TD Bank Penny Arcade Coin-Counting Machines Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

TD Bank has agreed to settle a class action alleging that their “penny arcade” coin-counting machines did not accurately count the coins that customers deposited. Users deposited coins into the machines, and the machine purportedly counted the coins and gave them a receipt for the amount. The receipts could be taken to the teller and the amount either deposited into the customer’s account or given to the customer in cash. 

Docket Number:

16-cv-3420 (D.N.J.); 16-cv-3435 (D.N.J.); 16-cv-2621 (D.N.J.); 16-cv- 2374 (D.N.J.); 16-cv-2395 (D.N.J.); 16-cv-2682 (D.N.J); 16-cv-2919 (D.N.J.); 16-cv-2918 (D.N.J.)

Company: TD Bank NA

Filing Deadline: October 27, 2017

Class Period: April 11, 2010 to July 12, 2017

Objection Deadline: October 27, 2017

Exclusion Deadline: October 27, 2017

Final Approval Hearing: January 11, 2018

Proof of Purchase:

No, but claims are limited for those who did not have a TD account and cannot provide documentation.

Eligibility:

You may be eligible if you used a TD Bank Penny Arcade coin-counting machine to exchange coins for cash or a TD Bank account credit between April 11, 2010 and July 12, 2017.

If you are a class member who used the Penny Arcade machines while you had a TD Bank account, you will receive payment automatically, in the form of an account credit (if you still have an account), by check, or by other funds transfer. If you are eligible for an automatic payment, you do not have to fill out a claim form, but you must be sure the settlement administrator has your current address.

If you used the Penny Arcade machines when you did not have a TD Bank account, you must submit a claim form. 

Typical Settlement Amount:

Varies. Payments will be calculated by applying a multiplier of 0.26%, based on third-party testing of the machines’ accuracy. A pro rata share of settlements funds not claimed may be added. Payments will therefore likely be at least 26 cents per $100 exchanged during the class period. Class members who did not hold accounts with the TD Bank and cannot provide documentation are limited to claims o

Total Settlement Amount: $7,500,000

Class Representative Proposed Incentive Fee:

$5,000

Law Firms:
Denittis Osefchen PC
Nagel Rice
Wolf Haldenstein Adler Freeman & Herz

Claim Form: TD Bank Penny Arcade Settlement Claim Form

Case Name: Macias v. TD Bank, N.A., Feinman v. TD Bank, N.A., Luce v. TD Bank, N.A., Filannino-Restifo v. TD Bank, N.A., Diaz v. TD Bank, N.A., Spector v. TD Bank, N.A., Krulan v. TD Bank, N.A., McEnerney v. TD Bank, N.A.

Settlement Website: TD Bank Penny Arcade Settlement Website

Claims Administrator:
Garden City Group, LLC

Claims Administrator Contact Information:

Penny Arcade Settlement
c/o GCG
P.O. Box 10470
Dublin, OH 43017-4070
1-855-312-1974
questions@PennyArcadeSettlement.com

Tags: Coin-Counting Machines, Your Bank