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:A $70 million payment will be used to settle more than one class action against TD Bank and two other banks it owns, Carolina First Bank and Mercantile bank, claiming they charged improper overdraft fees. The complaints alleged the banks charged overdraft fees in a manner inconsistent with customer account agreements and state laws. The complaints also claimed that the banks’ practices violated Regulation E and the National Bank Act’s usury limitations.
Docket Number:6:15-mn-02613-BHH (D.S.C.)
Company: TD Bank NA
Filing Deadline: February 7, 2020
Objection Deadline: December 4, 2019
Exclusion Deadline: December 4, 2019
Final Approval Hearing: January 8, 2020
Proof of Purchase:You do not need to submit proof. Also, if you are a member of only the South Financial Class or Uber/Lyft Class, you do not need to submit a claim form.
Eligibility:You may be eligible if you are a member of any of six classes defined for this combined action. They include a TD Available Balance Consumer Class, a South Financial Class, a Regulation E Class, a Usury Class, an Uber/Lyft Class, and a TD Available Balance Business Class. The classes have different class periods and conditions. For more information see the notice at https://www.tdbankoverdraftclassaction.com/Content/Documents/Notice.pdf.
Typical Settlement Amount:Benefits include $43 million for cash compensation and $27 million of reductions in amounts owed to TD Bank by those whose accounts were closed with negative balances. Payments will be distributed according to formulas worked out as part of the settlement.
Total Settlement Amount: $70 million
Class Representative Proposed Incentive Fee:Up to $10,000 each
Law Firms:
McCune Wright Arevalo, LLP
Webb Klase & Lemond LLC
Claim Form: TD Bank Overdraft Fee Settlement Claim Form
Case Name: In re: TD Bank, N.A. Debit Card Overdraft Fee Litigation
Settlement Website: TD Bank Overdraft Fee Settlement Website
Claims Administrator:
Epiq Class Action & Claims Solutions, Inc.
TD Bank Overdraft Litigation
c/o Epiq
P.O. Box 6006
Portland, OR 97228-6006
1-877-588-5722