How much will each person get from the CIBC settlement?

Payments are a pro rata share of the $10 million CAD fund after court-approved fees, taxes, disbursements and the representative plaintiff's honorarium. The court's approval reasons estimate about $35 CAD per class member, based on a class of approximately 175,000 people. That is an estimate, not a guaranteed amount.

Is the CIBC NSF fee settlement approved?

Yes. Justice Leiper of the Ontario Superior Court of Justice heard the approval motion on October 19, 2026 and approved the settlement, class counsel's fees and the distribution protocol in reasons dated October 26, 2026 (Campbell v. Canadian Imperial Bank of Commerce, 2026 ONSC 5964). CIBC consented to the settlement without admitting liability. No payment date had been announced as of October 28, 2026.

Can U.S. residents claim from the CIBC settlement?

This is a Canadian settlement covering CIBC and Simplii Financial personal deposit accounts. It is not a U.S. claims program — only eligible Canadian account holders receive payments.

CIBC $10M NSF Fee Settlement Approved: Automatic Payments (Canada)

Q: Do I need to file a claim for the CIBC NSF fee settlement?

No. There is no claim form. The Ontario Superior Court of Justice approved the settlement on October 26, 2026, and under the court-approved distribution protocol CIBC credits each qualifying class member's pro rata share directly to their CIBC or Simplii Financial account. No payment date had been announced as of October 28, 2026.

Q: Who is eligible for the CIBC NSF fee settlement?

Based on class counsel's description, eligible members are CIBC and Simplii Financial personal deposit account customers who may have been charged a non-sufficient funds fee on a pre-authorized debit from the same merchant and in the same amount as a previous transaction within 2 to 30 days — between September 21, 2020 and February 1, 2024 for CIBC customers, or September 21, 2020 and December 18, 2022 for Simplii customers.

Published July 8, 2026

Updated October 28, 2026

CIBC and Simplii customers hit with repeat NSF fees on retried payments are to be paid automatically from the $10 million CAD settlement the Ontario court approved on October 26, 2026. There is no claim form, and no payment date has been announced.

The Ontario Superior Court of Justice approved the $10 million CAD settlement over multiple NSF fees charged on re-presented payments in reasons dated October 26, 2026.

By Steve Levine

Editor-in-Chief

Current Status

Final approval granted — payments pending. Justice Leiper of the Ontario Superior Court of Justice heard the approval motion on October 19, 2026 and approved the $10 million CAD settlement, class counsel's fees and the distribution protocol in reasons dated October 26, 2026. There is no claim form: CIBC credits each qualifying class member's share directly to their CIBC or Simplii account. No payment date had been announced as of October 28, 2026.

What Changed

The settlement was proposed in July and has now been approved. In Campbell v. Canadian Imperial Bank of Commerce, 2026 ONSC 5964, the court found the settlement fair, reasonable and in the best interests of the class, noted that no class member objected, and approved class counsel's 28% fee of $2,764,214.92 (before taxes) and a $5,000 honorarium for the representative plaintiff. CIBC consented to the settlement and does not admit any liability.

The lawsuit alleged that when a pre-authorized debit bounced and the payee re-presented (retried) the same payment, CIBC charged a second NSF fee for what was really one transaction, in breach of its contract with customers. The case was filed September 22, 2022, certified on consent as a class proceeding, and settled on June 24, 2026, with Koskie Minsky LLP as class counsel. It is the fourth duplicative-NSF-fee settlement against one of Canada's largest banks, after earlier court-approved settlements with TD, RBC and Scotiabank. Similar re-presented-payment NSF cases have settled at U.S. banks, including the Country Bank NSF fee settlement and the Equity Bank overdraft & NSF fee settlement.

Status Final Approval Granted Approved October 26, 2026 · Ontario Superior Court of Justice · payments pending

Settlement Fund $10,000,000 CAD CIBC denies liability — settlement resolves the claims without any admission

Estimated Payout About $35 CAD Court's estimate for ~175,000 class members — pro rata, after approved fees and costs

Proof Required Automatic Payment No claim form — direct deposit to eligible CIBC & Simplii accounts

Who Qualifies?

