OPINION & ORDER Defendant Wells Fargo Bank, N.A. (“Wells Fargo”) moves to compel arbitration pursuant to the Federal Arbitration Act (“FAA”), 9 U.S.C. §1 et seq., and to stay the proceedings before the district court. BACKGROUND On December 12, 2019, Plaintiff Kelly Campbell Cornelius filed on behalf of herself and a putative class of others similarly situated a class action complaint containing claims for violation of the New York General Business Law §349 and breach of contract. Dkt. No. 1 (“Complaint” or “Compl.”). Plaintiff is a citizen of South Carolina and owns and operates a small restaurant in Columbia, South Carolina named Tios Mexican Cantina. Id. 8. On two occasions, in April 2014 and again in October 2015, she signed lease agreements with a financing company named Northern Leasing Systems, Inc. (“Northern Leasing”) to lease credit card processing equipment. Id. at 17. On April 29, 2014, she leased an Ingenico iCT220 pin pad for $6,342 to be paid in 48 monthly installments of $129 plus a $150 restocking fee at the end of the lease; Plaintiff alleges that the pin pad was worth approximately $150. Id. 17(a). On October 29, 2015, she leased a Dejavoo Z8 wireless pin pad and a VeriFone P1000 power cord for $17,430 to be paid in 48 monthly installments of $360 plus a $150 restocking fee at the end of the lease; Plaintiff alleges the equipment was worth approximately $210 and $20, respectively. Id. 17(b). Plaintiff apparently defaulted on the leases. On April 3, 2019, Northern Leasing obtained a default judgment against Plaintiff in the Civil Court of New York City in the amount of $9,822.52. Dkt. No. 1-5. On or about May 20, 2019, Northern Leasing served an information subpoena and retraining notice on Defendant pursuant to N.Y. C.P.L.R. 5222(b).1 Compl. 26. The restraining notice forbade Defendant from transferring “any property in which [Plaintiff] has an interest, except upon direction of the sheriff or pursuant to an order of the court, until the judgment or order is satisfied or vacated” or one year from the restraining notice had passed. Dkt. No. 1-6. The notice was issued from the Civil Court of the City of New York, and it is alleged that service was made on Defendant in New York. Compl. 26. In response to the notice, Defendant restrained $19,483.00 in funds on deposit in Plaintiff’s South Carolina savings account with Defendant (the “Deposit Account”). Id. 27. Plaintiff alleges that Defendant had a financial interest in the enforcement of Northern Leasing’s leases because it agreed to accept assignment of Northern Leasing’s leases as a security for a loan to Northern Leasing and, pursuant to that loan, possessed held all lessor rights under these leases. Id.
