As per the recent TD Bank Class Action Lawsuit Settlement, the citizens of Canada will be eligible to claim a share of $15.9 million settlement amount. Earlier, a number of customers imposed allegations against the Toronto Dominion bank in 2021 that the bank charged its customers multiple NSF (non-sufficient funds) fines on a single payment without any proper notification. The lawsuit was filed in 2021 which was later approved by the Ontario Superior Court of Justice in 2024. On continuing to this post, you will get all the details on the TD Bank Class Action Lawsuit Settlement and its eligibility criteria along with the settlement amount and payment dates. Read the full post, so that you cannot miss any updates.
TD Bank Class Action Lawsuit Settlement 2024
On February 15, 2024, the Ontario Superior Court of Justice approved the TD Bank Class Action Lawsuit Settlement of around $15.9 million. The lawsuit was initiated by the TD bank customers on the charges that were imposed on the TD bank regarding the Non-Sufficient Funds (NSF) fees on a single check or payment without any prior notification by the bank. In simple terms, when a customer’s account lacks funds to do a transaction, the Toronto Dominion bank charges him/her an NSF fees. However, for the same payment, the bank charged another NSF fees while showing the account still lacks funds.
Thus, the plaintiffs claimed that the customers were not informed that they could be charged repeatedly for the same debit transaction by the TD bank and the bank violated the consumer protection laws. Since the Ontario Superior Court of Justice has now approved the settlement, all the citizens who were charged by the NSF fees multiple time for the same transaction will be provided a share of the settlement as a compensation. It is advised to all the citizens to check their eligibility requirements before applying for the claim or in other case, the payment will be not distributed.
TD Bank Class Action Lawsuit Settlement 2024 Details
| Post title | TD Bank Class Action Lawsuit Settlement |
| Country | Canada |
| Lawsuit filed against | Toronto Dominion Bank, Canada |
| Settlement amount | $15.9 million |
| Class Action hearing date | February 15, 2024 |
| Year | 2024 |
Eligibility For TD Bank Class Action Lawsuit Settlement
- Every citizen will not get a share of the TD Bank Class Action Settlement. You must be aware of the eligibility requirements if you are looking to claim the settlement amount in 2024. The settlement amount will be distributed to each customer who had personal deposit accounts with TD Bank in Canada.
- In addition to it, the person must be charged NSF fine or pre-authorized debit transactions between February 2, 2019 to November 27, 2023 in order to claim the settlement amount. It is advised to all the citizens that the pay out will be distributed to only those who have open deposit accounts in the bank and were fined NSF fees.
How to Claim the TD Bank Class Action Lawsuit Settlement Amount?
The last date to apply for the settlement amount was February 12, 2024. The citizens who were charged with the non-sufficient funds (NSF) fees can apply for the settlement by following the step-by-step procedure in the following points:
- First, you will need to visit the official website of the settlement.
- Later, you will be required to fill out the claim form which will be provided to you.
- All the details must be filled accurately to avoid any errors.
- Submit the claim form as per the instructions and the settlement amount will be distributed on the scheduled date after your application is approved.
TD Bank Class Action Lawsuit Settlement Latest Updates
The Ontario Superior Court of Justice had approved the class action settlement on February 15, 2024 which allows the eligible citizens who were charged with the NSF fees to claim the settlement amount.
A total of $15.9 million settlement amount was distributed starting from the month of April 2024 and the TD bank have deposited a share of around $88 to each eligible citizen of the country.
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David has spent Several years reporting on the oil and gas industry, uncovering the latest trends and technological breakthroughs. His expertise in energy markets and passion for sustainable practices make his articles both insightful and forward-thinking. Davis’s in -depth analyses are a staple for professionals seeking to stay ahead in this dynamic field.