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    Notice about our registration form
    Completing the form does not guarantee you any compensation

    Please note that completing this form does not guarantee you any compensation.

    Indeed, it will ultimately be up to the court to decide on the merits of the class action and the terms of compensation. In addition, the eligibility criteria to receive compensation could be modified by the court, which could result in your exclusion from the class action.

    Please also note that we will not conduct a detailed analysis of each individual case until there is a final judgment or settlement in the file. Completing this form does not mean that you are eligible.

    We will inform the people who have registered of any final outcome in the class action. We will communicate with them by email. We invite you to notify us of any changes to your email address.

    We also invite you to keep informed through our website which we will update regularly.

    We thank you for your interest in this class action.

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    Ongoing class actions

    Marilena Masella v. Toronto Dominion Financial Group

    TD Home Equity Line of Credit / Unilateral and Systematic Change to how Interest is calculated for Variable Interest Rates

    The Case

    On October 9, 2012, Ms. Marilena Masella filed a motion seeking authorization to institute a class action against Toronto Dominion Financial Group (“TD”).

    Ms. Masella alleges that TD breached its contract with class members in the fall of 2009 when it unilaterally and systematically changed how it calculated the interest owed by borrowers on its Home Equity Lines of Credit with a variable annual interest rate.

    The class action seeks compensatory damages resulting from the illegal increase in the interest charged by TD, as well as punitive damages for TD’s violation of the Quebec Consumer Protection Act.

    On January 15, 2016, the Court of Appeal of Quebec authorized the class action and named Ms. Masella the representative of the following group:

    All persons who signed an agreement for a home equity line of credit (“HELOC”) with TD Bank or one of its subsidiaries, and who, over the course of fall 2009, received a notice of modification of the agreement that gave rise to an adverse change in the percentage of interest that is added to or subtracted from the TD prime rate in order to calculate the variable annual interest rate.

    If you are a class member and want to receive information on the file, you can sign up to our mailing list by completing the form at the bottom of this page.

    Where are we now?

    Following the authorization of the class action by the Court of Appeal, the Honourable Justice David Collier was named to case-manage the class action and preside over the trial on the merits. A schedule of proceedings has been set and the matter is proceeding towards a trial.

    The Defendant sent class members an abridged notice directly by mail to inform them of the authorization of the class action and their right to opt out of the class action. For more information on the class action, please consult the full Notice to class members.

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