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    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.

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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

    Recent developments

    The Toronto-Dominion Bank (“TD Bank”) raised the interest rates on its home equity lines of credit (“HELOC”) on November 16, 2009. A class action was authorized against TD Bank to contest the legality of this increase and to request compensation for individuals who held these lines of credit. The class action ended when a settlement agreement with TD Bank was approved by the Court on October 17, 2019.

    You can review the full settlement agreement and compensation protocol and the the judgment approving the settlement agreement.

    Raymond Chabot Administrateur Provisoire inc. (the “Administrator”) has been appointed to administer the claims process for this settlement agreement.

    Around the beginning of March, you should receive a letter from the Administrator with instructions on how to file a claim in order to receive the compensation you are entitled to under the settlement agreement. To identify yourself on the Administrator’s website, you will need the information provided in this letter. If you do not receive a letter from the Administrator by March 20th, 2020, please contact the Administrator:

    Raymond Chabot Administrateur Provisoire inc.
    Telephone : 1-877-784-1874
    Email : reglement-td@rcgt.com
    Website : https://reglement-td.ca

    Your registration on our  website DOES NOT CONSTITUTE A CLAIM. You MUST file a claim with the Administrator in order to receive compensation.

    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.