{"settlement":{"id":"cibc-nsf-fees-2026","slug":"cibc-nsf-fees-2026","title":"CIBC and Simplii NSF Fees Class Action","category":"Banking and Financial Services","status":"Claims not yet open","tags":{"industry":["Banking and financial services"],"geographic":["Canada-wide"],"recoveryType":["Cash payment"],"documentation":["No documentation required"],"eligibilityTrigger":["Held an account or contract"]},"classDefinition":"Every person resident in Canada who is or was a personal deposit account holder with Canadian Imperial Bank of Commerce or Simplii prior to February 1, 2024 and whose personal deposit account was charged a non-sufficient funds fee by Canadian Imperial Bank of Commerce or Simplii on a re-presented pre-authorized debit transaction between September 21, 2020 and May 31, 2024.","plainLanguageSummary":"If you held a CIBC or Simplii personal deposit account opened before February 1, 2024 and were charged an NSF fee on a re-presented pre-authorized debit between September 21, 2020 and May 31, 2024, you may be eligible for a payment estimated at about $35 deposited directly to your account.","eligibilityCriteria":[],"recoveryRange":"About $35 per eligible person, paid automatically","filingInstructions":"You do not need to file a claim. If the court approves the settlement, eligible customers will receive a deposit directly into their CIBC or Simplii account. No forms, no registration.","caseBackground":"A class action in Ontario says CIBC and its Simplii Financial division improperly charged customers more than one non-sufficient funds (NSF) fee on a single payment. When a pre-authorized debit bounced and the business tried to collect it again, the bank allegedly charged a second $45 NSF fee for the same payment. The lawsuit says this violated the bank's contract with its customers. CIBC denies the allegations and has not admitted any wrongdoing.\n\nTo resolve the case, CIBC has agreed to a proposed settlement of $10 million. The Ontario Superior Court of Justice will decide whether to approve the settlement at a hearing on October 19, 2026. If it is approved, eligible customers will not need to file a claim: an estimated payment of about $35 will be deposited automatically into their CIBC or Simplii account. Legal fees and other court-approved expenses will be deducted from the total settlement before payments are made.","administratorName":"","administratorContacts":[],"administratorRole":"claims","agentName":"","agentContacts":[],"agentClaimFormHelp":false,"classCounselName":"Koskie Minsky LLP","classCounselContacts":[{"type":"phone","label":"","value":"1-866-778-7985"},{"type":"email","label":"","value":"cibcclassaction@kmlaw.ca"},{"type":"mail","label":"","value":"Koskie Minsky LLP, 20 Queen St W, Toronto, ON, M5H 3R3"},{"type":"online","label":"","value":"https://kmlaw.ca/cases/cibc-duplicative-nsf-fees-class-action/"}],"classCounselFirms":[{"name":"Koskie Minsky LLP","region":"","contacts":[{"type":"phone","label":"","value":"1-866-778-7985"},{"type":"email","label":"","value":"cibcclassaction@kmlaw.ca"},{"type":"mail","label":"","value":"Koskie Minsky LLP, 20 Queen St W, Toronto, ON, M5H 3R3"},{"type":"online","label":"","value":"https://kmlaw.ca/cases/cibc-duplicative-nsf-fees-class-action/"}]}],"submissionMethods":[],"sourceDocuments":[{"url":"/uploads/29862831e2d2b66678bf6af7-Long_Form_Notice_CIBC_June_26_2026.pdf","title":"Notice to Class Members"},{"url":"/uploads/f82a4bbe8b95e7f96ba11a71-Campbell_v_CIBC_Final_Settlement_Agreement_Fully_Executed_June_24_2026.pdf","title":"Proposed Settlement Agreement"},{"url":"/uploads/d86cdbb844f64762e9838305-Phase_1_Long_Form_Notice_June_26_-2026_FR.pdf","title":"Avis aux membres du groupe"}],"shortFormNoticeUrl":"/uploads/e55cd5dd8c8206fe7448e6a6-Short_Form_Notice_CIBC_June_26_-2026.pdf","longFormNoticeUrl":"/uploads/29862831e2d2b66678bf6af7-Long_Form_Notice_CIBC_June_26_2026.pdf","settlementAgreementUrl":"/uploads/f82a4bbe8b95e7f96ba11a71-Campbell_v_CIBC_Final_Settlement_Agreement_Fully_Executed_June_24_2026.pdf","claimFormDocumentUrl":"","claimForms":[],"claimFormsButtonLabel":"claim-form","claimFormsUnavailable":false,"claimFormsUnavailableReason":"","claimFormGuides":[],"additionalDocuments":[],"optOutFormUrl":"","optOutInstructions":"To opt out, class members had to send an Opt-Out Form (available on the Koskie Minsky LLP website) or a legible written request including their name, address, telephone number, and signature to Class Counsel by email, mail, or fax by