Chase Card Fees

Case 2:19-cv-09518-GW-SS Document 1 Filed 11/05/19 Page 1 of 27 Page ID #:1
1 Marcus J. Bradley (State Bar No. 174156)

2 Kiley L. Grombacher (State Bar No. 245960)
Robert N. Fisher (State Bar No. 302919)
3 BRADLEY/GROMBACHER, LLP
4 2815 Townsgate Road, Suite 130
Westlake Village, California 91361
5
Tel: (805) 212-5124
6 Fax: (805) 270-7589
7
Richard D. McCune (State Bar No. 132124)
8 Michele M. Vercoski (State Bar No. 244010)
9 MCCUNE WRIGHT AREVALO, LLP
18565 Jamboree Road, Suite 550
10
Irvine, California 92612
11 Telephone: (909) 557-1250
12
Facsimile: (909) 557-1275
13 Attorneys for Plaintiff and the Proposed Class

14 UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
15
16 JOHN CALDWELL, on behalf of himself ) Case No.:
and all others similarly situated, )
17 ) Judge Assigned:
) Complaint Filed:
18 Plaintiffs, )
) CLASS ACTION COMPLAINT FOR:
19 v. )
)
20 )
JPMORGAN CHASE BANK, N.A., ) 1. BREACH OF CONTRACT;
21 ) 2. VIOLATION OF THE FEDERAL
Defendant. )
22 ) TRUTH IN LENDING ACT, 15
) U.S.C. § 1601, et. seq.;
23 )
) 3. DECLARATORY JUDGMENT
24 ) PURSUANT TO 28 U.S.C. § 2201
)
25 )
)
26 ) DEMAND FOR JURY TRIAL
)
27
28
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CLASS ACTION COMPLAINT
1 Pursuant to Rule 23 of the Federal Rules of Civil Procedure, Plaintiff John

