CIBC has agreed to a proposed $10-million settlement in a class-action lawsuit concerning allegations of charging customers multiple non-sufficient funds (NSF) fees for a single attempted transaction. The lawsuit, certified by the Ontario Superior Court of Justice on June 3, 2024, claims that CIBC unlawfully charged additional NSF fees when a customer's initial payment or cheque attempt failed due to insufficient funds, despite the customer agreement stipulating one fee per "item." Eligible Canadians, who had a personal deposit account with CIBC and were charged duplicative NSF fees on a single payment or cheque since January 1, 2012, could receive funds directly deposited into their accounts if the settlement is approved at a hearing on October 19, 2026. CIBC denies liability in the matter, which disproportionately impacts low-income Canadians.