Consumer complaint received 2024-05-10
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: TD BANK US HOLDING COMPANY (NY)

To whom this may concern, I am filing official complaint against TD BANK as I am in direct violation of my rights under the Electronic Funds Transfer Act. Limitations on Amount of Liability 1. Application of liability provisions. There are three possible tiers of consumer liability for unauthorized EFTs depending on the situation. A consumer may be liable for : ( 1 ) up to {$50.00} ; ( 2 ) up to {$500.00} ; 2. Consumer negligence. Negligence by the consumer can not be used as the basis for imposing greater liability than is permissible under Regulation E. Thus, consumer behavior that may constitute negligence under state law, such as writing the PIN on a debit card or on a piece of paper kept with the card, does not affect the consumer 's liability for unauthorized transfers. 

On the date of XX/XX/XXXX early afternoon it was come to attention that I was not in possession of my Debit card. After carefully reviewing my account, I noticed three unauthorized transactions totaling {$3000.00}. XXXX : {$300.00} ATM WITHDRAWL. {$800.00} ATM WITHDRAWL. {$1900.00} DEBIT PURCHASE. In addition to the attempt to withdraw {$16000.00} within the hour. TD BANK displayed gross negligence by failing to flag these transactions as suspicious/ fraud. I immediately called the day of discovery and reported the card stolen, froze the associated account and pursued the dispute process. I was instructed to produced Police Statement and wait until charges were out of the pending status. 

Within my history with TD BANK I have never attempted to withdraw such funds, as this is entirely outside of my normal account activity. I was not near the location in which the fraud occurred and was not in possession of the debit card. Not only have I provided supporting documentation confirming my location, I have taken all proper steps to ensure the successfully retrieval of my funds. 

On XX/XX/XXXX, I submitted official dispute stating the incident as well as providing supporting documentation from the XXXX Police Department. On XX/XX/XXXX, the dispute was denied. TD BANK states due to the pin being in contempt I authorized these charges, which I have stated I did not. Holding me liable for nearly {$3000.00} in losses. Only XX/XX/XXXX, I resubmitted the dispute with more supporting documentation including 3 page XXXX police report, and verification of incident as the case is ongoing and being investigated by authorities as 3rd degree Grand Larceny. TD BANK further denied the claim stating 1 ) Pin was in contempt authoring the charges 2 ) Charges ceased after card was reported stolen. 3 ) No fraud was deemed to have been taken place.

TD has displayed gross negligence as a thorough investigation can not take place after one business day. TD has not taken proper action to review security footage after ATM ID was provided to them. TD BANK did not review official Police documentation in support to my claim. TD BANK has deemed myself fully liable and has solely based its decision based upon pin being in contempt which is in FULL violation of my consumer rights under the ETFA as it explicitly states.

Regulation E expressly prohibits the following factors as the basis for imposing greater liability than is permissible under Regulation E : the consumer was negligent ( e.g., wrote a PIN on an ATM card ) ; an agreement between the consumer and the financial institution provides for greater liability ; or the consumer is liable for a greater amount under state law. ( Staff Commentaries 205.6 ( b ) -2 and 205.6 ( b ) -3 ). 

I am demanding the return of my funds as I am in direct violation of my rights. I have also escalated this case to the Service Chairman and have contacted TD corporate officials XXXX XXXX and XXXX XXXX. I have contacted TD BANK Omnibusman and intend to pursue this negligence to the fullest extent.