TD Bank Extra Charges for Paper Statements New York Class Action

In recent years, many consumers and businesses have begun doing as many transactions online as possible. In fact, many banks have taken to charging customers who still want paper account statements to come in the mail. In 2010, New York enacted a law that “made it a deceptive act and practice for a company to charge a fee to customers” to send them their account statements on paper via the US mail. The complaint for this class action alleges that TD Bank, NA violates this law and does charge customers for this.

The class for this action is all New York residents who were charged a fee by TD Bank to receive their account statements in paper form, between March 23, 2017 and either (a) the date the class list is prepared in this case or (b) the data TD Bank stops charging customers for receiving their statements in paper form.

The law is part of New York’s General Business Law. The complaint quotes it as saying, “[P]aper billing and payment fees unfairly impact consumers that do not have Internet access in their homes, as well as those that are uncomfortable using the Internet, including many senior citizens and those concerned about personal privacy. Paper billing and payment fees disproportionately affect low-income consumer, who are less likely to have access to the Internet.”

The complaint argues that paper account statements may serve important functions for consumers:

  • They provide a record of transactions.
  • They allow customers to check for unauthorized charges or mistakes.
  • They disclose the fees that the bank is charging.
  • They let customers make sure they received proper credit for items that are returned or disputed.
  • They help customers keep track of their finances.
  • They are a permanent record of the customer’s income, expenses, transactions, and fees.
  • They may be useful in preparing tax returns or applying for mortgages.

Even when customers have accessed information through a computer or mobile device, the complaint says, they may not be able to access that information when they want it, and they may not be comfortable monitoring an account online. It claims that details are more easily overlooked on a small mobile screen where the fine print may not be seen easily.

Paper statements are not subject to computer crashes, computer changes, or other occasions for data loss, and they will still be available even after a customer closes an account.

Plaintiff Maya Manship lives in Rensselaer County, NY and has an account with TD Bank. She gets paper statements for the account. TD Bank charges her $1 for the paper statement and a separate $5.99 account maintenance fee.

Article Type: Lawsuit
Topic: Consumer

Most Recent Case Event

TD Bank Extra Charges for Paper Statements New York Complaint

March 23, 2020

In recent years, many consumers and businesses have begun doing as many transactions online as possible. In fact, many banks have taken to charging customers who still want paper account statements to come in the mail. In 2010, New York enacted a law that “made it a deceptive act and practice for a company to charge a fee to customers” to send them their account statements on paper via the US mail. The complaint for this class action alleges that TD Bank, NA violates this law and does charge customers for this.

TD Bank Extra Charges for Paper Statements New York Complaint

Case Event History

TD Bank Extra Charges for Paper Statements New York Complaint

March 23, 2020

In recent years, many consumers and businesses have begun doing as many transactions online as possible. In fact, many banks have taken to charging customers who still want paper account statements to come in the mail. In 2010, New York enacted a law that “made it a deceptive act and practice for a company to charge a fee to customers” to send them their account statements on paper via the US mail. The complaint for this class action alleges that TD Bank, NA violates this law and does charge customers for this.

TD Bank Extra Charges for Paper Statements New York Complaint
Tags: Extra Charges, Your Bank