Galgano v. TD Bank, N.A.

BASIC INFORMATION

1. Why is there a Notice?

   A Court authorized this notice because you have a right to know about the proposed Settlement of this class action lawsuit and about all your options. The notice explains the lawsuit, the Settlement, and your legal rights.

   The U.S. District Court for the District of New Jersey is overseeing this case. The case is known as Galgano d/b/a Shear Envy Hair Studio, et al. v. TD Bank, N.A., Case No. 1:20-cv-05623 (D.N.J.). The people who sued are called the Plaintiffs. The Defendant is TD Bank.

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2. What is this lawsuit about?

   The lawsuit claims that TD Bank breached its contract with accountholders and improperly assessed and collected Out of Network ATM Balance Inquiry Fees when accountholders used an out of network ATM to conduct a balance inquiry together with another transaction such as a cash withdrawal.

   The Complaint in this action contains all of the allegations and claims asserted against TD Bank. TD Bank maintains it did nothing wrong but has agreed to settle the lawsuit to avoid the cost, delay, and uncertainty of litigation. The Court granted Final Approval on July 19, 2023.

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3. What is an Out of Network ATM Balance Inquiry Fee?

   The phrase Out of Network ATM Balance Inquiry Fee (or “OON Balance Inquiry Fee”) refers to the fee TD Bank charged accountholders when using a non-TD Bank ATM to check an account balance in the same session that accountholders made a withdrawal or transfer. This Settlement does not relate to fees charged for transactions at TD ATMs.

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4. Why is this a class action?

   In a class action, one person or a group of people, called Class Representatives (in this case, two TD Bank customers who were assessed OON Balance Inquiry Fees) sued on behalf of people who have similar claims. All the people who have claims similar to the Class Representatives are members of the Settlement Class, except for those who exclude themselves from the class.

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5. Why is there a Settlement?

   To resolve this matter without the delay and uncertainties of litigation, the Parties have reached a settlement. The Settlement requires Defendant to pay money to the Settlement Class, as well as settlement administration expenses, attorneys’ fees, costs to Class Counsel, and an Incentive Award to the Class Representative.

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WHO IS IN THE SETTLEMENT

6. How do I know if I am part of the Settlement?

   If you received notice of the Settlement from a postcard or email addressed to you, then you are in the Settlement Class. If you did not receive a postcard or email notice, then the persons included in the Settlement Class are described below. If you believe you are in the Settlement Class, but for some reason did not receive a postcard or email, please contact the Settlement Administrator at info@OutofNetworkATMFeeSettlement.com.

   With some exceptions explained below, you are a member of the Settlement Class if you are a current or former TD Bank customer who was charged an OON Balance Inquiry Fee during “the Class Period.” The Class Period means:

   1. For Settlement Class Members whose accounts were opened in Connecticut, Massachusetts, Maine, New Jersey, New York, Rhode Island, and Vermont: the period from May 7, 2014 to December 31, 2019;
   2. For Settlement Class Members whose accounts were opened in Virginia: the period from May 7, 2015 to December 31, 2019;
   3. For Settlement Class Members whose accounts were opened in Pennsylvania: the period from May 7, 2016 to December 31, 2019;
   4. For Settlement Class Members whose accounts were opened in the District of Columbia, Delaware, Maryland, North Carolina, New Hampshire, and South Carolina: the period from May 7, 2017 to December 31, 2019.

   Excluded from the Settlement Class are (1) TD Bank, its parents, subsidiaries, affiliates, officers and directors; (2) all Settlement Class members who exclude themselves from the Settlement; and (3) all judges assigned to this litigation and their immediate family members.

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THE SETTLEMENT BENEFITS – WHAT YOU GET

7. What does the Settlement provide?

   TD Bank has agreed to establish a cash Settlement fund of $11.9 million dollars from which Settlement Class Members will receive payments. The minimum award will be $2, with a possible additional amount for each Participating Settlement Class Member who incurred more than one OON Balance Inquiry Fee. The additional amount cannot be determined at this time; it will depend on the number of Participating Settlement Class Members and the amount of additional OON Balance Inquiry Fees each Participating Settlement Class Member incurred. Pursuant to the Court’s approval, the Settlement Fund will also be used to pay attorneys’ fees awarded to Class Counsel, reimbursement of Class Counsel’s litigation expenses and costs, Administrative Costs of the Settlement Administrator, and a Service Award of up to $7,500 for each Class Representative.