August 31, 2026. That deadline has now passed, so the opt-out window is closed.","objectionFormUrl":"","objectionInstructions":"Class members could object to the proposed settlement by setting out their objection in writing using the Objection Form and sending it to Class Counsel (Koskie Minsky LLP) by mail or email by August 31, 2026. That deadline has now passed, so objections can no longer be submitted.","faqs":[{"answer":"CIBC has agreed to pay $10 million to settle the case. After court-approved legal fees, funding fees, disbursements, an honorarium, and expenses are deducted, the remaining fund will be shared equally among eligible class members. The payout is currently estimated at approximately $35 per person.","question":"How much money could I receive?"},{"answer":"No. If the settlement is approved, eligible class members will not need to submit a claim. The payment will be deposited automatically into their CIBC or Simplii personal deposit account.","question":"Do I need to file a claim?"},{"answer":"The court will decide whether to approve the settlement at a hearing on October 19, 2026. If it is approved, CIBC will begin depositing payments into eligible class members' accounts within about 30 business days after the approval becomes final.","question":"When will I get paid?"},{"answer":"No. The deadline to opt out of the settlement was August 31, 2026, and the deadline to object was also August 31, 2026. Both deadlines have passed.","question":"Can I still opt out of or object to the settlement?"},{"answer":"You remain in the class and will be bound by all court orders. If you are an eligible class member and the settlement is approved, you will automatically receive a deposit to your CIBC or Simplii account.","question":"What happens if I do nothing?"}],"eligibilityChecker":{"questions":[{"id":"canada-resident","text":"Are you a resident of Canada?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"cibc-simplii-account","text":"Did you hold a CIBC or Simplii personal deposit account that was opened before February 1, 2024?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"charged-nsf-fee","text":"Was your account charged a non-sufficient funds (NSF) fee on a re-presented pre-authorized debit transaction between September 21, 2020 and May 31, 2024?","type":"yes_no","helpText":"A re-presented pre-authorized debit is a payment that was submitted again after first being returned because of insufficient funds.","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"second-nsf-fee","text":"Between September 21, 2020 and May 31, 2024, were you charged a second $45 NSF fee within 2 to 30 days of a previous $45 NSF fee for a pre-authorized debit from the same merchant and in the same amount?","type":"yes_no","helpText":"For CIBC customers the second fee must have been charged by February 1, 2024, and for Simplii customers by December 18, 2022.","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"account-open","text":"Is your CIBC or Simplii account still open and able to accept deposits?","type":"yes_no","helpText":"Payments will be deposited directly into your account, so it must be open on the distribution date.","qualifyingAnswer":"yes","criticalForEligibility":true}],"uncertainMessage":"Some of your answers were Not sure, so we could not confidently determine your eligibility.","qualifyingMessage":"Based on your answers, you appear to fall within the class definition for this settlement.","nonQualifyingMessage":"Based on your answers, you do not appear to fall within the class definition for this settlement."},"claimCategories":[],"proceedings":null,"relatedSlugs":[],"group":null,"cardSummary":"If you were a CIBC or Simplii customer charged more than one NSF fee on the same pre-authorized payment between September 2020 and May 2024, you may receive an automatic deposit of about $35 if the settlement is approved.","proofRequired":"","claimTime":"","claimAmount":"","coverageStartDate":"2020-09-21","coverageEndDate":"2024-05-31","deadline":"","optOutDeadline":"2026-08-31","objectionDeadline":"2026-08-31","approvalHearingDate":"2026-10-19","approvalHearingDates":[{"date":"2026-10-19","label":""}],"approvalPending":false,"resolution":"settlement","judgmentAppealed":false,"seriousHarmEnabled":false,"quietPresentation":false,"formHelperEnabled":false,"dateAdded":"2026-09-02","lastUpdated":"2026-09-02","firstPublishedAt":"2026-09-03 02:44:17","claimsOpenedAt":null,"lastVerifiedAt":"2026-09-02","languages":["en","fr"]}}