Credit Cards (Increasing the Limit and Charging for Exceeding the Limit)

Class action description

Cancellation and restitution of credit charges, cancellation and restitution of over the limit charges and punitive damages (INCREASING THE LIMIT AND CHARGING FOR EXCEEDING THE LIMIT).

Group description

Any consumer holder of a credit card from the Royal Bank of Canada, National Bank of Canada, Canadian Imperial Bank of Commerce, Citibank of Canada or MBNA Canada, who since January 12th, 2001, without expressly having asked for it, have been granted an increase of the amount of the credit extended to them, and who have since then used their increased variable credit ; and
Any consumer holder of a credit card from the Bank of Montreal, the Royal Bank of Canada, the Canadian Imperial Bank of Commerce, MBNA of Canada, Amex Bank of Canada or Scotia Bank and who have paid, since January 12th, 2001, for over-the-limit fees.

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Chronology

– December 7th 2006: Filing of the motion to institute the class action

– October 25th 2007: Judgment granting the motion to institute the class action

– July 31th 2007: Filing of the motion to institute proceedings

– February 1st 2008: Filing of the amended motion to institute proceedings with particulars

– February 12, 15, 16 and 17th 2010: Filing of the Defences

– April 9th 2010: Filing of an Amended Defence of Amex Bank of Canada

Notices and News

Notice to Members - Canadian Imperial Bank of Commerce

2017/02/14
Option consommateurs and Canadian Imperial Bank of Commerce (“CIBC”) have reached an agreement in two class actions and one motion for leave to bring a class action against CIBC and several other financial institutions. The class actions allege that CIBC engaged in the following practices related to CIBC credit cards.

Notice to Members - Amex Bank of Canada

2017/02/14
Option consommateurs and Amex Bank of Canada (“AMEX”) have reached an agreement in three class actions and one motion for leave to bring a class action filed in Quebec against AMEX and several other financial institutions.

Notice to Members - President's Choice Bank and Bank of Nova Scotia

2017/02/14
A settlement has been concluded, subject to the approval of the Court, between Option consommateurs, the Bank of Nova Scotia and President’s Choice Bank (‎collectively the “Banks”) in the context of a class action launched by Option consommateurs against the Banks regarding the calculation of fees applied to certain transactions involving a credit card, namely the over-the-limit fees and the cash advance fees. A hearing will take place at the Court house of Montreal on October 26th 2016 at 9:30 a.m. in room 2.08 to obtain the approval of the Settlement Agreement in the class action. Please read the documents below.
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