2 Caldwell brings this class action individually and on behalf of all persons in California
3 who incurred cash advance fees and/or cash advance interest charges on a consumer
4 credit card issued by Defendant JPMorgan Chase Bank, N.A. (“Chase” or “Defendant”),
5 upon purchasing a cryptocurrency (“crypto”) from Coinbase.com or another online
6 crypto merchant. Plaintiff alleges upon personal knowledge as to himself and through
7 investigation of his counsel, and upon information and belief derived from, inter alia, a
8 review of court documents and publicly available news sources, such as newspaper
9 articles, as to all other matters, as follows:
10 INTRODUCTION
11 1. Plaintiff brings this suit individually and on behalf of all persons in the state
12 of California who, upon buying a cryptocurrency from Coinbase.com or another online
13 cryptocurrency merchant, incurred cash advance fees and/or cash advance interest
14 charges on a consumer credit card issued by Defendant Chase Bank USA, N.A.
15 2. Coinbase, Inc. (“Coinbase”) is one of the nation’s largest crypto sellers.
16 Coinbase is a privately held company that buys and sells cryptocurrencies to consumers
17 through its website, www.coinbase.com. Coinbase began allowing its customers to buy
18 cryptos with credit cards in 2016.
19 3. Defendant JPMorgan Chase Bank, N.A. is one of the largest credit card
20 issuers in the United States.
21 4. On information and belief, on around May 24, 2019, JPMorgan Chase Bank,
22 N.A. merged with Chase Bank USA, N.A. with JPMorgan Chase Bank, N.A. the
23 surviving entity. On information and belief, the behavior complained of includes the pre-
24 merger actions of both JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A and the
25 post-merger actions of the merged entity.
26 5. Upon opening a consumer credit card account, Chase provides the consumer
27 with a standard form contract stating the terms under which Chase will extend credit to
28
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1 the consumer. Under the contract, different types of credit card transactions result in
2 different types of finance charges. 1
3 6. Chase forms this contractual relationship with each of its cardholders
4 through written contracts and account-opening disclosures including, but not limited to, a
5 cardmember agreement and a rewards program agreement (hereinafter collectively
6 “Written Agreements”). “Purchases” and “Cash Advances” are defined under the
7 contractual terms in the cardmember agreement.
8 7. Chase’s Written Agreements with cardholders indicate that Chase treats
9 “Purchases” and “Cash Advances” differently with respect to whether transaction fees are
10 charged, the rate of interest paid, the point at which interest begins to accrue, and the
11 conditions under which interest is charged at all. As to each term that diverges between
12 Cash Advances and Purchases, it is advantageous to Chase for it to treat a transaction as a
13 Cash Advance instead of a Purchase.
14 8. In this regard, Chase’s Written Agreements with Plaintiffs state that Chase
15 will extend credit in the form of a Cash Advance in exchange for a transaction fee, the
16 greater amount of $10.00 or 5% of the transaction amount. Chase also indicates it will
17 assess interest charges of more than 26% annually, which accrue daily on both the
18 transaction amount and fee and begin to accrue on the date of the transaction.
19 9. Purchases, by contrast, are not assessed any transaction fees and are charged
20 lower interest rates, which only accrue, if ever, after a cardholder’s payment due date has
21 passed with a remaining balance. However, if the cardholder pays off the entire account
22 balance in full prior to the payment due date, no interest charges are assessed on any of
23 the cardholder’s purchases. This is unlike Cash Advance where heavy interest charges
24
25
26 1
Attached hereto as Exhibit A is a true and correct copy of one of Chase’s standard form Written
27 Agreements provided to cardholders upon opening their credit card accounts with Chase. See also
Chase’s online cardmember agreement at
28
https://www.chase.com/content/feed/public/creditcards/cma/Chase/COL00055.pdf (last visited
September 23, 2019).
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1 commence immediately with the advance of cash and continue until the balance is paid in
2 full.
3 10. Additionally, Chase rewards program agreements provide in relevant part
4 that points are earned on transactions for the “purchase[] of products and services” but
5 are not earned on transactions used for “cash advances” and for “travelers checks, foreign
6 currency, money orders, wire transfers or similar cash-like transactions.”2
7 11. Chase’s cardmember agreements delineate what constitutes a Cash Advance,
8 indicating that: “The following transactions will be treated as cash advances: purchasing
9 travelers checks, foreign currency, money orders, wire transfers or similar cash-like
10 transactions; purchasing lottery tickets, casino gaming chips, race track wagers or similar
11 betting transactions; and making a payment using a third party service.” On information
12 and belief, as far as is relevant to this case, all Chase-issued, consumer credit cards come
13 with substantially identical Written Agreements containing the same language. E.g., Ex.
14 A.
15 12. Chase’s Written Agreements do not expressly address cryptos or the
16 blockchain technologies upon which cryptocurrency operates.
17 13. As discussed more thoroughly herein, Chase instituted a practice of treating
18 crypto purchases as Cash Advances even though cryptocurrencies are neither “cash-like”
19 nor are they “similar” to Chase’s enumerated list of “cash-like” items – travelers checks,
20 foreign currency, money orders, and wire transfers.
21 14. These “cash-like” items are all financial instruments that have face values
22 and are redeemable for actual state-backed fiat currency. See ¶¶ 29-36 (describing the
23 characteristics of fiat currency). By contrast, Cryptocurrencies are not financial
24 instruments with face values and they are not redeemable for actual state-backed fiat
25 currency.
26
27
2
Attached hereto as Exhibit B is a true and correct copy of a Chase Freedom with Ultimate Rewards
28
Program Agreement that is provided to certain cardholders upon opening their credit card accounts with
Chase.
