The class action lawsuit, Burns v. TD Bank, North America, which accused TD Bank of unauthorized collection of certain overdraft fees from its personal checking account holders, has been settled for $32,225,000. The lawsuit focused on APSN ("Authorize Positive, Settle Negative") fees, which occur when a debit transaction is approved with a sufficient account balance but settles after the balance has become insufficient, thereby triggering an overdraft fee. This practice was deemed frustrating and unexpected by customers, prompting the lawsuit. The settlement aims to deter banks from charging such fees considered unfair or exploitative. The settlement consists of $21,975,000 in monetary payments and $10,250,000 in reductions to outstanding balances on closed accounts. Eligibility for a payout is dependent on having held a TD Bank personal checking account, incurring one or more APSN fees between June 27, 2019, and September 30, 2022. The exact payout per person is not specified and is determined by dividing the net settlement fund among all eligible class members. The court is set to hold a Final Approval Hearing in 2024 to consider the settlement approval. If approved, payments will be made or credits issued within about 60 days, barring any objections or appeals that may delay the process. Current TD Bank customers will receive payment as a credit to their account, while former customers may receive a check from the settlement administrator.