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TD Bank Class Action Settlement Payout Date 2024, Claim Form, Deadline, Eligibility and Amount

Post Last Updates by Ankit: Monday, February 26, 2024 @ 1:52 PM

TD Bank Class Action Settlement Payout Date 2024, Claim Form, Deadline, Eligibility and Amount

TD Bank Settlement

News: Toronto Dominion Bank (TD Bank), one of Canada’s largest financial institutions, has recently agreed to a class action settlement. Here’s everything you need to know about the settlement, including the payout date, claim form, deadline, eligibility, and amount.

Overview of the TD Bank Class Action Settlement

In 2021, a class action lawsuit was initiated against TD Bank. The lawsuit stemmed from allegations that TD Bank had unlawfully charged its customers multiple non-sufficient funds (NSF) fees on a single payment or check. TD Bank has agreed to pay $15.9 million to resolve the case. The settlement is awaiting court approval and is scheduled for February 2024.

The TD Bank Class Action Settlement is a significant event for TD Bank customers who were charged multiple NSF fees. It’s crucial for eligible customers to stay informed about the settlement and understand their rights.

About TD Bank :

TD Bank, officially known as the Toronto-Dominion Bank, is a prominent Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. Let’s delve into the fascinating story of this financial powerhouse.

Origins and Merger

The roots of TD Bank trace back to the mid-19th century. Two venerable institutions, The Bank of Toronto (founded in 1855) and The Dominion Bank (established in 1869), laid the foundation for what would become TD Bank. These banks served their communities, facilitated commerce, and supported economic growth.

In 1955, a historic merger took place. The Bank of Toronto and The Dominion Bank joined forces, creating the Toronto-Dominion Bank. This union combined their expertise, resources, and commitment to excellence. The new institution aimed to provide even better financial services to Canadians.

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Key Facts About TD Bank

1. Size and Reach:

  • TD Bank is one of the Big Five banks in Canada.
  • It operates through its TD Canada Trust division, serving over 11 million customers across the country.
  • In the United States, TD Bank operates as TD Bank, N.A., with a network of over 1,200 branches in sixteen states and the District of Columbia.

2. Global Influence:

  • TD Bank Group is the largest bank in Canada by total assets and market capitalization.
  • It ranks among the top-10 banks in North America and the 23rd largest bank globally.

3. Services Offered:

TD Bank provides a wide range of financial solutions, including:

  • Retail and corporate banking
  • Wealth management
  • Insurance
  • Investment services
  • Cash management
  • International banking
  • Merchant solutions.

3. Commitment to Innovation:

  • TD Bank embraces technology and innovation to enhance customer experiences.
  • Its subsidiaries employ over 89,000 employees and serve more than 26 million clients worldwide.

Frequently Asked Questions

1. What is the TD Bank Class Action Settlement?

The TD Bank Class Action Settlement is a result of a lawsuit initiated in 2021, alleging that TD Bank unlawfully charged its customers multiple NSF fees on a single payment or check.

2. How much is the TD Bank Class Action Settlement?

TD Bank has agreed to pay $15.9 million to resolve the case.

3. Who is eligible for the TD Bank Class Action Settlement?

The class includes individuals residing in Canada who are or were personal deposit account holders at TD Bank and were charged NSF fees on pre-authorized debit transactions from February 2, 2019, to November 27, 2023.

4. When is the payout date for the TD Bank Class Action Settlement?

If the settlement is approved, the payout date will be after the hearing scheduled for February 2024.

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