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1 15. Upon information and belief, beginning in 2016 or earlier until on or about
2 January 23, 2018, Chase routinely designated, disclosed, and charged Plaintiff and other
3 Class members’ crypto purchases as “Purchase” transactions under their cardmember
4 agreements.
5 16. Plaintiff John Caldwell used his Chase credit card to buy various
6 “cryptocurrencies,” some of which were from Coinbase. From 2017 until early 2018,
7 Defendant Chase properly classified Plaintiff’s acquisitions of cryptocurrency as
8 “purchases” transactions for purposes of Plaintiff’s operative credit card agreement.
9 Chase assessed no transaction fees and applied the same interest charges that it applied
10 for all non-cash advance credit card Purchases. Plaintiff made numerous crypto
11 purchases during early 2018, which Chase affirmatively designated, disclosed, and billed
12 to them as “Purchases.”
13 17. Then, between January 23, 2018 and February 2, 2019 (inclusive), Plaintiff
14 made additional cryptocurrency purchases using his same Chase credit card, under the
15 same credit card agreement.
16 18. Chase changed how it classified the crypto transactions occurring between
17 those dates and categorized them as “Cash Advances,” in contravention of the plain
18 language of its credit card agreements.
19 19. Chase assessed hundreds of dollars in surprise Cash Advance fees and
20 interest charges against Plaintiff in breach of the terms of its Written Agreements and
21 refuses to reverse them. Defendant’s acts and omissions breached its contract with
22 Plaintiff and violated the federal Truth in Lending Act (“TILA”) and Regulatory Z
23 promulgated thereunder by the U.S. Consumer Financial Protection Bureau (“CFPB”).
24 Defendant’s wrongful conduct was a direct and proximate result of Plaintiff and the Class
25 incurring millions of dollars in improper Cash Advance fees and interest charges on their
26 Chase credit cards for the purchase of cryptocurrencies. Such monetary damages are
27 quantifiable based on Chase’s database records of the transactions and finance charges in
28 question. Now Plaintiff and the Class seek relief from all Cash Advance fees and interest
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1 charges levied against them by Chase for their cryptocurrency purchases. Plaintiff and
2 the Class further seek declaratory judgment from this Court, clarifying the parties’ legal
3 obligations under the Written Agreements at issue.
4 PARTIES
5 20. Plaintiff John Caldwell is a resident of Los Angeles County, California and
6 has been a Chase credit card holder since October 2017 or earlier.
7 21. Defendant JPMorgan Chase Bank, N.A., is domiciled in New York, and is
8 one of the largest national banks and credit card issuers in the United States.
9 JURISDICTION AND VENUE
10 22. With respect to Plaintiffs’ claims under the Truth in Lending Act, 15 U.S.C.
11 § 1601, et seq., Regulation Z promulgated thereunder at Title 12, Part 1026 of the Code
12 of Federal Regulations, and the Declaratory Judgment Act, 28 U.S.C. § 2201, this Court
13 has jurisdiction over the subject matter of this action pursuant to 28 U.S.C. § 1331, as this
14 is a civil action arising under the laws of the United States.
15 23. With respect to Plaintiffs’ state law claims, the Court has jurisdiction under
16 28 U.S.C. § 1332(d) because the aggregate amount in controversy exceeds $5,000,000
17 and Plaintiff and Class members are citizens of States different from the Defendant. If,
18 however, the Court determines that it lacks jurisdiction over Plaintiff’s state law claims
19 under 28 U.S.C. § 1332(d), then it may exercise supplemental jurisdiction over such
20 claims pursuant to 28 U.S.C. § 1367.
21 24. Venue is proper in this district pursuant to 28 U.S.C. § 1391(b), as Plaintiff
22 resides within this district, and a substantial part of the events giving rise to the claims
23 presented herein are located within this district. In addition, Chase transacts substantial
24 business within this district. Many of the acts that constitute the violations of law
25 complained of herein occurred in substantial part in this district.
26
27
28
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1 BACKGROUND
2 The Chase Credit Card Written Agreements
3 25. Chase is both a national bank and a credit card issuer in the United States.
4 Chase issues a number of different credit cards to consumers nationwide, such as the
5 Chase Freedom, Chase Sapphire, and Chase Slate credit cards, which differ primarily
6 according to their “introductory offers” and “rewards” features. At all relevant times,
7 each Chase cardmember agreement sets forth the applicable interest rates and fees (if
8 any) that apply to different types of credit card transactions. Each agreement offers a
9 variable annual percentage rate (or “APR”) for ordinary “Purchases,” and a substantially
10 higher APR for so-called “Cash Advances.” For example, the current cardmember
11 agreement for the Chase Freedom card states that “Purchases” made with the Chase
12 Freedom Card will have an annual interest rate of “17.24%” but that “Cash Advances”
13 will have an interest rate of “27.24%.” Ex. A.
14 26. At all relevant times, with respect to ordinary “Purchases,” every Chase
15 credit card agreement states: “You [the cardholder] may use your account to buy goods
16 and services. We authorize charges to your account in accordance with the terms of this
17 agreement. Id.
18 27. With respect to “Cash Advances,” the Chase credit card agreement states:
19 You may obtain cash from automatic teller machines, at banks or
20 by using cash advance checks [provided by Chase]. Unless we
[Chase] say otherwise, balance transfer checks or promotional
21 checks made payable to cash or yourself will be treated as cash
22 advances. We treat certain other transactions as cash advances. See
the Cash-like Transactions section under [the] Important
23
Definitions [section] above.
24 Id.
25 28. Chase’s “Important Definitions” section defines “Cash-like Transactions”
26 as:
27 The following transactions will be treated as cash advances:
28 purchasing travelers checks, foreign currency, money orders, wire
transfers or similar cash-like transactions; purchasing lottery
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1 tickets, casino gaming chips, race track wagers or similar betting

