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In June 2007, Dara Fresco, a Toronto teller, along with current and former non-management, non-unionized employees, who are or were tellers and other front-line customer service employees, working within Canadian Imperial Bank of Commerce's (CIBC) various retail branch offices across Canada; brought on a $600 million class-action lawsuit ...
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In 2021, the banking reviews site MyBankTracker listed the most common complaints in its reviews: excessive fees, poor customer service, bounced checks, overdraft fees, loan issues, major errors ...
Canada's banks have high service levels and investments in technology. A report released by the office of the Minister of Finance in 2002 states "Canada has the highest number of ATMs per capita in the world and benefits from the highest penetration levels of electronic channels such as debit cards, Internet banking and telephone banking". [4]
CIBC Bank USA is an American commercial bank headquartered in Chicago, Illinois.Founded in 1989 as The PrivateBank and Trust Company (doing business as The PrivateBank), a subsidiary of PrivateBancorp Inc., the company became a subsidiary of the Toronto-based Canadian Imperial Bank of Commerce (CIBC) after a US$5 billion acquisition in June 2017. [2]
Simplii Financial was established following CIBC and the supermarket chain Loblaw Companies mutually deciding to end their 20-year joint venture of providing consumer banking services under the President's Choice Financial brand. [4] [5] As a completely online banking service, Simplii Financial has no branch locations.
According to a ranking produced by Standard & Poor's, in 2017, the Big Five banks of Canada are among the world's 100 largest banks, with TD Bank, RBC, Scotiabank, BMO, and CIBC at 26th, 28th, 45th, 52nd, and 63rd place, respectively. [4] RBC and TD Bank are also on the Financial Stability Board's list of systemically important banks as of 2020 ...
CIBC purchased a 60 percent stake in Wood Gundy in June 1988 for C$110 million (US$86 million), representing a total value of the firm of C$183 (US$143 million). [6] At the time of its acquisition, Wood Gundy was the leading Canadian investment dealer.