CIBC agrees to settle NSF fee class-action case, will pay $10 million

CIBC agrees to settle NSF fee class-action case, will pay $10 million

TORONTO - Canadian Imperial Bank of Commerce has agreed to pay $10 million in a proposed settlement of a class-action lawsuit regarding non-sufficient funds fees.

$10 million proposed settlement reached in CIBC class action lawsuit

The Canadian Imperial Bank of Commerce has agreed to a proposed $10 million settlement in a class action lawsuit over non-sufficient funds fees.

CIBC agrees to settle NSF fee class-action case, will pay $10M

Canadian Imperial Bank of Commerce has agreed to pay $10 million in a proposed settlement of a class-action lawsuit regarding non-sufficient funds fees. The case took issue with CIBC’s practice of charging NSF fees on re-presented pre-authorized debit transactions between Sept. 21, 2020 and May 31, 2024. CIBC does not admit any liability in the proposed settlement reached on June 24 that came together with the help of a mediator. A court hearing…