2 transactions; and making a payment using a third party service.
Id.
3
4 29. Based upon the above language and definitions, Chase consistently and
5 continuously treated Plaintiff’s and all other card members’ “crypto” purchases as
6 ordinary “Purchases” up until late January 2018. The Written Agreements do not
7 enumerate any other type of Chase Credit card transaction as a “cash-like transaction”
8 subject to “Cash Advance” fees and interest charges.
9 Cryptocurrency is Not “Money”
10 30. The term “money” is most typically understood to refer to “fiat” money
11 which is “a kind of currency, issued by the government and regulated by a central
12 authority such as a central bank.” Such currencies act like “legal tender” and are not
13 typically backed by a physical commodity. Instead, money currency is based on the
14 credit of the economy.
15 31. Fiat currencies such as the US Dollar, Pound or Euro “derive their value
16 from the forces of supply and demand in the market” and generally lack intrinsic worth.
17 Because fiat money is not “linked to physical reserves, such as a national stockpile of
18 gold or silver,” it can lose its value due to inflation or hyperinflation. If people lose faith
19 in a nation's currency, the money will no longer hold value. That differs from currency
20 backed by gold as it has “intrinsic value” because of the demand for gold in jewelry and
21 other art objects as well as the manufacture of electronic devices, computers, computer
22 chips, and other goods, etc.
23 32. The U.S. dollar is considered to be “both fiat money and legal tender,” and
24 it is accepted for private and public debts. Legal tender is “any currency that a
25 government declares to be legal.” Many governments issue a fiat currency, then make it
26 legal tender by setting it as the standard for debt repayment.
27 33. Money is principally created through our country’s central bank, which is
28 called the Federal Reserve System. The Federal Reserve System interacts with public-
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1 facing depository institutions—or banks—with the major control over the process
2 ultimately resting in the central bank. Examining a dollar bill—the bill is labeled as a
3 “Federal Reserve Note,” and it displays the official seal of the United States Federal
4 Reserve System; further, the dollar bill states: “THIS NOTE IS LEGAL TENDER FOR
5 ALL DEBTS, PUBLIC AND PRIVATE.”
6 34. The term “money” also includes things like “foreign currency,” which is a
7 type of actual “currency” and, therefore, also a form of actual money issued by foreign
8 countries.
9 35. The term “wire transfer” denotes a transfer of actual money, whether foreign
10 or domestic, between deposit accounts at depository institutions. The deposits
11 themselves constitute money.
12 36. “Travelers checks” are financial instruments issued by financial institutions.
13 Travelers checks have a face monetary value based on the amount of money paid to the
14 issuer, by the consumer, to issue the checks. Travelers checks represent claims on actual
15 money, because someone paid—with money—for that money which the travelers checks
16 represent. Travelers checks are generally accepted as financial instruments because they
17 can be exchanged at banks for their face monetary value.
18 37. Likewise, money orders are issued financial instruments that represent
19 claims on money. “Similar” to travelers checks, money orders have a fixed monetary
20 value which is based on the amount of money paid to the issuer, by the consumer, to
21 issue the money order. Money orders are used for transferring money from one person
22 (or entity) to another by way of a third-party issuer. Money orders are accepted as
23 financial instruments and as payment due to the backing of an issuer, who has been paid
24 money to issue and honor the money order. The consumer buys from the issuer the
25 issuer’s promise to pay a given payee a particular dollar amount (or some other
26 currency).
27 ///
28
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1 Cryptocurrency or “Virtual Currency” is Merely a Digital Asset Not Accepted As

