In re: Checking Account Overdraft LitigationCase No. 1:09-MD-02036-JLK
The purpose of this website is to inform you about a proposed Settlement of this class action lawsuit and about all of your options before the Court decides whether to give Final Approval to the Settlement. This website explains the lawsuit, the Settlement, your legal rights, what benefits are available, who may be eligible for those benefits, and how to get them.
A $62 million Settlement has been reached in class action lawsuits claiming that TD Bank, N.A., TD Banknorth, National Association and Banknorth, National Association (collectively, "TD Bank") improperly posted Debit Card Transactions from highest to lowest dollar amount to increase the number of Overdraft Fees charged to Account holders. TD Bank maintains there was nothing wrong with the posting process used. The Court has not decided which side is right.
The complaint in the lawsuit is posted on this website and contains all of the allegations and claims asserted against TD Bank. TD Bank denies the claims in the lawsuit and maintains there was nothing wrong about the posting order used.
You are a member of the Settlement Class if you had a TD Bank consumer Checking Account accessible with a TD Bank Debit Card, at any time between December 1, 2003 and August 15, 2010 and were charged one or more Overdraft Fees as a result of TD Bank’s practice of posting Debit Card Transactions from highest to lowest dollar amount.
Payments or Account credits will be automatically made to Settlement Class Members who do not opt-out of the Settlement. Details on the formulas for determining payment amounts, Account credits, and other Settlement benefits are included in the Long Form Notice and the Settlement Agreement, both available on this website.
If you would like further information about the claims asserted in this case, you can review a copy of the Settlement Agreement here.
NOTICE: This website provides a summary of the Settlement and is provided for informational purposes only. In the event of any discrepancy between the text of this website and the original text upon which it is based, the text of the original document shall prevail.
1 All capitalized terms herein have the same meanings as the defined terms in the Settlement Agreement, a copy of which may be found on this website.
Questions? Contact the Settlement Administrator at 1-877-271-1496 or info@TDBankOverdraftSettlement.com
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