TD Bank’s Debit Card Transactions

In December 2017, a class-action lawsuit was filed against TD Bank for allegedly misleadingly promising customers who do not opt into its Debit Card Advance program that the bank will decline transactions that will make the balance of the account fall below zero and will not charge overdraft fees for such transactions when, according to plaintiffs, such claims are not true for transactions involving ride-sharing apps, such as Uber and Lyft. The named plaintiff claims that the bank charged her an unauthorized overdraft fee when she overdrew her account paying for a one-time ride-share transaction. (According to the complaint, overdraft fees are only authorized for recurring debit card transactions.) (Lawrence et al v. TD Bank, N.A., Case No. 17-cv-1283, D.N.J.)