2 Payment
3 38. Cryptocurrency is not cash or money; it is a digital asset designed to work as
4 a medium of exchange. Cryptocurrency ostensibly uses strong cryptography to secure
5 financial transactions, control the creation of additional units, and verify the transfer of
6 assets. Cryptocurrencies use decentralized control as opposed to centralized
7 banking systems.
8 39. The decentralized control of each cryptocurrency works through distributed
9 ledger technology, typically a blockchain, that serves as a public financial transaction
10 database.
11 40. Bitcoin, first released as open-source software in 2009, is generally
12 considered the first decentralized cryptocurrency. Since the release of bitcoin, over
13 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been
14 created.
15 41. Bitcoin is a decentralized digital currency created by an unknown person or
16 group of people under the name “Satoshi Nakamoto.” Bitcoin was released as open-
17 source software in 2009.
18 42. Bitcoin uses peer-to-peer technology to operate with no central authority or
19 banks. Managing transactions and the issuing of bitcoins is carried out collectively by
20 the network. Bitcoin is open-source; its design is public, nobody owns or controls
21 Bitcoin and everyone can take part.
22 43. Bitcoin does not rely on a central server to process transactions or store
23 funds. And there are a maximum of exactly 2,099,999,997,690,000 Bitcoin elements
24 (called “Satoshis,” the unit has been named in collective homage to the original creator),
25 which are most commonly measured in units of 100,000,000 known as BTC. There will
26 only ever be 21 million Bitcoin (BTC) to be created.
27
28
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1 44. Cryptocurrencies are generally sent directly between two parties via the use
2 of private and public keys. These transfers can be done with minimal processing fees,
3 allowing users to avoid the steep fees charged by traditional financial institutions.
4 45. Cryptocurrencies are not legal tender for any debts, whether public or
5 private.
6 46. The government does not accept payment for taxes or other obligations,
7 such as traffic tickets or student loans, in “virtual currency.” The overwhelming
8 majority of private businesses and individuals will also not accept payment for the sale
9 of goods, services, or real or financial assets in “virtual currency.”
10 47. In fact, no government has a sovereign monopoly on the creation of
11 cryptocurrencies. No person or entity has any control at all over the creation of
12 cryptocurrencies.
13 48. Importantly, anyone can create their own cryptocurrency at any time, so
14 long as they are sufficiently skilled at programming computers. Cryptocurrencies are
15 arbitrary computer codes generated through the use of popular computer programming
16 languages, such as “C++.”
17 49. A “cryptographic function” can be described as a mathematical algorithm
18 which maps data of arbitrary size to a bit string (hence, the name “bitcoin”) of a fixed
19 size, called a “hash value” or “hash.” Cryptographic functions are designed to be one-
20 way mathematical functions: that is, a function which is practically impossible to solve in
21 reverse. The only way to recreate the input data from a proper cryptographic function’s
22 output data (the “hash”) is to try all possible inputs to see if they produce a matching
23 output. The input data of a cryptographic function is often called the “message,” and the
24 output hash value is often called the “message digest” or “digest “Satoshi Nakamoto.”
25 Some of the most popular cryptos available for “mining” or purchase today include
26 Litecoin, Ethereum, and Ripple.
27 50. In 2011, a computer scientist named Charlie Lee created Litecoin as another
28 open-source software project. Bitcoin and Litecoin software are largely the same: people
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1 can create and transfer “coins” (i.e., arbitrary computer codes) to each other based on an
2 open source, cryptographic protocol. All transfers are recorded and stored on the
3 “blockchain” that corresponds to the given “coin.” In 2012, someone else invented
4 Ripple. Someone else invented Ethereum in 2013. Ripple and Ethereum are less similar
5 to Bitcoin in their technical functions than is Litecoin. Ripple and Ethereum are also
6 different from each other in their technical functions.
7 51. Nobody has a monopoly, control or oversight on the invention of
8 cryptocurrencies. Additionally, once a new crypto-blockchain project is invented and
9 publicly distributed, it may well change into something else later. This is because the
10 blockchain upon which a given virtual currency operates is maintained through a
11 consensus of private computers running the given blockchain’s software; these private
12 computers are called “mining nodes.” Bitcoins and other cryptos are “mined” through
13 the use of private computers to solve complex math problems. Upon solving a given
14 math problem, the “miner” is awarded units of Bitcoin or whatever other crypto is being
15 “mined.”
16 52. Also, there is no central authority to validate transactions or ownership. In
17 fact, the widely known “Bitcoin” cryptocurrency of today is not the same “Bitcoin” that
18 existed as recently as 2017. They are, today, two distinct virtual currencies operating on
19 two distinct blockchains, with two different records of transactions and ownership.
20 Likewise, the “Ethereum” cryptocurrency of today is not the same “Ethereum”
21 cryptocurrency of 2015. In both cases, a “forking” of the blockchain and corresponding
22 cryptocurrency occurred because of significant changes to the blockchain’s software that
23 not all users (or “mining nodes”) agreed upon. Consequently, in each case, there are now
24 two distinct cryptocurrencies instead of one.
25 53. Private computer programmers create cryptos, and private computer
26 programmers can and do change the nature, function and ownership of cryptos on any
27 given moment of any given day. And “forking” is not considered to be unlawful or
28 unfair.
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1 54. Cryptos can also have use beyond just serving as digital units of “currency.”
2 For example, Ethereum is a blockchain software platform focused on providing “smart
3 contracts.” Smart contracts are computer programs that are stored on the Ethereum
4 blockchain, and can be accessed by Ethereum users. 3 Smart contracts are capable of
5 managing agreements between users, storing information about a particular application
6 (such as domain registration information or membership records), and interacting with
7 other “smart contracts” (i.e., computer programs).
8 55. Ultimately, despite the lack of government endorsement of cryptos,
9 economic status, centralized oversight, acceptability as payment, or even cognitive
10 accessibility in the minds of laypersons, cryptocurrencies have gained public attention for
11 their potential applications in the future of business.
12 56. Currently, however, cryptocurrencies are not “money” nor are they
13 derivatives of money in our government or in foreign governments.
14 57. Cryptocurrencies do not have face values, cannot be exchanged directly for
15 any currency, and cryptocurrency “coins” are not backed by any currency. Virtual
16 currencies and their blockchain systems are private-sector technologies, arbitrary
17 computer codes, and software applications.
18 58. Upon information and belief, during the relevant time period, Chase used the
19 Visa credit card network to process transactions on all Chase credit cards.
20 59. On March 2018, Visa’s Chief Financial Officer publicly distinguished
21 cryptocurrency from actual currency stating: “My personal view is that cryptocurrencies
22 are more speculative investment commodities than payment options, operating in a very
23 unsettled regulatory environment.” He further commented on one of the many
24 fundamental differences between cryptocurrencies and money: “With a currency issued
25 by the Federal Reserve, I know who stands behind it.” With cryptocurrency, he said:
26 “Who’s good for the money? Who the hell knows?” In addition, he opined, “This is the
27
28
3
See https://www.coindesk.com/information/ethereum-smart-contracts-work (last visited on 9/16/2019).
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1 ultimate thing that you hear about when you have a bubble, when the guy shining your
2 shoes tells you what stock to buy.” 4
3 60. The U.S. Internal Revenue Service defines cryptocurrency to be personal
4 “property” (not “currency,” or money) for federal tax purposes. The U.S. Internal
5 Revenue Service issued Notice 2014-21 which defined virtual currencies as follows:
6 SECTION 4. FREQUENTLY ASKED QUESTIONS
7 Q-1: How is virtual currency treated for federal
tax purposes?
8
9 A-1: For federal tax purposes, virtual currency
is treated as property. General tax principles
10
applicable to property transactions apply to
11 transactions using virtual currency.
12
Q-2: Is virtual currency treated as currency for
13 purposes of determining whether a transaction
14 results in foreign currency gain or loss under
U.S. federal tax laws?
15
16 A-2: No. Under currently applicable law, virtual
17
currency is not treated as currency that could
generate foreign currency gain or loss for U.S.
18 federal tax purposes.5
19
61. Further, the U.S. Commodity Future Trading Commission (with recent
20
Federal Court approval) defines virtual currencies, i.e., cryptocurrencies, as “goods.”
21
See, e.g., C.F.T.C. v. McDonnell, 287 F.Supp.3d 213, 228 (E.D.N.Y. 2018) (“Virtual
22
currencies are ‘goods’ exchanged in a market for a uniform quality and value.”).
23
Crypto Sellers Are Credit Card Merchants
24
62. As virtual currencies began to spread, the industry began to develop a new
25
infrastructure to facilitate the buying and selling of cryptocurrencies. For example, one
26
27
4 https://www.cnbc.com/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html (last visited on
28
10/28/2019).
5
See https://www.irs.gov/pub/irs-drop/n-14-21.pdf (last visited on 9/23/2019).
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1 such entity is called “Coinbase” (www.coinbase.com). Coinbase is one of the largest

