Aug 03, 2018
By Michael Kramer
C-I-B-C is giving refunds to 1.4 million customers – who were charged incorrect credit card fees between 2003 and last year.
The country’s fifth-biggest bank says some customers may have been incorrectly charged a fee for exceeding their credit limit – while others were charged higher insurance premiums on optional creditor insurance.
C-I-B-C is notifying affected current and former clients directly about the refunds – which are being made with interest and will average about $50 dollars.
The bank wouldn’t say how the errors were discovered, but says the issues have been corrected.