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Class Action Tracker: A TD Bank Fee Lawsuit Has Been Filed

Law360 has recently published an article which looks directly at how TD Bank takes in hundreds of millions of dollars in unlawful fees by hitting its American customers with multiple penalties for nonsufficient funds transactions. Within this, a New York woman has filed a class-action lawsuit last Monday, seeking repayment and punitive damages. Here’s what we know about the TD Bank Fee Lawsuit:

The suit pending before Manhattan U.S. District Judge Deborah A. Batts was lodged on behalf of a putative class by Mary Jennifer Perks, a checking customer at the $100 billion bank, which is based in Toronto and has its U.S. subsidiary’s headquarters in Cherry Hill, New Jersey.

While TD Bank is in the right to charge a single $35 NSF fee for a single failed consumer transaction, the bank routinely assesses unlawful, multiple NSF fees by resubmitting transactions even when it “knows full well” the transaction will fail again, according to the complaint.

“TD Bank NSF fees fall disproportionately on racial and ethnic minorities, the elderly and the young, many of whom regularly carry low bank account balances,” the suit claims.

The suit says TD Bank is unlike other big banks, which do not engage in the allegedly abusive practice.

Perks says she was hit with a total of $140 worth of NSF fees earlier his year when she tried to make two PayPal transfers worth a total of less than $6.

The suit alleges further that the bank’s agreement with customers makes material misrepresentations and omits that fact that it will attempt to resubmit failed transactions for an additional $35.

The proposed class action claims for breach of contract, violation of New York law prohibiting deceptive business practices and unjust enrichment. It seeks repayment of the alleged overcharges to all customers, an order blocking future multiple charges, and damages.

Editor’s note on the TD Bank Fee Class Action Lawsuit:

This piece is written about the recent TD Bank Fee Lawsuit. If you are considered eligible to be among the class of consumers described in the class action, you may eventually be able to participate in receiving any compensation the court may award.

If you believe that what is alleged in the TD Bank Fee class action has affected you, please don’t hesitate to reach out to us. We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join the consumer class action. If interested, please send an email to, find us on Twitter, FacebookInstagramLinkedIn, or even connect with us directly on our website! We look forward to hearing from all of you.

The case can be searched for under the name:

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8 thoughts on “Class Action Tracker: A TD Bank Fee Lawsuit Has Been Filed”

  • John says:

    All banks re-submit in an effort to recover money. If she didn’t like the policy she should have sought out another bank that would cover her overdrafts and not charge her. I bank with RD in Florida and find them very accommodating.

  • Kevin carithers says:

    That’s about right for TD bank…. I put a cash deposit in everyday for my business account, they held the cash deposits for 3 days while checks were trying to clear(which they declined and continued to do so until they racked up 185.00 per charge) even while cash deposits that would have covered everything in the first place was trying to go thru. No one would explain how I ended up with over a thousand dollars in NSF Fees even with money sitting in the bank.

  • Jennifer says:

    I am absolutely NO fan of TD Bank, but when it comes to this particular situation it is actually PayPal that is re submitting the transaction, not TD Bank. PayPal will submit your transaction, to your bank, up to 3 times if it is returned to them as not having enough funds in the account.

  • Myriam Pierre says:

    I had accounts with them.I will definitely agree that they really are notorious with this thing they do.It should have been mentioned that when you have that 35.00 fee for non sufficient funds if you do not clear it in ten business days they will add an additional 10.00 fee.So much for a bank which claims to offer the service you’ve come to expect.

  • eugene desotell says:

    TD bank overcharged my account twice with fees then said I owed them money because they over drew the account. I reached out to the law firm who filed this suit and they tell me they are no longer looking for people who this happened to they apologize for saying the following: If you believe that what is alleged in the TD Bank Fee class action has affected you, please don’t hesitate to reach out to us. We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join the consumer class action, The firm secretary said this is not the case.

  • Amiee Miller says:

    Your actual balance is showed on top and your ledger balance is illegible. And they do not explain when opening the account that the debit card can be used 5 time a day to a balance you think you have… only for a maximum of $175 overdraft fees per day… while it seems you have money in the bank… shame on TD and happy for the $70 million dollar settlement but they are still doing this and today to me. I tried to put ZERO stars.

  • Roe says:

    I changed banks I believe in 2015 or 2016 to Chase and have no problems now. I found a statement from December 2012 in which I was charged over 4,000 in fees for the year. Glad I will re-coop some monies from the class action. asked lawyer when, he said checks or deposits to accounts should start to be disbursed sometime starting in March.

  • STEVEN KLINE says:

    hOW DO WE KNOW AND FIND WHATS WE ARE BEING PAID. Were do we go to see our payment.

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