   Any Residual Funds that are not feasible and practical to distribute to individual Participating Settlement Class Members will be provided to one or more charitable organization (“cy pres” recipients). The parties will recommend an organization or organizations with their Motion for Final Approval.

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8. When will I receive my payment?

   The Court granted final approval on July 19, 2023, of this Settlement. Award payments via check will be mailed to eligible class members with closed accounts and are expected to commence on October 20, 2023. Please note that checks are expected to be mailed over the course of two weeks.

   TD Bank started its disbursements in mid-October 2023 to active account holders and will continue on a rolling basis through January 22, 2024.

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9. What am I giving up to stay in the Settlement Class?

   If you stay in the Settlement Class, all the decisions by the Court will bind you, and you give TD Bank a release. A release means you cannot sue, continue to sue, or be part of any other lawsuit against TD Bank about the issues in this case. Section XVI of the Settlement Agreement contains the release and describes the claims that you give up if you remain in the Settlement.

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EXCLUDING YOURSELF FROM THE SETTLEMENT

10. How do I exclude myself from the Settlement?

    The deadline for all Class Members to exclude themselves from the Settlement passed on May 26, 2023.

    Exclusion requests are no longer accepted.

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11. If I do not exclude myself, can I sue TD Bank for the same thing later?

    No. Unless you exclude yourself, you give up the right to sue TD Bank for the claims that the Settlement resolves. You must exclude yourself in order to try to pursue your own lawsuit.

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12. If I exclude myself from the Settlement, can I still receive a payment?

    No. You will not receive a payment if you exclude yourself from the Settlement.

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13. Do I have a lawyer in this case?

    The Court has appointed lawyers to represent you and others in the Settlement Class, including the law firms of Wilentz, Goldman & Spitzer, P.A., KalielGold PLLC, and The Kick Law Firm, P.C.. Class Counsel will represent you and others in the Settlement Class. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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14. How will the lawyers be paid?

    Class Counsel intends to request up to one-third of the Settlement Fund for attorneys’ fees and their litigation expenses and costs incurred in connection with prosecuting this case. The fees and expenses awarded by the Court will be paid out of the Settlement Fund. The Court will determine the amount of fees and expenses to award.

    Class Counsel will also request that a Service Award of up to $7,500 for each Class Representative (totaling $15,000) be paid from the Settlement Fund for their service to the Settlement Class. Any Service Award is subject to Court approval.

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OBJECTING TO THE SETTLEMENT

You can tell the Court that you do not agree with the Settlement or some part of it.

15. How do I tell the Court that I don’t like the Settlement?

    The deadline for all Class Members to object to the Settlement passed on May 26, 2023.

    Objections are no longer accepted.

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16. What is the difference between objecting and excluding?

    Objecting is telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself from the Settlement. Excluding yourself from the Settlement is telling the Court that you don’t want to be part of the Settlement. If you exclude yourself from the Settlement, you have no basis to object to the Settlement because it no longer affects you.

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17. When and where did the Court decide to approve the Settlement?

    The Court granted Final Approval on July 19, 2023, at 10:00 a.m. EST, at the United States District Court for the District of New Jersey, located at Mitchell H. Cohen Building & U.S. Courthouse, 4th & Cooper Streets, Camden, NJ 08101.

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IF YOU DO NOTHING

18. What happens if I do nothing at all?

    If you do nothing, you will still receive the benefits to which you are entitled, assuming you can be reached by class notice. Unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against TD Bank relating to the issues in this case.

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GETTING MORE INFORMATION

19. How do I get more information?

    The Long Form Notice summarizes the proposed Settlement. More details can be found in the Settlement Agreement. You can obtain a copy of the Settlement Agreement on the Documents page of this website. You may also write with questions to Settlement Administrator, ATM Balance Inquiry Fee Settlement Program, P.O. Box 6938, Portland, OR 97228-6938. Do not contact TD Bank or the Court for information.

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