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Cash advance fee

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:

  • Canadian Tire Bank
  • Amex Bank of Canada
  • Canadian Imperial Bank of Commerce
  • President's Choice Bank
  • Citibank Canada
  • Laurentian Bank of Canada
  • MBNA Canada
  • Bank of Montreal
  • National Bank of Canada
  • Bank of Nova Scotia
  • Royal Bank of Canada
  • Toronto-Dominion Bank

  • Fédération des Caisses Desjardins du Québec

  • Class action settled. Read the notice to members

These institutions are contravening the Consumer Protection Act by imposing not only credit fees, but also cash advance fees on consumers making this transaction. The class action seeks the abolition of credit fees and the reimbursement of cash advance fees paid by consumers.

 

On October 27, 2010, Mr. Justice Gascon ordered the closure of the groups involved in these actions.

 

Our members

This recourse applies to you if you have paid cash advance fees for transactions in Canada or abroad:

  • With your Canadian Tire Bank card between October 1, 2001 and September 30, 2010. (Claim no. 500-06-000249-041)
  • With your card, Bank of Montreal, Royal Bank of Canada, Toronto-Dominion Bank, Fédérations des Caisses Desjardins du QuébecCanadian Imperial Bank of Commerce, Bank of Nova Scotia, National Bank of Canada, Laurentian Bank of Canada, Amex Bank of Canada, Citibank Canada, MBNA Canada or President's Choice Bank, between October 4, 2001 and September 30, 2010. (Action no. 500-06-000373-064)

 

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 account statements showing that you have experienced this problem.

  • Class action against the Fédération des Caisses Desjardins du Québec
  • On September 16, 2011, the Honourable Justice Gascon approved the settlement in this action.
  • If you are a VISA Desjardins cardholder, this regulation may affect your rights whether or not you take action.
  • Please read this notice carefully