Fishstore Class Action: $10.5M TD Bank Settlement

The TD Bank overdraft fee class action settlement resolved claims that the bank improperly charged overdraft and nonsufficient funds fees on business checking accounts. TD Bank agreed to pay $10.5 million into a settlement fund and provide another $5 million in debt relief. Judge Karen M. Williams of the U.S. District Court for the District of New Jersey granted final approval on October 15, 2024, and payments went out in March 2025.¹

Who Was Covered

The case, Amazing Fishstore LLC et al. v. TD Bank, N.A. (Civil Action No. 1:22-cv-00958-KMW-AMD), covered TD Bank business checking account holders only. Two classes were certified, both running from February 23, 2016, through September 30, 2022:

The APSN Fee Class: business account holders charged an overdraft fee on a transaction that was authorized when the account had a positive balance but settled when it was negative.
The Retry Fee Class: business account holders charged an additional nonsufficient funds fee when a rejected transaction was automatically resubmitted for payment.

No claim form was required. Anyone who fit either definition and did not opt out by September 14, 2024, was automatically included and entitled to a payment.²

What the Fees Were

The lawsuit centered on two fee practices the plaintiffs said the account agreement never authorized.³

APSN Fees

APSN stands for “Authorize Positive, Settle Negative.” A customer swipes a debit card when the account has enough money to cover it, the bank approves the transaction, and days later the charge posts against a balance that has since dropped below zero because of other activity. TD Bank then charged an overdraft fee on the original purchase, even though the funds had been there at the moment of authorization.⁴

Retry Fees

When a check or ACH payment bounced, the payee’s bank often resubmitted it automatically. TD Bank treated each resubmission as a new “item” and charged a fresh $35 nonsufficient funds fee each time. The plaintiffs argued that retrying the same transaction is not a new item, so the repeat fees violated the account agreement’s promise to charge “per item.”⁵⁶

TD Bank denied the allegations.³

How Much and When Payments Went Out

TD Bank paid $10,500,000 into a common fund. After attorneys’ fees (up to 33% of the settlement’s value), administrative costs, and service awards of up to $5,000 for each named plaintiff, the remainder was distributed to class members. The bank separately provided $5,000,000 in debt relief for class members whose accounts had been closed with outstanding balances tied to the challenged fees.³

Individual amounts were calculated by settlement administrator Epiq based on how much each class member had been charged in APSN and Retry Fees during the covered period. No per-member estimate was published. Former TD Bank customers received mailed checks starting March 12, 2025. Current customers received account credits on March 17 and 18, 2025.²

Personal Account Holders: The Burns Case

This settlement did not cover personal checking accounts. A separate lawsuit, Burns et al. v. TD Bank, N.A. (Civil Action No. 1:21-cv-18194-KMW-AMD), brought the same APSN fee claims on behalf of personal account holders charged those fees between June 27, 2019, and September 30, 2022. TD Bank agreed to pay $21,975,000 in cash plus $10,250,000 in overdraft fee forgiveness in that case, roughly $32.2 million in total value. Judge Williams granted final approval on the same day as the business settlement, and Burns payments also began going out in March 2025. As part of that settlement, TD Bank confirmed it had stopped charging APSN overdraft fees on debit card transactions authorized against positive balances.⁷⁸

Checking on a Payment

Questions about the business account settlement or a payment status go to the settlement administrator, not to TD Bank or the court. Call 1-888-903-1272 or write to Amazing Fishstore Settlement Administrator, P.O. Box 5657, Portland, OR 97228-5657.³

1
PACER Monitor. Amazing Fishstore LLC et al v. TD Bank – Final Judgment
2
TD Bank Business Account Class Action Settlement. Settlement Home Page
3
TD Bank Business Account Class Action Settlement. Frequently Asked Questions
4
Consumer Financial Protection Bureau. Unanticipated Overdraft Fee Assessment Practices
5
Retry NSF Fees Settlement. Perks et al. v. TD Bank – Amended Complaint
6
ClassAction.org. Class Action Claims TD Bank Charges Multiple NSF Overdraft Fees on Single Transactions
7
TD Bank APSN Fee Class Action Settlement. Burns v. TD Bank – Frequently Asked Questions
8
Truth in Advertising. Burns v. TD Bank – Settlement Agreement