TD Bank Faces Coin Counting Machine Consumer Fraud Class Action Lawsuit

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Toronto, Canada: A consumer fraud class action lawsuit has been filed against Toronto Dominion (TD) Bank in Canada alleging that its “Penny Arcade” coin counting machines located across Canada shortchanged customers.

Filed by plaintiff Lisa Ram ("Ram"), residing in Kitchener, Ontario, the suit claims that on or about June 23, 2014, Ram used TD Bank's coin counting machine in Kitchener, Ontario to count coin currency. Prior to depositing the coins. Ram counted and sorted them and knew she had a total of $854.25. After depositing the coins into TD Bank's coin counter, she was not credited for amounts totalling $159.50.

Ram complained to TD Bank, which failed to remedy her losses.

According to the complaint, customers using TD Bank's coin counting machines expected the machines to operate accurately. However, based on its extensive experience with operating coin counting machines in its US branches since 2007, TD Bank knew or ought to have known that its coin counting machines were not capable of achieving accuracy for many reasons, resulting in undercounted funds of several percentage points in some cases. TD Bank failed to take any steps to warn customers of these risks, causing them harm.

The class action is brought on behalf of a proposed class of persons who used TD Bank's coin changing machines in Canada between January 1, 2013 and May 25, 2016.

Plaintiffs are represented by Sotos LLP.

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