5 Highlights of TD Bank Case Allegedly Discriminating against Employees of Chinese Descent

Jakarta, Pintu News – TD Bank, a major North American bank, is facing a serious lawsuit after being accused of discriminating against Chinese employees and customers. The lawsuit was filed in federal court in New York, alleging that the bank disproportionately targeted certain ethnic groups in an effort to assert compliance with anti-money laundering (AML) policies.

1. Lawsuit alleging systematic discrimination

According to lawsuit documents filed in late November 2025, TD Bank allegedly intentionally enforced AML policies unevenly across its branches, particularly in the Chinatown area of New York City. Instead of cracking down on violations based on concrete evidence, the bank is accused of targeting employees and customers of Chinese descent as scapegoats.

The plaintiff argued that this move was part of the bank’s strategy to appear assertive before regulators, albeit at the expense of certain communities without a strong evidence base.

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2. Chinese Employee Fired and Blacklisted

According to the complaint, a large number of employees of Chinese descent were fired en masse during a period of intense scrutiny from regulators. Not only that, their personal and business accounts were also closed by the bank, and they were barred from using TD Bank’s banking services in the future – a move described as “demarketing.”

This move is considered very ironic because TD Bank was previously said to have utilized the community to expand its business reach in the Chinatown area and build a positive reputation.

3. TD Bank Has Not Gave Official Response

As of the writing of this article, TD Bank has not issued an official statement regarding the lawsuit. However, as it involves alleged civil rights violations and race-based discrimination, the case is expected to attract widespread attention from the public and the banking community.

Observers mentioned that this case could set an important precedent in the world of fintech and traditional finance, especially regarding fair treatment in the application of AML policies to all levels of society.

4. Implications for the Reputation of Banks and the Financial Industry

If proven, these discriminatory allegations could have a major impact on TD Bank’s reputation and worsen public trust in large banking institutions. In the digital and crypto age, banks and financial institutions are expected to be more transparent and accountable, especially in dealing with sensitive issues such as race and ethnicity.

This incident serves as a reminder for other institutions not to misuse compliance policies as a pretext to discriminate against certain groups.

5. Uncovering the Risk of Discrimination in the World of Fintech and Crypto

While not directly related to digital assets, this case has important resonances in the crypto industry. Many crypto and fintech market participants come from minority communities, and this kind of discrimination can hinder their access to traditional banking services.

The crypto world, which promotes decentralization and financial inclusion, also needs to be wary of such exclusivity practices to avoid falling into the same pattern of discrimination.

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FAQ

What are the main allegations in the lawsuit against TD Bank?

TD Bank was accused of targeting and firing employees and closing accounts of Chinese customers under its anti-money laundering policy.

Who filed the lawsuit?

The lawsuit was filed by a number of former TD Bank employees and customers in federal court, based on an investigative report as of November 30, 2025.

Why is the bank’s action considered discriminatory?

Because AML policies are applied unevenly only in certain branches and target certain ethnic groups without evidence of violations.

Has TD Bank responded to this case?

Not yet. To date, there has been no public statement from TD Bank regarding the lawsuit.

What impact will this have on the crypto world?

This case emphasizes the importance of fair access to financial services for all communities, including crypto and fintech industry players.

Reference

• Alex Richardson / The Daily Hodl. Major Bank Hit With Lawsuit After Allegedly Terminating Accounts, Firing Employees of One Ethnic Minority. Accessed December 1, 2025.