Limit increases and overrun charges
In 2004 and 2006, we filed a class action against certain financial institutions that issue credit cards.
In November 2006 and October 2007, Superior Court Justice Clément Gascon authorized these class actions against the following financial institutions:
|
Increase limit |
Overrun costsment |
|
| Amex Canada |
X |
|
| Canadian Imperial Bank of Commerce |
X |
X |
| Citibank Canada |
X |
X |
| Royal Bank of Canada |
X |
X |
| MBNA Canada |
X |
X |
| Bank of Montreal |
X |
X |
| National Bank of Canada |
X |
|
| Nova Scotia Bank |
X |
These financial institutions violate the Consumer Protection Act by unilaterally increasing their customers' credit limits, allowing them to make purchases in excess of the credit limit originally granted, and sometimes charging "overlimit fees". The class action seeks reimbursement of illegally obtained fees and exemplary damages.
On October 27, 2010, Mr. Justice Gascon ordered the closure of the groups involved in this action.
Our members
A - This recourse applies to you if you have been granted a credit limit increase without expressly requesting it and have used the increased credit:
- with your Bank of Montreal card between January 9, 2001 and December 31, 2009. (Claim no. 500-06-000221-040)
- with your Royal Bank of Canada, Canadian Imperial Bank of Commerce, National Bank of Canada, Citibank Canada or MBNA Canada card between January 12, 2001 and December 31, 2009. (Claim no. 500-06-00372-066)
B - This recourse applies to you if you have paid charges because you have exceeded your credit limit:
- with your Citibank Canada card between January 9, 2001 and September 30, 2010. (Recourse No. 500-06-000221-040)
- with your Bank of Montreal, Royal Bank of Canada, Canadian Imperial Bank of Commerce, Bank of Nova Scotia, Amex Bank of Canada, Citibank Canada or MBNA Canada card between January 12, 2001 and September 30, 2010. (Action no. 500-06-00372-066)
Where we are
The Superior Court has authorized us to sue certain financial institutions. This could take several years. We recommend that you follow developments in this case by consulting the newspapers and our website.
We suggest that you keep all documents, such as letters and account statements, showing that you have experienced one of the problems covered by this class action.