2 cryptocurrency dealers in the United States.6 Coinbase.com is owned and operated by
3 San Francisco-based Coinbase, Inc., a privately held company that buys and sells
4 cryptocurrencies to consumers through a user-friendly website. Although Coinbase is
5 sometimes referred to as a cryptocurrency “exchange,” it is not analogous to stock or
6 security exchanges.
7 63. Everyday people can now acquire virtual currency without the need to
8 become a computer science expert to “mine” the cryptocurrencies themselves. Coinbase
9 is one of the easiest ways to buy cryptocurrency. A user simply creates an online account
10 on Coinbase and then can immediately select and purchase a virtual currency—using his
11 or her credit or debit card or bank account. Even Coinbase itself buys cryptos from
12 sellers and then sells cryptos to its customers, rather than simply facilitating transactions
13 between customers.
14 64. In mid-2016, Coinbase began accepting credit card payments from its
15 customers for cryptos. Many consumers took advantage of the opportunity to buy
16 cryptos with their credit cards, not because they needed to borrow money to make the
17 purchase, but because using a credit card was the most convenient way to acquire cryptos
18 instantly via Coinbase and other merchants. Buying virtual currencies with a bank
19 account number would require days of processing time, so many consumers used their
20 credit cards to buy cryptocurrencies from Coinbase and other merchants to avoid delays
21 in delivery. Additionally, cryptocurrency purchases using credit cards generated rewards
22 points or miles which can be redeemed for account credits, travel, or other items with
23 cash value.
24 SUBSTANTIVE ALLEGATIONS
25 65. As indicated above, Chase is one of the largest national banks and credit
26 card issuers in the United States.
27
28
6
See https://www.coinbase.com/(last visited 9/23/2019).
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1 66. Upon information and belief, Chase issued a credit card to Plaintiff and to
2 the Class of Plaintiffs under substantially similar Credit Card Member Agreements. At
3 all relevant times, each Chase card member agreement had set forth the applicable
4 interest rates and fees that applied to different types of credit card transactions. In
5 addition, each service agreement offered some variable annual percentage rate (or
6 “APR”) for ordinary “purchases,” and a substantially higher APR for so-called “Cash
7 Advances.”
8 67. With respect to “Purchases,” the Chase card member agreement stated:
9 “You [the cardholder] may use your account to buy goods and services. We authorize
10 charges to your account in accordance with the terms of this agreement.”
11 68. With respect to “Cash Advances,” the Chase card member agreement has
12 stated: “You may obtain cash from automatic teller machines, at banks or by using cash
13 advance checks [provided by Chase]. Unless we [Chase] says otherwise, balance transfer
14 checks or promotional checks made payable to cash or yourself will be treated as “cash
15 advances.” We treat certain other transactions as cash advances. See the Cash-like
16 Transactions section under [the] Important Definitions [section] above.
17 69. Chase’s “Important Definitions” section then defined “Cash-like
18 Transactions” as follows: “The following transactions will be treated as cash advances:
19 purchasing travelers checks, foreign currency, money orders, wire transfers or similar
20 cash-like transactions; purchasing lottery tickets, casino gaming chips, race track wagers
21 or similar betting transactions; and making a payment using a third party service.”
22 70. Chase has consistently and continuously treated “crypto” purchases as
23 ordinary “Purchases” up until late January 2018.
24 71. However, after January of 2018, Chase began categorizing “crypto”
25 purchases as “Cash-like” transactions. On or about February of 2018, Plaintiff first
26 noticed that he was charged with a “Cash Advance Interest Fee” on his Chase Freedom
27 credit card statement, in addition to the fact that the interest began accumulating
28 immediately.
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1 72. On Plaintiff’s July 28, 2018, Chase credit card statement, Plaintiff was
2 assessed “late fees” for a past due amount of $2.58—of which he was unaware because it
3 related to the higher interest rates he was charged for “Cash Advances” versus
4 “Purchases.”
5 73. The annual interest rates on the “purchases” of goods was 15.24% on
6 Plaintiff’s Chase Freedom card. For Cash Advances, Chase charged 26.24% interest to
7 Plaintiff’s account. Prior to February of 2018, buying cryptocurrencies directly from a
8 third-party credit card merchant never constituted a “Cash Advance” under Chase’s
9 definition of cash or “Cash-like transactions.” Such transactions for purchases of cryptos
10 did not constitute purchasing “travelers checks, foreign currency, money orders, wire
11 transfers or similar cash-like transactions; purchasing lottery tickets, casino gaming chips,
12 [or] race track wagers . . . .”
13 74. Moreover, from 2016 through January 22, 2018, Defendant consistently and
14 correctly recognized that cryptocurrencies are “goods” as evidenced by their own
15 treatment of these transactions as “purchases.”
16 75. Prior to February of 2018, Plaintiff bought cryptocurrencies from Coinbase
17 on using his Chase Freedom credit card. Prior to February of 2018, Chase affirmatively
18 designated, disclosed, and charged Plaintiff’s crypto purchases as “Purchase” transactions
19 under his cardmember service agreement.
20 76. After January of 2018, Plaintiff bought cryptocurrencies from Coinbase on
21 other occasions using his Chase credit card, reasonably believing these transactions to be
22 “Purchase” transactions as they had been in the past. At no point did Chase amend its
23 service agreement with Plaintiff, or otherwise disclose any change to the terms of
24 Plaintiff’s service agreement, or to the actual credit terms on his account.
25 77. However, after January of 2018, Chase affirmatively designated and charged
26 Plaintiff’s crypto purchases as “Cash Advance” transactions under his service agreement.
27 Chase assessed substantial Cash Advance fees and interest charges against the Plaintiff
28 for these transactions, and Chase refused to remove them despite Plaintiff’s numerous
-17-
1 attempts to work with Chase. Chase also did not award Plaintiff any rewards points for
2 these transactions.
3 78. Upon information and belief, it was Chase’s unilateral decision (and not any
4 merchant’s decision or action) to wrongfully assess Cash Advance fees and interest
5 charges against Plaintiff and the Class in contravention of the terms of the Written
6 Agreements.
7 79. Upon information and belief, Chase knew that on or about January 2018,
8 many of its customers, like Plaintiff, had been using their Chase credit cards to buy
9 cryptos from Coinbase or other crypto merchants. Chase further knew that it had always
10 taken the position to designate and charge such transactions as “Purchases” under the
11 membership agreement. Yet Chase declined to notify Plaintiff and other cardholders of
12 this important change in terms regarding how Chase treated cryptocurrencies under the
13 credit card agreement.
14 80. Over the next several months, Plaintiff and other cardholders complained to
15 Chase about the surprise charges on the crypto purchases. Chase initially responded by
16 foisting the blame on Coinbase and other merchants—stating that it was Visa and
17 Mastercard that changed the “coding” for how crypto was categorized—or that it was
18 Coinbase’s fault for “reversing” the charges, but these excuses were patently untrue.
19 81. At no point did Chase attempt to notify Plaintiff — either before or
20 immediately after he executed his post-January 2018 crypto purchases — that such
21 purchases would be deemed “Cash Advance” transactions rather than “Purchase”
22 transactions under his service agreement. Had Plaintiff known that Chase was going to
23 treat his virtual currency purchases as Cash Advances, Plaintiff would not have used his
24 Chase credit card to buy virtual currencies on or after January of 2018, and would not
25 have incurred the Cash Advance fees and interest charges that Chase unilaterally imposed
26 upon him.
27
28
-18-
1 82. On or about October 22, 2018, Plaintiff contacted Chase with his concerns
2 about the surprise fees on his crypto purchases. Chase responded to Mr. Caldwell by
3 putting the blame on Coinbase. Chase stated:
4 Here’s what you need to know about the Coinbase purchases:
5 • We are aware of the Coinbase purchases that appear on your account. On
6 February 15, Coinbase reversed the previous purchases and fees because
7 they were coded incorrectly. They immediately reposted the purchase as
8 quasi-cash transactions with the applicable cash advance fees.
9 83. Chase falsely and deceptively placed the blame for the “incorrectly” coded
10 purchases on Coinbase. However, merchants such as Coinbase are incapable of
11 processing their customers’ credit card transactions as “purchases,” or “cash advances,”
12 or “balance transfer,” or whatever else may be appropriate. Only the card issuer is
13 capable of setting the actual credit terms for particular types of credit card transactions.
14 Chase made the unilateral decision to impose these fees and interest charges against
15 Plaintiff and other cardholders; no other person or entity forced Chase to decide upon or
16 impose these charges.
17 84. Further, merchants like Coinbase were never tasked with “correcting the
18 issue” with respect to their Merchant Category Codes (“MCCs”). MCC’s are the coding
19 abbreviations that a merchant is told to use by the bank or credit card issuer for different
20 types of transactions. Coinbase and other “merchants” were affirmatively told by Chase
21 to change their MCC coding to a MCC that clearly should not apply to cryptocurrency
22 sellers like Coinbase. Investigators within the tech industry looked into this issue—and
23 found that it was the “. . . card issuers [that] changed the Merchant Category Code (MCC)
24 for Coinbase, meaning all transactions would now be classified as cash advances (which
25 typically means [the] bank charges a higher fee).” The report clarified that: “None of
26 these extra fees go to Coinbase, and it’s ultimately a negative . . . since the higher fee will
27 likely lead to a decline in users purchasing cryptocurrency with their credit cards.”
28
-19-
1 85. Chase took their greed even further—Chase applied the MCC coding change
2 retroactively. One might assume that any such changes would be applied only to future
3 transactions; however, Chase (Visa) reversed and recharged some crypto transactions that
4 occurred between January 22 and February 11, 2018, in order to classify them under the
5 new MCC for Cash Advances.
6 86. This MCC change was unfairly and unilaterally imposed upon Coinbase and
7 other merchants on or about January 23, 2018, for the particular purpose of helping Chase
8 make more money on Cash Advance transactions under its cardmember agreements.
9 87. Merchants, like Coinbase, were never “selling” these transactions to Chase
10 because Chase has always had complete control over its own billing systems, including
11 whether Chase charges different MCC’s as Purchases or Cash Advances. Chase’s switch
12 from “Purchases” to “Cash Advances” was not merely the result of some technical error
13 on the part of Coinbase or its financial institution. Chase changed how its credit card
14 transactions were processed in order to implement Chase’s desired change in credit terms
15 against Plaintiff and the Class.
16 88. Plaintiff again contacted Chase on or about November 19, 2018, to discuss
17 his concerns about how Chase handled his cryptocurrency transactions. Chase changed
18 its policy again—now claiming that cryptocurrency is “foreign currency.” In a letter
19 dated December 2, 2018, Chase stated in its letter response to Plaintiff:
20 The acquisition of cryptocurrency is the same as
21 purchasing foreign currency. It is a cash advance. This
is the same as purchasing travelers’ checks, money
22 orders, wire transfers or similar cash-like transactions.
23
We charge a cash advance fee of $10 or 5% of the cash
24
advance amount, whichever is greater. We charge it to
25 your account balance when the transaction has posted to
26 your account. You may also be charged ATM fees.
27 The Annual Percentage Rate (APR) on cash advances is

