Angry TD Bank Customers File Class Action Lawsuit Against Canadian Owned TD Bank Over Excessive Overdraft FeesÂ
If you are one of the many angry TD Bank customers who incurred overdraft fees you may be getting some money. The bank has a tentative settlement with angry TD Bank customers. The $70 million settlement includes anyone who suffered an overdraft fee with TD Bank and its subsidiaries. Plaintiffs also named TD Bank subsidiaries Carolina First Bank and Mercantile Bank.
Plaintiffs allege TD Bank assessed overdraft fees in violation of its customer account agreements and applicable laws.
The class-action lawsuit challenges several bank practices:
- Plaintiffs allege TD Bank assessed overdraft fees based on the account’s available balance rather than its ledger balance.
- They also allege TD Bank charged overdraft fees for ATM or one-time debit card transactions on personal accounts.
- In addition, plaintiffs allege they sustained Overdraft Fees on Personal and Business Accounts;
- Furthermore, plaintiffs allege TD Bank assessed overdraft fees for Uber or Lyft ride-sharing transactions.
- Plaintiffs also named Carolina First’s practices of high-to-low posting in the suit.
TD Bank denies liability for each of the claims. The bank also claims the overdraft practices complied with customer agreements and applicable laws. The Court has not decided which side is right.
The settlement covers current and former holders of TD Bank Personal and/or business accounts. It also covers former holders of Carolina First accounts who incurred overdraft fees. Victims whose accounts were closed with amounts owed to TD Bank may be eligible for forgiveness.
Read the website TD Bank, N.A. Debit Card Overdraft Fee Litigation carefully. This website advises you of the benefits that may be available to you under the proposed Settlement and your rights and options as a Settlement Class Member.
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