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

A CIBC logo is displayed the lobby of its headquarters in Toronto on Monday, Oct. 25, 2021. THE CANADIAN PRESS/Evan Buhler

 SDV

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.

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. 

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