TD Bank Avoids Consumer Suit Over Fee for Paper Statements

TD Bank NA won dismissal of a proposed class suit over its $1 monthly fee to customers who want paper statements, as a New York federal court said a state law barring such fees violated the bank’s First Amendment rights to free speech.

Maya Manship alleges the bank violated a section of New York’s General Business Law, which prohibits paper statement fees in connection with billing statements in certain circumstances. That alleged violation gave rise to her consumer protection suit.

But she can’t pursue her claim under New York consumer protection law because the underlying business law infringes on ...