TD bank settles excess overdraft class action

Posted on: September 25th, 2012 by Steve Larson

Plaintiffs and TD Bank, N.A. have agreed to a settlement of an excessive overdraft class action pending in the Southern District of Florida as part of the multidistrict litigation pending there.  Plaintiffs and the proposed Settlement Class would release their claims in exchange for TD Banks total payment of $62 million.  In addition, TD Bank has agreed to pay all fees and costs associated with providing notice to the Settlement Class.  The court preliminarily approved the settlement on September 19, 2012.