December 3, 2018 / 9:47 PM / 3 months ago

Customers say TD Bank’s multiple NSF fees breached contract, good faith duty

New Jersey-based TD Bank has been hit with a proposed class action accusing it of charging customers unwarranted fees for overdrawn accounts by resubmitting transactions for payment when it knows customers do not have enough money to cover them.

Filed on Monday in Manhattan federal court, the lawsuit said TD Bank is breaching its account agreements, which allow it to charge a nonsufficient funds (NSF) fee of $35 for a single transaction, but not for resubmitting the same transaction.

To read the full story on WestlawNext Practitioner Insights, click here:

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