Attorneys Looking into TD Bank Over Paper Statement Fees
Last Updated on March 27, 2020
Important Information
Attorneys working with ClassAction.org are no longer investigating this matter. The information here is for reference only. A list of open investigations and lawsuits can be viewed here.
Case Update
- March 27, 2020 – Lawsuit Filed
- A proposed class action lawsuit has been filed in New York against TD Bank. Learn more about the lawsuit here.
- February 11, 2020 – Investigation Closed
- Thanks to everyone who helped contribute to this investigation! At this point, attorneys have enough information regarding TD Bank’s paper statement practices. If there are any updates to this investigation, they will be posted to this page. You can sign up for our newsletter here for the latest class action news or view our open list of investigations. The information here is for reference only.
At A Glance
- This Alert Affects:
- Anyone who was charged a fee by TD Bank for receiving paper account statements.
- What's Going On?
- Under New York law, it is illegal for a business to charge a fee when a customer chooses to receive paper statements. Attorneys are now investigating whether TD Bank charged people for their paper statements and, if so, whether they can file a class action lawsuit on behalf of the bank’s New York customers.
- How Could a Class Action Help?
- A class action could help consumers get back any money they were wrongfully charged and require the bank to stop charging this fee.
- How Would I Know If I Was Charged a Fee?
- A line item for this charge, believed to be around two dollars, can be seen on your monthly bank statement.
If you are a New York resident, a customer of TD Bank, and receive your monthly account statements by mail, attorneys working with ClassAction.org would like to speak to you.
They are investigating whether TD Bank has been illegally charging fees to you and other New York residents and, if so, whether a class action lawsuit can be filed.
What Started This Investigation?
In April 2011, New York enacted a law that states companies cannot charge consumers an additional fee when they decide to receive paper statements or pay bills by mail.
Since the statute came into effect, a handful of class action lawsuits have been filed in New York against companies including The Travelers Companies, Inc., Farmers Insurance Group and Waste Management over possible violations. This led attorneys working with ClassAction.org to further investigate whether other companies, such as TD Bank, may be illegally charging fees for paper statements.
How Would I Know If I Was Charged?
If you were charged one of these fees, it will likely appear as a line item on your monthly statement. It is believed TD Bank’s paper statement fee is around $2.
How Is a Class Action Going to Help?
If filed and successful, a class action lawsuit could help consumers get back any fees they were wrongfully charged, along with an additional monetary award as warranted by New York law.
TD Bank could also be required to stop charging fees to consumers when they elect to receive paper statements rather than electronic correspondence.
If you live in New York and receive paper statements from TD Bank, you may have been wrongfully charged a fee.
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