Alexander Chiew, on behalf of himself and all others similarly situated v. TD Bank, N.A.

CourtDistrict Court, E.D. New York
DecidedMarch 10, 2026
Docket1:24-cv-07566
StatusUnknown

This text of Alexander Chiew, on behalf of himself and all others similarly situated v. TD Bank, N.A. (Alexander Chiew, on behalf of himself and all others similarly situated v. TD Bank, N.A.) is published on Counsel Stack Legal Research, covering District Court, E.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Alexander Chiew, on behalf of himself and all others similarly situated v. TD Bank, N.A., (E.D.N.Y. 2026).

Opinion

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK -------------------------------------------------------x ALEXANDER CHIEW, on behalf of himself and all others similarly situated,

Plaintiff, MEMORANDUM & ORDER 24-CV-7566 (PKC) (JRC) - against -

TD BANK, N.A.,

Defendant. -------------------------------------------------------x PAMELA K. CHEN, United States District Judge: Plaintiff Alexander Chiew1 brings this action against Defendant TD Bank, alleging breach of contract, breach of the implied covenant of good faith and fair dealing, as well as violations of New York General Business Law § 349 (“Section 349”); the New Jersey Consumer Fraud Act, N.J.S.A. §§ 56:8-1 et seq.; and the Delaware Consumer Fraud Act, Del. C. §§ 2511-27 et seq.2 (FAC, Dkt. 19, at 14–20.) Before the Court is Defendant’s motion to dismiss Plaintiff’s Complaint in its entirety. (Mot. to Dismiss, Dkt. 23.) For the reasons stated herein, Defendant’s motion is granted in part and denied in part.

1 Plaintiff also brings this action on behalf of a purported class. (First Am. Compl. (“FAC”), Dkt. 19, ¶ 1.) 2 Plaintiff alleges, and Defendant does not contest, that the Court has jurisdiction over this action pursuant to the Class Action Fairness Act because at least one of the putative class members and Defendant are diverse and the aggregate claims of the class exceed $5 million. (Id. ¶ 10.) The Court agrees. BACKGROUND I. Factual Background3 When a consumer makes a purchase with a credit card, they are generally not charged an upfront fee by their credit card issuer. (FAC, Dkt. 19, ¶ 14.) Rather, the issuer provides a “grace period” by which a cardholder may pay off a purchase in full and thus avoid fees or interest on the outstanding balance. (Id.) One exception to this practice occurs when the credit card is used for

a cash advance. (Id. ¶ 15.) A cash advance is “commonly and reasonably understood” as “a small, short-term loan available through banks, credit cards, lending apps and other sources.” (Id. ¶ 16.) When a credit card is used for a cash advance, the issuer will immediately assess interest and upfront fees. (Id. ¶ 15.) Cash advance fees aim to “discourage the use of credit cards for cash loans.” (Id.) Defendant is a national bank that provides retail banking services to consumers, including by issuing credit cards. (Id. ¶¶ 2, 13.) Defendant, like other major credit card issuers, charges a “transaction fee” on cash advances. (Id. ¶ 19.) The fee is $10 or 5% of the advance, “whichever amount is greater.” (Id. ¶ 20.) Defendant’s Credit Card Agreement (“Agreement”) details that the

following transactions are considered cash advances and therefore subject to a fee: Cash Advances obtained from a financial institution, an automated teller machine, or any other party that agrees to honor your Card or Account for cash advance purposes, and all convenience checks posted to your account are considered Cash Advances. For example, your Card may be used to obtain cash advances at ATMs displaying the VISA logo and from participating financial institutions honoring VISA credit cards. Transactions to obtain the following goods and services will also be treated as a Cash Advance: travelers checks, foreign currency, money orders, wire transfers, cryptocurrency, debt repayments, lottery tickets, casino

