TD Bank Class Action Lawsuit Settlement Amount 2024: The TD Bank class action lawsuit settlement arises from the allegation that TD Bank was involved in some improper financial practices by charging multiple non sufficient funds fees on the same transaction. This legal dispute has resulted in a significant settlement following approval from the Ontario superior court of justice which is designed to compensate suspected customers and ensure fair banking practices.
This lawsuit specifically targets the policies of the bank regarding NSF fees levied when a transaction exceeds the balance in account. The candidate alleged that TD Bank improperly imposed additional NFS fees on a single payment or check each time it was represented for payment. This leads to multiple charges from one transaction attempt. This practice raised the concerns about the potential breaches of the trust of consumer and financial regulations.
The TD Bank Canada NSF fees settlement has concluded with eligible class members already receiving their compensation. After a simple online claim process the settlement provided around C$150 per account to customers who got Improperly charged for multiple NSF fees from February 2019 to November 2023. The solution promotes fair banking practices.
TD Bank Class Action Lawsuit Settlement Amount 2024
| Article | TD Bank Class Action Lawsuit Settlement Amount 2024 |
| Bank | Toronto Dominion Bank (TD Bank Canada) |
| Country | Canada |
| Claim Settlement | TD Bank Class Action Settlement |
| Settlement Type | Class Action |
| Application date | 13 May 2024 |
| Payment process | Online |
| TD Bank Class Action Payment Date 2024 | August 2024 (Expected) |
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Canada TD Bank Class Action Lawsuit Settlement Amount 2024
After a number of legal proceedings that started with issuing a statement of claim on February 4, 2021, this case moved through several critical stages, including the bank’s defense statement. After this, a motion for summary judgment and an essential agreement on the proposed settlement occur.
According to the settlement terms, eligible class members, which include mainly individuals who had personal deposit accounts at TD Bank during the specified period and were charged NFS on re-presented and pre-authorized debit transactions, are going to get compensation.
The total amount of compensation per eligible account is around C$150. All those can change depending on the number of people asking for a claim and the specific circumstances of their fees.
Toronto Dominion Bank Class Action Eligibility 2024
If you want to be eligible for compensation from that TD Bank class action lawsuit settlement, then you should follow the eligibility criteria given below: –
- The candidates must be residents of Canada.
- One must have held a personal deposit account with TD Bank during the specified period. A personal deposit account must have been subjected to at least one NSF fee by TD Bank.
- The candidate must have been charged an NSF fee by TD Bank on a pre-authorized debit transaction.
- The NSF fees must have been charged between February 2, 2019 and November 27, 2023. This time frame corresponds to the period during which the alleged improper fee-charging practices were said to occur.
- During the settlement distribution, the personal deposit account must have been active.
TD Bank Class Action Lawsuit Settlement Amount 2024
The eligible class members of the TD Bank Canada Class Action Lawsuit Settlement are going to get around C$150 per account. Although the actual payment amount can vary based on a number of factors,
- The final amount per individual may adjust depending on the total number of candidates participating in the settlement.
- If the candidates are suffering from any additional NSF fees that are beyond the typical scenario the lawsuit covers, then this might influence the final payment amount.
- The Canada TD Bank Class Action Lawsuit Settlement Payment 2024 given to each candidate also accounts for deductions such as settlement administration expenses, attorney fees, and possibly a service award for the class representatives.
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TD Bank Canada class action lawsuit settlement Claim Process
The deadline for the submission has already passed, and the last day to claim TD bank settlement was May 13, 2024. The process by which the citizens could make their TD Bank Canada class action lawsuit settlement claim is:
- All the eligible candidates are directed to access a dedicated TD Bank settlement website, which is created mainly for managing claims related to the lawsuit.
- After visiting the settlement website, all the candidates needed to carefully read through all the provided instructions in order to understand the eligibility criteria, the required documents, and the claim form.
- The website also featured an online application form that candidates could fill out electronically.
- All the candidates had to accurately fill in the claim, making sure that all the information was complete and truthful.
- Once the Toronto Dominion Bank Class Action Settlement claim is complete, candidates have to submit it through the online portal provided on the settlement website.
- It is also important for the candidate to keep a copy of this confirmation for record purposes.
- The settlement website supports candidates who had questions or encountered any kind of difficulties during the Toronto Dominion Bank Class Action Settlement application process.
The TD Bank Class Action Payment claim process is already over, and thousands of victims have already applied for the settlement money, which has yet to be entered into their bank accounts. It may take a month for the TD Bank Class Action Settlement claim payment to arrive. If there is any new update, you will get it through the official website.