Notices to Members

Notice to members – Bank AMEX of Canada

2019/06/05
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 against AMEX and several other financial institutions. The class actions cover the following practices related to AMEX credit cards: 1. The absence of a complete 21-day grace period;2. […]

Notice to members – CIBC Bank

2019/06/05
Option consommateurs and Canadian Imperial Bank of Commerce (“CIBC”) have reached an agreement in two class actions brought on 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: 1. The charging of […]

Class Action Against CI, AIC and CIBC Asset Management: a settlement was reached between claimant and CIBC Asset Management Inc.

2019/05/07
Mr. Claude Ravary reached an agreement with Gestion d’actifs CIBC Inc. (hereinafter GACI) settling the class action against GACI. The Court approved the proposed agreement on April 16, 2019. Without admission of liability, CIBC agreed to contribute 625 000,00 $ for the benefit of the members as defined in the agreement (the “settlement amount”) as […]

Claude Ravary v. CI and AIC – Supreme Court dismisses application for leave to appeal

2019/05/07
On April 11, 2019, the Supreme Court of Canada dismissed CI’s and AIC’s application for leave to appeal from the judgment of the Court of Appeal of Quebec dated April 16, 2018. CI and AIC are now required to provide the data requested by Mr. Ravary. This is the complete transactional data of the approximately […]

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