Bank customers can get payments from $32m overdraft fee settlement – if deadline is met you’ll automatically get checks

TIME is running out for TD Bank customers to take action regarding a $32.225 million settlement over allegedly illegal overdraft fees.

Affected customers have just two weeks left to exclude themselves or object to the settlement terms before the deadline of September 14, 2024.

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The settlement applies to current and former TD Bank personal checking account holders who were charged certain “Authorize Positive, Settle Negative” (APSN) fees between June 27, 2019, and September 30, 2022.

These APSN fees are overdraft charges applied to transactions that were authorized when the account had a positive balance, but later settled when the balance was negative.

The class action lawsuit claims TD Bank violated its own account terms by assessing these unauthorized overdraft fees on transactions.

This, even after approving them with sufficient funds.

HOW TO BENEFIT

Under the settlement terms, $21.975 million will be distributed to customers who were charged APSN fees.

Current TD Bank customers will receive account credits, while former customers will receive checks.

The exact payment amounts depend on the fees paid by each customer during the specified period, but estimates have not been released.

An additional $10.25 million from the settlement will be used to forgive certain outstanding balances linked to APSN fees.

WHAT THOSE AFFECTED NEED TO KNOW

Customers who do not wish to participate in the settlement or who want to object to its terms must act before the September 14, 2024 deadline.

The final court approval hearing is set for October 10, 2024.

No claim form is necessary to receive a settlement payment.

Those who do not exclude themselves will automatically receive a payment, either by check or as an account credit.

With just two weeks remaining, affected TD Bank customers should review their options promptly to ensure they take any necessary action before the deadline passes.

BREACH BUCKS

Americans impacted by a data breach at CGM could soon receive up to $4,400 in compensation.

What's a class-action settlement?

Class action lawsuits offer groups of people, or 'classes,' a way to band together in court.

These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.

When a suit becomes a class action, it extends to all “class members,” or people who may have similar complaints to those who filed the suit.

Companies often settle class actions – offering payment to class members who typically waive their right to pursue further legal action by accepting money.

These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.

Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company’s doorstep.

The $1.5 million settlement will likely be distributed soon.

CGM, a software-as-a-service provider for wireless and broadband companies, faced a lawsuit after a data breach occurred between December 15, 2022, and December 28, 2022.

According to the settlement website, hackers potentially accessed sensitive consumer information during this period, including driver’s license numbers, state IDs, and Social Security numbers.

Class members in the lawsuit argued that CGM could have prevented the breach by implementing reasonable cybersecurity measures.

While the company has not admitted any wrongdoing, it has agreed to pay $1.5 million to settle the claims.

The breach reportedly impacted around 279,063 individuals who are now eligible for compensation.

Eligible claimants will receive varying cash payments based on their specific circumstances.

Those with documented expenses related to the data breach can claim compensation as follows:

• Up to $400 for ordinary losses
• $20 per hour for up to four hours of lost time
• Up to $4,000 for extraordinary losses

The U.S. Sun has extensive coverage on settlements for which Americans might be eligible.

There is an opportunity to claim four payments from a $3 million overtime pay settlement.

And Americans might also be able to get some cash from a $14.95 million privacy settlement .