28 currently 26.99% variable. There is no interest-free
-20-
1 period for cash advances and interest charges accrue

2 daily.
3 89. It was Chase’s decisions and actions, not any merchant’s decision or action,
4 that allowed Chase to assess these Cash Advance fees and interest charges against
5 Plaintiff and the Class in contravention of the terms of the Written Agreements. Almost
6 immediately after January 23, 2018, all remotely involved entities (Chase, Visa, and
7 Coinbase, among others), were faced with widespread customer outrage as well as
8 national media inquiries regarding these charges.
9 90. In response, Chase decided to simply decline all crypto transactions on its
10 credit cards, post-January 23, 2018. In a statement to CNBC the same day, a Chase
11 spokesperson said, “[a]t this time, we are not processing cryptocurrency purchases using
12 credit cards, due to the volatility and risk involved.”
13 91. And yet, just four days after deciding to decline all crypto purchases, on
14 February 6, 2018, Chase began allowing customers to use their credit cards to gamble on
15 horse-racing. Chase unilaterally decided to allow gambling charges while Chase
16 disallowed cryptocurrencies.
17 CLASS ACTION ALLEGATIONS
18 92. Plaintiff brings this action as a class action pursuant to Federal Rule of Civil
19 Procedure 23(a) and (b)(3) on behalf of a Class, consisting of all persons in the State of
20 California who, upon purchasing a cryptocurrency from Coinbase.com or another credit
21 card merchant, incurred cash advance fees and/or cash advance interest charges on credit
22 cards issued by Chase. Excluded from the Class are Chase Officers and Directors or JP
23 Morgan Officers and Directors, or members of their immediate families and/or their legal
24 representatives, heirs, successors or assigns, and any entity in which Chase or JP Morgan
25 has or had a controlling interest.
26 93. The members of the Class are so numerous that joinder of all members is
27 impracticable. Leading up to and during January and February 2018, hundreds if not
28 thousands of California Chase credit card members used their Chase cards to purchase
-21-
1 cryptos for thousands if not millions of dollars, collectively. While the exact number of
2 Class members is unknown to Plaintiff at this time, and can be ascertained only through
3 appropriate discovery, Plaintiff believes that there are hundreds or thousands of members
4 in the proposed Class. Members of the Class may be identified and located from
5 database records maintained by Chase and may be notified of the pendency of this action
6 by electronic mail and/or regular mail, using the form of notice similar to that
7 customarily used in class actions.
8 94. Plaintiff’s claims are typical of Class members’ claims, as all members of
9 the Class are similarly affected by Defendant’s wrongful conduct in violation of law, as
10 complained of herein.
11 95. Plaintiff will fairly and adequately protect the interests of Class members
12 and has retained counsel competent and experienced in class action litigation. Plaintiff
13 has no interests antagonistic to or in conflict with those of the Class.
14 96. Common questions of law and fact exist as to all members of the Class and
15 predominate over any questions solely affecting individual members of the Class.
16 Among the questions of law and fact common to the Class are:
17 a. whether Chase breached its Written Agreements with Plaintiff and the
18 Class;
19 b. whether Chase’s Written Agreements and account-opening
20 disclosures and periodic statements to Class members were clear and
21 conspicuous, and not ambiguous or objectively misleading;
22 c. whether Chase’s periodic account statements to Class members did or
23 did not reflect the true terms of the legal obligations between the
24 parties at all times relevant herein;
25 d. whether Chase violated TILA and Regulation Z by failing to have
26 clear and conspicuous disclosures to Class members;
27
28
-22-
1 e. whether Plaintiff and the Class suffered damages as a result of

