TD Bank reported your credit card or bank account wrong?

Who TD Bank is and what it reports

TD Bank, N.A. is a national bank headquartered in Cherry Hill, New Jersey. It offers credit cards and deposit accounts, among other products. Credit card accounts are reported to Equifax, Experian and TransUnion. Deposit account information, such as closed accounts and unpaid overdrafts, is reported to specialty consumer reporting companies that banks use to screen people who apply for checking accounts.

When TD Bank sends account data to a consumer reporting company, the FCRA treats it as a “furnisher.” That status comes with legal duties, including the duty to investigate disputes that a bureau forwards to it.

What the CFPB found about TD Bank’s furnishing

On September 11, 2024, the CFPB issued a consent order against TD Bank (docket 2024-CFPB-0009) focused entirely on credit reporting. The Bureau found that, for credit card accounts, TD Bank:

• sent inaccurate or incomplete information to consumer reporting companies and did not promptly correct it;
• did not accurately report consumers’ participation in COVID-19 accommodation programs under the CARES Act;
• did not provide the required date of first delinquency on certain delinquent or charged-off accounts;
• did not reasonably or timely investigate consumer disputes, and sometimes did not investigate at all;
• did not properly notify consumers when it treated a dispute as frivolous or irrelevant; and
• lacked reasonable written policies and procedures for the accuracy of what it furnished.

The CFPB also found that diverting resources away from dispute investigations was abusive under the Consumer Financial Protection Act. For deposit accounts, the Bureau found TD did not promptly correct information it had furnished after determining that the information was fraudulent. The order required TD Bank to pay $7.76 million in redress and a $20 million civil money penalty, and to take steps to prevent future violations. The CFPB described the total as $28 million.

The order does not decide anything about your account, but it describes the same problems the FCRA’s furnisher rules address.

Errors that show up on TD Bank accounts

• Fraud accounts left in place. A TD card or bank account opened by someone else keeps appearing after you report identity theft.
• Wrong or missing date of first delinquency. That date controls when a negative account must come off your report under 15 U.S.C. § 1681c. If it is wrong or missing, a charge-off can linger past the seven-year limit.
• Hardship programs reported as missed payments. Payments deferred or reduced under an agreed accommodation reported as late.
• Balances and statuses that don’t match your records. A paid card still showing a balance, or a closed account shown as open or delinquent.
• Disputes that go nowhere. A form response that the account was “verified.”
• Bank screening reports. A TD deposit account wrongly reported as closed for cause or owing money, which can keep you from opening a checking account elsewhere.

How to dispute a TD Bank account

1. Get your reports from AnnualCreditReport.com and save dated copies. If a bank denied you a checking account, request the screening report it used.
2. Dispute with each bureau reporting the error. Use the Equifax, Experian and TransUnion dispute channels, plus the specialty company if a deposit account is involved. Say exactly what is wrong, for example “This account was opened by an identity thief” or “The date of first delinquency is wrong,” and attach statements, payment records, hardship letters or an identity theft report.
3. You may also dispute directly with TD Bank using the contact options on your statement or in online banking. Keep copies. A direct dispute can help, but it does not by itself give you a right to sue.
4. For identity theft, file a report at IdentityTheft.gov and ask each bureau to block the fraudulent account under 15 U.S.C. § 1681c-2.
5. Save every result letter. Bureaus generally have 30 days to reinvestigate, and TD must complete its investigation within that period (§ 1681s-2(b)(2)).

The bureau step matters because there is no private right of action to enforce a furnisher’s general accuracy duties under § 1681s-2(a), including the identity theft duties in § 1681s-2(a)(6). Your claim arises under § 1681s-2(b), after a bureau notifies TD Bank of your dispute and TD fails to reasonably investigate and correct the information.

Your FCRA rights

• Furnisher investigation (§ 1681s-2(b)). After notice from a bureau, TD must review all relevant information you provided, report the results, and correct, delete or block information that is inaccurate, incomplete or cannot be verified.
• Obsolete information (§ 1681c). Most negative accounts must come off your report seven years after the delinquency began.
• Identity theft blocking (§ 1681c-2). Bureaus generally must block fraudulent information within four business days of a proper request.
• Bureau duties (§§ 1681e(b), 1681i). A bureau that keeps reporting TD’s error after your dispute may face its own, separate claim.

What you may recover

If TD Bank or a bureau negligently violated the FCRA, you may recover actual damages, such as credit or account denials, higher interest rates and emotional distress, plus attorney’s fees and costs (15 U.S.C. § 1681o). If a violation was willful, you may recover actual damages or statutory damages of $100 to $1,000, punitive damages as the court allows, and attorney’s fees and costs (§ 1681n).

Get a free case review before your deadline

An FCRA claim generally must be filed within two years after you discover the violation and no later than five years after it occurred (15 U.S.C. § 1681p). If TD Bank keeps reporting a fraud account, a wrong delinquency date or a balance you don’t owe after you disputed it, gather your reports, dispute letters and results and request a free case review. FCRA Attorneys, with offices in Dallas, Houston, Chicago, Los Angeles and Atlanta, files FCRA cases in federal court and works on contingency: no fee unless we win. Learn more about our FCRA lawyers or see our other company guides.

Questions about suing TD Bank

Can I sue TD Bank over my credit report?

Possibly. TD Bank is a furnisher of credit information. If you dispute a TD account through Equifax, Experian or TransUnion and TD Bank fails to reasonably investigate and correct inaccurate data after the bureau notifies it, you may have a claim under 15 U.S.C. § 1681s-2(b).

What did the CFPB find about TD Bank's credit reporting?

In a September 11, 2024 consent order, the CFPB found that TD Bank furnished inaccurate or incomplete credit card information and did not promptly correct it, failed to report required dates of first delinquency, and did not reasonably investigate disputes. It also found TD did not promptly correct deposit account information it had determined was fraudulent. The order required $7.76 million in redress and a $20 million civil penalty.

Does the CFPB order mean TD Bank got my account wrong?

No. The order describes past practices and does not decide anything about your account. Your claim depends on what TD reported about you, what you disputed through the bureaus, and how TD responded.

What does it cost to hire FCRA Attorneys?

Nothing up front. We handle FCRA cases on contingency, so there is no fee unless we win, and the FCRA shifts reasonable attorney's fees and costs to the company when the consumer prevails (15 U.S.C. §§ 1681n, 1681o).

Sources

• CFPB enforcement action: TD Bank, N.A. (furnishing), consent order September 11, 2024
• CFPB press release: CFPB Orders TD Bank to Pay $28 Million for Breakdowns that Illegally Tarnished Consumer Credit Reports
• CFPB consent order 2024-CFPB-0009 (PDF)

Updated November 2026. This page is general information, not legal advice.