TD Bank Inks $70M Deal In Overdraft Fee MDL

Law360 (June 13, 2019, 10:26 PM EDT) -- TD Bank NA asked a South Carolina federal judge Thursday to approve its deal to pay out $43 million and forgive $27 million in overdraft fees to settle multidistrict litigation alleging the bank hit customers with illegal overdraft charges.

The TD Bank customers' attorney fees and costs will be paid out of the $70 million, according to the proposed settlement.

While it's not yet clear how much the customers' attorneys will seek in fees and costs, TD Bank says in the proposed settlement agreement that it will not oppose class counsel's request for fees of up to a third of the...

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