The TD Bank Class Action 2024 was brought forward now after the 2017 report from the CBC has come from the CBC regarding the allegations of the high pressure sales tactics by the TD Banks Staff. The TD Bank Class Action Settlement Claim 2024 is for $22 million and this has come after several years the TD has made the customers buy the products at high prices. The TD Bank Class Action Eligibility 2024 criteria will depict if you could get the payment or not. The Toronto Dominion Bank Payout Date 2024 has not been released yet and the payment will be provided for the amount of $22 million to its customers. We are going to discuss the TD Bank Class Action Settlement Claim 2024 through the article mentioned below.
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TD Bank Class Action Settlement Claim 2024
Canada’s Toronto Dominion Bank has been providing the finances to the citizens and in the year 2021, the clients of TD Bank have initiated the fight against the bank over the problem of the repetitive non sufficient funds fines. The consumer has to pay the cost if they tried to complete the transaction without having enough bank balance. The bank was charged under the breach of the money laundering case where they have added extra charges to the transactions whenever the payment was submitted and this has led to suspicions that the bank has been doing the same for a very long time.
The customers of the bank have complained that they were forced to buy the unnecessary products and that too at a very high value. The lawsuit has the shareholders who have bought the shares between 26 August 2021 and 3 June 2024. The complaint also claims that the bank misrepresented the shortcomings in the anti-money laundering case, resulting in a fall in stock prices once the deficiencies were revealed. The bank will be distributing approximately $16 million to the customers who have suffered due to the bank and the exact date on which the settlement amount will be provided has not been mentioned yet. TD has stated that disclosures and the public statements have been consistent with the obligations and the responsibilities for the shareholders.
TD Bank Class Action 2024 Overview
| Post Name | TD Bank Class Action Settlement Claim 2024 |
| Bank Name | Toronto Dominion Bank |
| Country | Canada |
| Settlement Name | TD Bank Class Action Settlement 2024 |
| Settlement Type | Class Action |
| Lawsuit in the year | 2021 |
| Eligibility | Those affected by the money laundering case |
| Payment process | Online |
| Payment Amount | Around $16 million |
| Legal proceedings | Settlement reached after the action |
| Category | Finance |
Understanding The TD Bank Settlement 2024
- The complaint was filed against the Toronto Dominion Bank of Canada in the year 2021.
- The complaint has stated that TD Bank has illegally assessed the non sufficient funds penalties to the clients on the single check.
- The bank will impose the extra cost if the customer’s account is not having sufficient balance to fund or the pre-authorized debit payment.
- In order to settle the claim, the bank has decided to make the payment of around $16 million.
- The lawsuit has the shareholders whose shares have been purchased between 26 August 2021 and 3 June 2024.
TD Bank Class Action Eligibility 2024
- The class action consists of the residents of Canada who have the personal account of the bank.
- The ones who have assessed the non sufficient funds penalties on the pre-authorized debit transaction.
- The shares must have been bought between 26 August 2021 and 3 June 2024.
- The clients have provided enough information on the NSF cost to be assessed for the single payment.
TD Bank Settlement Amount 2024
It has been expected that the clients will be given the payment for the amount of $16 million expectedly and TD will automatically transfer the amount of around $88 million into each of the qualifying member’s bank account if the court has accepted the settlement.
If you qualify to get the benefit, the payment will be released to you automatically and you will be imitated about the same.
TD Bank Class Action Lawsuit Settlement Date 2024
The beneficiaries will be provided with the amount of the breach they have been suspected to and the exact date on which the settlement is said to be provided has not been mentioned yet. It can be said that the Lawsuit Settlement will be done by the month of August 2024 and this is just the predication and the exact date will be mentioned by the court soon.
FAQs
What was the breach under the TD Bank Class Action Settlement Claim 2024?
The breach was that Toronto Dominion Bank has been involved in a money laundering case where they forced the customers to buy unnecessary products.
How much will be provided to the customers under the TD Bank Class Action 2024?
The customers will be provided with the amount approximately $16 million under the settlement claim.
