Published
July 8, 2026
CIBC and Simplii customers hit with repeat NSF fees on retried payments would be paid automatically — no claim form — if the court approves the deal in October.
What Is This Settlement About?
Canadian Imperial Bank of Commerce (CIBC) has agreed to a proposed CAD $10 million class action settlement resolving claims that it charged customers more than one non-sufficient funds (NSF) fee on a single payment. The lawsuit, Campbell v. Canadian Imperial Bank of Commerce, alleged that when a pre-authorized debit or cheque bounced and the merchant re-presented (retried) the same payment days later, CIBC charged a second NSF fee for what was really one transaction. CIBC denies liability and admits no wrongdoing; the settlement was reached on June 24, 2026 after mediator-assisted negotiations and announced on July 2, 2026.The case was certified as a class proceeding by the Ontario Superior Court of Justice on June 3, 2024, with Koskie Minsky LLP as class counsel. The settlement still requires court approval — the approval hearing is scheduled for October 19, 2026 — and no money will flow unless the court signs off. The same duplicative-NSF-fee theory has produced a family of parallel Canadian class actions against other major banks, and 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
Pending Court Approval
Approval hearing October 19, 2026 · Ontario Superior Court of Justice
Settlement Fund
CAD $10,000,000
CIBC denies liability — settlement resolves the claims without any admission
Estimated Payout
Pro-rata share
No per-person estimate published — depends on class size & court-approved deductions
Proof Required
Automatic Payment
No claim form — direct deposit to eligible CIBC & Simplii accounts if approved
Who Qualifies?
Based on class counsel's description of the settlement, payments would go to current CIBC and Simplii Financial personal deposit account customers who 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. The eligibility windows run from September 21, 2020 to February 1, 2024 for CIBC customers, and from September 21, 2020 to December 18, 2022 for Simplii Financial customers. (The litigation as announced covers re-presented payment NSF fees charged between September 21, 2020 and May 31, 2024.)Because payments would be deposited directly into class members' existing accounts, eligibility is determined from CIBC's own records — customers do not need to prove anything or track down old statements. Class counsel has indicated eligible members will receive a notice from CIBC. One open question the public materials do not yet address is how former customers who have since closed their accounts would be handled; we will update this page when the court-approved notice spells that out.
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?
No individual payment estimate has been published, and none is possible yet: each eligible member would receive a pro-rata share of the CAD $10 million fund after court-approved deductions such as legal fees and administration costs. The final amount depends on how many customers qualify. Any figures you see promising a specific dollar amount per person are guesses — treat them accordingly.What Happens Next?
The Ontario Superior Court of Justice will decide whether to approve the settlement at a hearing on October 19, 2026. If approved, CIBC would deposit payments directly into eligible class members' CIBC or Simplii accounts — automatically, with no claim form, no sign-up, and no ID code to enter. If the court does not approve the settlement, the litigation would continue.Because there is no claim form, there is also nothing to file and no deadline for class members to act right now. 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 C$32 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. If the settlement is approved on October 19, 2026, CIBC would deposit each eligible member's share directly into their CIBC or Simplii account automatically.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?
A pro-rata share of the CAD $10M fund after court-approved deductions. No per-person estimate has been published.Is the settlement final?
Not yet — it requires approval at the October 19, 2026 hearing. No payments will be made unless the court approves it.Sources
• Koskie Minsky LLP — CIBC Duplicative NSF Fees Class Action (official case page)• 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
CAD $10,000,000
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
Official Website
Koskie Minsky — CIBC NSF Fees Class Action
