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A class-action settlement that would see Toronto Dominion Bank pay out nearly $16 million has been approved – one of two multi-million-dollar payouts by the bank given the green light in recent weeks.The Ontario Superior Court of Justice granted the approval Thursday after a hearing this week for the settlement reached between TD Bank and Toronto law firm Koskie Minsky LLP over non-sufficient funds (NSF) fees.In its decision the court concluded that the “settlement, overall, is excellent, and in the best interests of the class.”A proposed settlement was reached in August 2023, less than a year after the court certified the case as a class action.Eligible customers will now share the benefits of the settlement, with an estimated $88 going into their accounts, according to the settlement agreement shared by the law firm with Global News.That amount will be directly deposited into customers’ accounts without having to file any additional paperwork, the law firm says.The total payout is worth $15.9 million but class counsel fees and disbursements, third-party litigation funding fees, an honorarium of $10,000 to the representative plaintiff and any charitable donations will be deducted and the rest will be available for distribution.People eligible to get paid must be Canadian residents who have an open personal deposit account with TD Bank that has been charged a non-sufficient funds fee by the bank on a re-presented pre-authorized debit transaction between Feb. 2, 2019, and Nov.

electoral bonds. These bonds were not actual tradable instruments but allowed for contributions to be made by individuals or companies to a political party through a banking channel. The controversial element — which led to the court case — was a government decision to keep the donors anonymous. Also Read: SC unanimously strikes down poll bonds scheme, terms it ‘unconstitutional’ What did the court decide?

electoral bonds should make poll funding more transparent as payments can be declared in books of accounts. Others said the move may result in a greater role for cash. Electoral bonds allowed companies and individuals to donate to political parties anonymously and without constraints. Some companies are worried that opposing political parties will now try and call them out on such funding and cause reputational harm. The Supreme Court has said State Bank of India, which was the sole issuer of the instrument, has to pass on details of all such purchases since 2019 to the Election Commission of India, which will make them public next month. Several executives, speaking anonymously to ET, expressed concern about the potential for harassment once these details are known. The Supreme Court had cited the quid pro quo involved in companies funding parties. That shouldn't be considered unacceptable, said a leading promoter.

By Abigail Summerville

Supreme Court verdict striking down the electoral bonds scheme is a «great boon for democracy», former chief election commissioner S Y Quraishi said on Thursday. N Gopalaswami, who was the chief election commissioner from June 2006 to April 2009, said, «We are still very long way off in cleaning up the electoral funding system.» A five-judge bench of the apex court headed by Chief Justice of India D Y Chandrachud said the electoral bonds scheme violates the right to information and the freedom of speech and expression under the Constitution. The top court directed that the SBI must disclose details of each electoral bond encashed by the political parties. The information should include the date of encashment and the denomination of the bonds and be submitted to the poll panel by March 6.

Supreme Court on Thursday banned electoral bonds that had become a major source of funding for political parties in India. The scheme, termed 'unconstitutional' now by the apex court contributed over Rs 16,000 crore to political parties' coffers since 2018. Among the beneficiaries, the ruling Bharatiya Janata Party (BJP) stands out, receiving a lion's share of around 55%, or approximately Rs 6,565 crore, PTI reported citing data from the Election Commission and the Association for Democratic Reforms (ADR). These bonds, which allow for anonymous donations, have been a key component of political funding, with some regional parties relying heavily on them for financial support.

Electoral bond: In a landmark judgment delivered on February 15, the Supreme Court unanimously struck down the electoral bonds scheme, holding these bonds «unconstitutional». The State Bank of India, the authorised seller of these poll bonds, was directed by the apex court to provide details of donations made through these bonds, as well as all relevant info on whoever the money went to. Holding political donations by companies as purely for «quid pro quo purposes», the top court ordered that the information of all corporate contributors be made public.

₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh, and ₹1 crore. In July last year, the ADR data had revealed that more than half of all donations made to political parties between 2016-17 and 2021-22 were through electoral bonds and the BJP received more funds than all other national parties put together.

Supreme Court is set to announce its verdict regarding petitions challenging the validity of the electoral bonds scheme on February 15. The Constitution bench, headed by Chief Justice DY Chandrachud, had reserved its decision on November 2 last year. In April 2019, the Supreme Court declined to stay the electoral bonds scheme, emphasising the need to reduce the cash component in the electoral process.

Despite economic challenges from inflation and rising interest rates, donors on Fidelity Charitable came together to make 2023 the platform’s most impactful year yet.

₹1,300 crore through electoral bonds in 2022-23. The party's total contributions stood at ₹2,120 crore in the 2022-23 fiscal, of which 61 per cent came from electoral bonds.

Boston Celtics power forward Jayson Tatum announced Tuesday a gift of $1 million from the financial services company SoFi to his nonprofit

Fidelity Charitable, the nation’s largest grantmaker, distributed a record-setting $11.8 billion to nonprofits in 2023, up more than 5% at a time when donations are generally dropping

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By Nate Raymond

fund to finance the development of sophisticated technology in developing nations. The fund was launched with capital of $200 million, financed by the Abu Dhabi government, and will be overseen by the Gulf state's Advanced Technology Research Council (ATRC), the council said.

BAPS Mandir’ in Abu Dhabi. He will also meet the top leadership of one of India's closest strategic partners in West Asia. The temple, the first traditional Hindu temple in the United Arab Emirates, sits on 27 acres of land generously gifted by the UAE leadership.

Silent Donor is flourishing just as the privacy debate for contributors heats up, especially for those using donor-advised funds to anonymously give to their favorite, and sometimes controversial, causes while also getting a tax break

A prominent Canadian philanthropist launches into a story about his days as an undergraduate at university way back when. He switched majors early on and, in advance of his final year, experienced a moment of acute realization that he was not having nearly enough fun. To beef up the good times, he registered for what he described as a slate of “Joe” courses, otherwise known as bird courses.

₹100 per child per month and in respect of their hostel expenditure allowance is ₹300 per child per month, for a maximum of two children in a nuclear family. These exemption limits, in respect of the basic necessity of primary education of the children, have not been revised since ages.

(Reuters) — MacKenzie Scott, ex-wife of Amazon.com (NASDAQ:AMZN) billionaire Chief Executive Jeff Bezos, sold 65.3 million shares in the ecommerce giant last year, Bloomberg News reported on Friday.