Investment Executive·2026-03-03 18:40Core Viewpoint - The bank is involved in a lawsuit regarding the improper charging of duplicate insufficient funds fees on pre-authorized debit transactions, with a proposed settlement requiring court approval [1]. Group 1: Settlement Details - The bank denies the allegations and does not admit liability as part of the settlement [1]. - If approved, customers charged duplicate NSF fees between June 21, 2020, and April 30, 2024, will receive approximately $40 each from the settlement [2]. - The settlement is expected to result in direct deposits into the accounts of eligible customers [2]. Group 2: Related Cases - Previous settlements have been reached with TD Bank and Royal Bank of Canada for similar cases in 2024 and 2025 [2]. - Koskie Minsky has ongoing cases against Bank of Montreal and CIBC, which have not yet been proven or certified as class actions [3].