Know the TD Bank Class Action Lawsuit Settlement Amount 2024: Eligibility and Payment Dates

Shortly after CBC alleged that TD Bank was engaging in aggressive sales techniques, a class action rolled out against TD Bank. The TD Bank class action lawsuit settlement amount was approximately $22 million for the year 2024, and the lawsuit that brought several years later alleged that TD Bank was forcing people to purchase products at very exorbitant prices. First, one has to see if they qualify from the eligibility criteria of this Toronto Dominion Bank Class Action in 2024. TD Bank Class Action Payment Date 2024 is yet to be announced but should be released soon. On this page you will get complete information on class action lawsuit settlement amount and payment date.

TD Bank Class Action Lawsuit Settlement Amount 2024

Toronto Dominion Bank of Canada has provided financial assistance to people living in the country. In the year 2021, the bank’s customers complained that the bank and its personnel continuously penalized fund shortfalls. One had to pay extra fees any time there was little or no balance in his/her account during a transaction. Later, the bank stood accused of money laundering on grounds that citizens had to pay extra fees after every transactions. This fraud and money laundering was going on for a long time.

Customers also found that they were forced to buy things they did not need, sold by the bank, and that too at very high prices. This lawsuit is for customers who purchased shares between 26-08-2021 to 3-06-2024. The bank has denied all the allegations and said that there was no reduction in stock prices. Approximately $22 million will be awarded to customers, but a claim settlement date has not yet been specified. In this article you will get complete information about the new lawsuit and its settlement.

Toronto Dominion Bank Class Action 2024

Post Title	TD Bank Class Action Lawsuit Settlement Amount 2024
Bank	TD – Toronto Dominion Bank
Country Name	Canada
Claim Settlement name	TD Bank Class Action Settlement
Type of Settlement	Class Action
Filing of Lawsuit In	2021
Toronto Dominion Bank Class Action Eligibility 2024	Those affected by the money laundering case
Application date	13 May 2024
Payment process	Online
TD Bank Class Action Lawsuit Settlement Amount 2024	Around $22 million
TD Bank Class Action Payment Date 2024	Expected in August 2024
Legal proceedings	Settlement to be given only after the prior action
Post Type	Finance

What Is TD Bank Lawsuit About?

• Customers filed a money laundering case against Canada’s Toronto Dominion Bank in 2021.
• Customers complained that TD Bank charged illegal penalties on single check transactions.
• The bank also imposed additional costs if the customer did not have sufficient balance in his account.
• It is where the bank staff used to exert maximum pressure on the customers to buy unwanted products at higher prices, from 26 August 2021 till 3 June 2024.
• After the case filing, the bank has now resolved to pay about $22 million to customers.

Toronto Dominion Bank Class Action Eligibility 2024

To receive the settlement amount, you must fulfill certain eligibility conditions:

• The beneficiary must be a resident of Canada and have an individual account with the bank.
• The beneficiary should receive a penalty due to shortage of funds in the account.
• Customers must have purchased shares between August 26, 2021 and June 3, 2024.
• Customers must have details of NSF cost for a single payment.

TD Bank Lawsuit Settlement Amount 2024

After the breach, the bank has decided to provide the amount to the customers and approximately $22 million will be given to the customers. TD Bank will automatically transfer the amount to the customers’ bank accounts, and the amount will be provided once the settlement claim is accepted by the court.

The amount will be given after deducting legal fees, taxes and administrative expenses.

What Is The TD Bank Class Action Payment Date 2024?

To receive the settlement amount, each Class Member has to submit the claim form and upload the required documents on the website. The claim form has to be submitted by May 3, 2024, and you will get the benefit only when you have submitted the form. The payment date has not been released yet, but is likely to be in August 2024.

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