3 The Court assumes the truth of the FAC’s non-conclusory factual allegations. Kiobel v. Royal Dutch Petroleum Co., 621 F.3d 111, 124 (2d Cir. 2010). gaming chips, race track wagers, legal online wagers, or similar betting transactions, and any other similar cash-like transactions. (Id. ¶ 21; see also Agreement, Dkt. 19-1.) Plaintiff alleges that Defendant charges cash advance fees on transactions that fall outside of those enumerated in the Agreement. (FAC, Dkt. 19, ¶ 28.) Plaintiff focuses on one kind of transaction: making payments on peer-to-peer mobile applications. (See id. ¶¶ 23, 43.) Peer-to- peer mobile applications, such as Venmo, PayPal, and Wise,4 allow users to pay peers as well as businesses for goods and services. (Id. ¶ 42.) Plaintiff contends that Defendant’s Agreement provides “[r]easonable consumers . . . [with] no reason to conclude” that they would be charged

cash advance fees when making such payments. (See id. ¶ 72.) Payments on Wise are not like wire transfers, Plaintiff contends, because wire transfers “rely on the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network” to “route[] money through a series of intermediary banks,” whereas Wise does not use the SWIFT network. (Id. ¶ 44.) Nor is making a payment on Wise akin to a transaction to obtain a money order, Plaintiff maintains. (Id. ¶ 45.) Payments on peer-to-peer applications like Wise “are digital and only can be sent to a specific recipient, as opposed to a money order,” which is a “physical and negotiable instrument.” (Id.) For similar reasons, Plaintiff asserts that making a payment on Wise is unlike transactions to obtain “foreign currency,” or “travelers[] checks,” which “can be independently possessed to make a later purchase or transfer,” (see id. ¶ 29), or “withdrawing paper currency from an ATM or bank,” which

gives “the cardholder legal tender that can be spent anywhere,” (see id. ¶ 46). Peer-to-peer applications like Wise give consumers “no option to receive cash.” (Id.)

4 Wise is a peer-to-peer mobile application that allows users to make person-to-person money transfers using their credit cards. (See FAC, Dkt. 19, ¶¶ 40, 42, 48.) Plaintiff alleges that the Agreement’s reference to “other similar cash-like transactions” does not encapsulate payments made on peer-to-peer applications. (Id. ¶ 43; Agreement, Dkt. 19- 1, at ECF5 4.) “Cash-like,” Plaintiff asserts, “reasonably mean[s] currency or currency equivalents that can be used for any purpose,” and thus covers transactions to obtain travelers checks, money,

orders, or foreign currency. (FAC, Dkt. 19, ¶ 29.) By contrast, peer-to-peer applications “facilitate transactions for goods and services,” and do not offer “cash-like loans.” (Id. ¶ 47.) Making a payment on a peer-to-peer application is more equivalent to “standard digital purchases or swiping a credit card with a merchant that uses Stripe or Apple Pay.” (Id.) According to Plaintiff, for many years, Defendant did “not treat payments made on peer- to-peer mobile applications as ‘cash advances’ and did not charge Cash Advance Fees on such transactions.” (Id. ¶ 33.) Defendant hid its “true list of transaction types it considers [to be] ‘cash- like transactions.’” (Id. ¶ 26.) Defendant changed its policy on charging fees on peer-to-peer applications “[o]nly recently, and unbeknownst to consumers.” (Id. ¶ 33.) It now “routinely” assesses fees on transactions that are “not ‘similar’ to cash and that totally lack cash’s essential

characteristic as a fungible method of payment.” (Id. ¶ 28.) For example, on March 10, 2024, Plaintiff used his TD Bank card on Wise to purchase jewelry for $1,182.14. (Id. ¶ 48.) In so doing, Plaintiff “never received any cash or a cash-like transaction from [Defendant] that could later be used for a purchase.” (Id. ¶ 30.) Nonetheless, Defendant “deemed Plaintiff’s jewelry purchase . . . a ‘cash advance’ and charged [him] a cash advance fee of $59.11, in addition to immediately-accruing interest.” (Id. ¶ 48.)

5 Citations to “ECF” refer to the pagination generated by the Court’s CM/ECF docketing system and not the document’s internal pagination. II. Procedural History On October 29, 2024, Plaintiff filed his Complaint against Defendant, alleging breach of contract, breach of the implied covenant of good faith and fair dealing, as well as violations of New York’s and New Jersey’s consumer protection laws. (Compl., Dkt.

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Alexander Chiew, on behalf of himself and all others similarly situated v. TD Bank, N.A., Counsel Stack Legal Research, https://law.counselstack.com/opinion/alexander-chiew-on-behalf-of-himself-and-all-others-similarly-situated-v-nyed-2026.