlement. The people who got screwed get $20 why the lawyers get millions! We should be able to see an accounting on this settlement.
Update, found the breakdown. The 2 people who brought this suit only got $7500.00 each while the class council took in over 10.5 million. Wtf kind of justice is that!
Today $24 way damn less then the fees that acrrued in the checking account sometime then fees will be almost $300 or so
You know same here damn $24 today pathetic…all them fee that were crazy.. now they call themselves Truist
Hello dear. No. I have not heard anything about it.
Are the settlement checks being mailed in September (2022)? And do you know the amount? Thank you.
Pls let us all know when someone has received a check already.
Just got check today 9 .16.22….$24 a joke for all the over the limit fee and etc they took from all us
Thank you Theresa for your reply. To be clear, it’s my understanding the checks will start being mailed in September 2022. Correct?
Yes, that was the information I was given. September 2022 checks will be mailed out.
Where is my cut of this class action settlement? I got the same post card most of these people got and i am still waiting. can you guys post a ETA so we have some clarity please.
I emailed the contact information for the attorney handling the check distribution and they replied that the checks will be going out in September
Where’s my Check
I’m still waiting for my money also.
Please send me my reimbursement check as I am in need
The final hearing was may 3rd it’s now July 2nd..were is OUR reimbursement check they were quick to take it out of our account now kindly send it back to us A.S.A.P as we are all in a recession and can use this money…thank you
Don’t hold ur breath mine was $24 just got today nearly not as close as the fee they charge…..
I would like to know how to start another suit against them I have bank statements to prove all the times they charged mebut I did not receive a letter and I am fighting with them right now because they keep charging me odf when the money is there and also for not having money to cover their monthly fee. I have a small business I can’t afford to keep paying them
You know all them fees we got charged almost $300 or so so and if you didn’t make deposits in time to cover it another fee.then they rerun payment that fee ,nsf fee and etc…just to send $24 today
Add me too