CIBC refunding 1.4 million credit card customers for years of improper fees
TORONTO — The Canadian Imperial Bank of Commerce is refunding 1.4 million customers for improperly charging credit card fees over 14 years.
The country’s fifth-largest bank says some credit card accounts in Canada may have been incorrectly charged a fee for exceeding the credit limit between 2003 and 2017.
Higher insurance premiums were also charged on optional creditor insurance. Refunds are being made with interest.