Newspaper article The Record (Bergen County, NJ)

Suit Filed against Td over Machines

Newspaper article The Record (Bergen County, NJ)

Suit Filed against Td over Machines

Article excerpt

Two North Jersey men have filed a federal lawsuit against Cherry Hill-based TD Bank, alleging they and other customers were shortchanged by the bank's "Penny Arcade" coin counting machines.

In the complaint filed Thursday in U.S. District Court in Newark, customers David Diaz of Bloomfield and Ryan Franco of Hillsdale allege the machines inaccurately counted coins and shortchanged them and other customers, and that the bank knew or should have known of the problem.

"Every machine is undercounted," said Roseland lawyer Bruce H. Nagel, who is representing the aggrieved New Jersey customers. "They have done over a billion coins. My view is [damages] will run into the tens of millions of dollars."

The lawsuit comes after an investigative report on NBC's "Today" show earlier this month showed that of five machines an investigator tested at New York City TD branches, each one miscounted $300 worth of coins in the bank's favor, and the shortfall was as much as $43. …

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