The certified class is every person resident in Canada who is or was a CIBC personal deposit account holder before February 1, 2024 and whose personal deposit account was charged an NSF fee on a re-presented pre-authorized debit between September 21, 2020 and May 31, 2024. Class counsel describes the customers who receive money as current CIBC and Simplii Financial customers whose records show they may have been charged an NSF fee on a pre-authorized debit from the same merchant and in the same amount as a previous transaction within 2 to 30 days — the fingerprint of a re-presented payment — between September 21, 2020 and February 1, 2024 for CIBC customers, or September 21, 2020 and December 18, 2022 for Simplii Financial customers.

Because payments are credited directly to class members' accounts, eligibility is determined from CIBC's own records — customers do not need to prove anything or track down old statements. CIBC is responsible for sending direct notice of the approval order to the class by secure message or letter. Class counsel said more information, including who is eligible for compensation, would be provided in the coming weeks; the public materials do not yet explain how former customers who have closed their accounts are handled.

Note for U.S. readers: this is a Canadian settlement covering Canadian personal deposit accounts. It is not a U.S. claims program. For comparable U.S. cases, see the bank-fee settlements linked above.

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How Much Can You Get?

The court's approval reasons estimate compensation of approximately $35.00 CAD per class member, based on a class of approximately 175,000 people. That is an estimate. Each qualifying member receives a pro rata share of the all-inclusive $10 million CAD fund after the approved class counsel fees, taxes, disbursements, funder's fees and honorarium, so the actual amount depends on how many customers qualify. CIBC bears the cost of notice and distribution, and any residual funds left after payments are to be donated to the Daily Bread Food Bank.

What Happens Next?

Under the approved distribution protocol, CIBC credits payments directly to qualifying class members' CIBC or Simplii accounts — automatically, with no claim form, no sign-up and no ID code to enter. No payment date had been announced as of October 28, 2026. Class counsel said further details would follow in the coming weeks, and this page will be updated when a payment date is announced.

Because there is no claim form, there is nothing to file and no claim deadline. Be cautious of any website or message that asks you to "register" or pay a fee to receive your CIBC settlement payment — that is not how this settlement works, and unsolicited requests like that are a common settlement scam pattern.

A separate approved settlement against the same bank does have a live claim deadline: the CIBC and Renaissance mutual funds trailing commissions settlement pays $32 CAD to former CIBC fund holders who file by November 18, 2026. It is an unrelated case about mutual fund fees rather than NSF charges, so being in one class says nothing about whether you are in the other.

Frequently Asked Questions

Do I need to file a claim?

No. Under the court-approved distribution protocol, CIBC credits each qualifying member's share directly to their CIBC or Simplii account.

Who is eligible?

CIBC and Simplii personal deposit customers charged an NSF fee on a re-presented pre-authorized debit (same merchant, same amount, within 2–30 days of a prior attempt) — from September 21, 2020 to February 1, 2024 (CIBC) or December 18, 2022 (Simplii).

How much will I get?

The court's reasons estimate about $35 CAD per class member, paid pro rata from the $10M CAD fund after court-approved deductions.

Has the settlement been approved?

Yes. The court approved it in reasons dated October 26, 2026, after an October 19, 2026 hearing. No payment date had been announced as of October 28, 2026.

Sources

• Koskie Minsky LLP — CIBC Duplicative NSF Fees Class Action (official case page)
• Reasons for Decision — Campbell v. Canadian Imperial Bank of Commerce, 2026 ONSC 5964 (October 26, 2026)
• Newswire — Sarah Louise Campbell v. Canadian Imperial Bank of Commerce (joint settlement announcement)
• Global News — CIBC reaches $10M NSF fee class action settlement
• BNN Bloomberg — $10 million proposed settlement reached in CIBC class action lawsuit
• Statement of Claim — Campbell v. CIBC (September 22, 2022)

For more class actions keep scrolling below.

Settlement Amount $10,000,000 CAD

Case Title Campbell v. Canadian Imperial Bank of Commerce

Case Number CV-22-00687612-00CP

Court Ontario Superior Court of Justice (Toronto)

Settlement Approval Hearing October 19, 2026 (held)

Settlement Approved October 26, 2026 — 2026 ONSC 5964 (Leiper J.)

Official Website Koskie Minsky — CIBC NSF Fees Class Action