2 Chase’s acts and omissions as alleged herein, and the proper measure
3 of such damages; and
4 f. whether Plaintiffs and the Class are entitled to statutory damages,
5 reasonable attorneys’ fees and expenses as a result of Chase’s
6 conduct.
7 97. A class action is superior to all other available methods for the fair and
8 efficient
9 adjudication of this controversy since joinder of all members is impracticable.
10 Furthermore, as the damages suffered by individual Class members may be relatively
11 small, the expense and burden of individual litigation would make it difficult if not
12 impossible for members of the Class to redress the wrongs done to them on an individual
13 basis. There will be no difficulty in the management of this case as a class action.
14 COUNT I
15 Breach of Contract
16 98. Plaintiff hereby repeats and re-alleges each and every allegation set forth
17 above as if fully set forth herein. Plaintiff and each member of the Class entered into an
18 adhesive cardmember agreement with Defendant Chase Bank, USA, N.A.
19 99. The Written Agreements provided that, “This Agreement is governed by the
20 laws of the State of Delaware (without regard to its conflict of laws principles) and by
21 any applicable federal laws.” See, e.g., Exs. A and B.
22 100. Under Delaware law, Defendant Chase and its agents acting on its behalf
23 breached the Written Agreements between Chase and members of the Class by charging
24 Cash Advance fees and interest charges and by failing to furnish rewards points and/or
25 miles on credit card transactions which did not and do not constitute “Cash Advances” or
26 “Cash-like” transactions under Chase’s Written Agreements.
27 101. As a direct and proximate result of Defendant’s breaches of its cardmember
28 agreements with Class members, and the implied covenant of good faith and fair dealing,
-23-
1 Plaintiff and each member of the Class have sustained financial losses, costs, damages
2 and expenses in amounts to be proven at the trial of this matter.
3 COUNT II
4 Violations of Truth in Lending Act, 15 U.S.C. §§ 1601, et seq., Regulation Z, 12
5 C.F.R. §§ 1026.1, et seq. – “Clear and Conspicuous” Requirement
6 102. Plaintiff hereby repeats and re-alleges each and every allegation set forth
7 above as if fully set forth herein.
8 103. TILA expressly provides that, “[i]nformation required by this subchapter
9 shall be disclosed clearly and conspicuously, in accordance with Regulations of the
10 Bureau.” 15 U.S.C. § 1632(a). Regulation Z, in turn, provides that, “[t]he creditor shall
11 make the disclosures required by this subpart clearly and conspicuously.” 12 C.F.R. §
12 1026.5(a)(1)(i).
13 104. Interpreting TILA, the Bureau provides in Subpart B of Regulation Z that
14 Defendant must make certain “[a]ccount-opening Disclosures” in a “clear and
15 conspicuous” manner, including but not limited to “[t]he type of transaction to which [an
16 interest] rate applies, if different rates apply to different types of transactions.” 12 C.F.R.
17 § 1026.6(b)(4)(i)(C).
18 105. A credit card disclosure required by TILA and Regulation Z is not “clear and
19 conspicuous” within the meaning of TILA and Regulation Z if such disclosure is
20 ambiguous from the perspective of a reasonable consumer. 7 It is this requirement of
21 TILA and Regulation Z that requires Chase to actually define the terms “Purchase” and
22 “Cash Advance” in the first place; creditors may not simply say “the rate for Purchases is
23 X, and the rate for Cash Advances is Y,” and disclose nothing more, as such ambiguous
24
25
26
7 See, e.g., Rubio v. Capital One Bank, 613 F.3d 1195, 1202 (9th Cir. 2010) (“[I]t is precisely because
reasonable consumers can interpret an ambiguous disclosure in more than one way that such a disclosure
27 cannot be clear and conspicuous.”); Watts v. Key Dodge Sales, Inc., 707 F.2d 815, 817 (5th Cir. 1983)
(“At the very least, the provision is ambiguous, thus violating the TILA or Regulation Z.”); In re
28
Whitley, 772 F.2d 815, 817 (11th Cir. 1985) (“[T]hese divergent readings of the provision render the
language ambiguous and therefore violative of TILA and Regulation.”).
-24-
1 language would not “clearly and conspicuously” disclose to consumers the “types of
2 transactions to which the [given] rate applies.”
3 106. By disclosing “Cash Advances” and “Cash-like Transactions” to include
4 “purchasing travelers checks, foreign currency, money orders, wire transfers or similar
5 cash-like transactions,” Chase’s account-opening disclosures were, in fact, unclear,
6 ambiguous and affirmatively misleading as to the “types of transactions to which the
7 [Cash Advance] rate applies.” As such, disclosure would leave the reasonable consumer
8 confused and misled as to which other types of transactions are sufficiently “similar” to
9 the enumerated transactions (namely, “purchasing travelers checks, foreign currency,
10 money orders, [or] wire transfers”), and sufficiently “cash-like,” to be subject to Chase’s
11 “Cash Advance” charges. As alleged herein, cryptocurrency purchases are not
12 objectively “cash-like” or “similar” to foreign currency, etc., when compared with the
13 types of transactions enumerated as “cash-like” within the cardmember agreement.
14 Chase’s required disclosures were ambiguous (at best) and misleading, not “clear and
15 conspicuous” as required under TILA and Regulation Z, with respect to the “types of
16 transactions to which the [Cash Advance] rate applies.”
17 107. Had Chase provided Plaintiffs and the Class with “clear and conspicuous”
18 disclosures as required by TILA and Regulation Z in either or both of their cardmember
19 agreements, then Plaintiff and other Class members would not have used their Chase
20 credit cards to purchase virtual currencies and would not have incurred Chase’s surprise
21 “Cash Advance” fees or interest charges, effectively taking out personal cash loans from
22 Chase without their knowledge or consent.
23 108. Plaintiff and the Class acted reasonably at all relevant times; Chase used the
24 “surprise” fees to profit from its own customers.
25 109. Pursuant to 15 U.S.C. § 1640(a), Plaintiff and the Class bring this Count to
26 recover their actual financial damages, plus statutory damages in the aggregate amount of
27 $1 million, plus their costs of this action and reasonable attorneys’ fees and expenses
28 incurred therein.
-25-
1 COUNT III
2 Declaratory Judgment, 28 U.S.C. § 2201
3 110. Plaintiff hereby repeats and re-alleges each and every paragraph set forth
4 above as though fully set forth herein.
5 111. Pursuant to 28 U.S.C. § 2201, Plaintiff and the Class are entitled to have this
6 Court establish by declaration their rights and legal relations under their Written
7 Agreements with Chase.
8 112. Accordingly, Plaintiff on behalf of the Class prays for a declaration that the
9 terms of the Written Agreements with Chase do not permit Chase to impose “Cash
10 Advance” fees and interest charges against Plaintiff and the Class for buying virtual
11 currencies from third-party credit card merchants and that those transactions entitle
12 Plaintiff and the Class to rewards points at the rate set forth in the relevant Rewards
13 Program Agreements.
14 IV
15 PRAYER FOR RELIEF
16 WHEREFORE, Plaintiff and the Class Members pray for relief against Defendant
17 as follows:
18 A. Determining that the instant action may be maintained as a class action
19 under Rule 23 of the Federal Rules of Civil Procedure, and certifying Plaintiff as Class
20 representative, and the law firms of Bradley/Grombacher, LLP and McCune, Wright &
21 Arevalo, LLC, as Class Counsel;
22 B. Requiring Defendant to pay the actual damages sustained by Plaintiff and
23 the Class by reason of the acts and transactions herein alleged;
24 C. Awarding Plaintiff and the Class additional statutory damages in the
25 aggregate amount of §1 million pursuant to 15 U.S.C. § 1640(a);
26 D. Awarding Plaintiff and other members of the Class prejudgment and post-
27 judgment interest, as well as reasonable attorneys’ fees, expert fees and other costs and
28 expenses of this litigation;
-26-
1 E. Declaring that the terms of Plaintiff’s and the Class’s Written Agreements
2 with Chase do not permit Chase to impose “Cash Advance” fees and interest charges on
3 Class members for their purchases of virtual currencies from third-party credit card
4 merchants and that those transactions entitle Plaintiff and the Class to rewards points at
5 the rate set forth in the relevant Rewards Program Agreements.; and
6 F. Awarding such other relief as the Court may deem just and proper.
7 JURY DEMAND
8 Plaintiff hereby demands a trial by jury.
9 DATED: November 5, 2019 BRADLEY/GROMBACHER, LLP
10
11 BY: /s/ Kiley L. Grombacher
12 Kiley L. Grombacher (State Bar No. 245960)
kgrombacher@bradleygrombacher.com
13 Marcus J. Bradley (State Bar No. 174156)
14 mbradley@bradleygrombacher.com
Robert N. Fisher (State Bar No. 302919)
15
rfisher@bradleygrombacher.com
16 2815 Townsgate Road, Suite 130
17 Westlake Village, California 91361
Tel: (805) 212-5124
18 Fax: (805) 270-7589
19
MCCUNE WRIGHT AREVALO, LLP
20
21 BY: /s/ Richard D. McCune
22
Richard D. McCune (State Bar No. 132124)
rdm@mccunewright.com
23 Michele M. Vercoski (State Bar No. 244010)
24 mmv@mccunewright.com
McCune Wright Arevalo, LLP
25 18565 Jamboree Road, Suite 550
26 Irvine, California 92612
Telephone: (909) 557-1250
27
Facsimile: (909) 557-1275
28
Attorneys for Plaintiffs and the Proposed Class
-27-

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Case 2:19-cv-09518-GW-SS Document 1 Filed 11/05/19 Page 1 of 27 Page ID #:1

1 Marcus J. Bradley (State Bar No. 174156)

13 Attorneys for Plaintiff and the Proposed Class

1 Pursuant to Rule 23 of the Federal Rules of Civil Procedure, Plaintiff John

1 tickets, casino gaming chips, race track wagers or similar betting

1 Cryptocurrency or “Virtual Currency” is Merely a Digital Asset Not Accepted As

1 such entity is called “Coinbase” (www.coinbase.com). Coinbase is one of the largest

27 The Annual Percentage Rate (APR) on cash advances is

1 period for cash advances and interest charges accrue

1 e. whether Plaintiff and the Class suffered damages as a result of

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