This illegal activity committed by CIBC is on the commercial side. It just goes to show that even a Canadian bank that wants to get aggressive will push the laws.
For the purpose of this website, it leaves me to wonder how much the banks push the rules as far as the consumer goes. I think they do it all the time but don't have to answer because the average Canadian person doesn't have the financial or legal might to take on the mighty banks.
It's when the Canadian or U.S. authorities get involved, the banks have met their match. The banks have more legal and financial resources than they do. As well, the governments can publicize their offences without feeling like they're going to have major lawsuits against them. Even if the banks sued the government, they both have enough assets and resources to absorb these actions.
How can the average Canadian consumer get this type of legal control over the banks? I'm sure that if they could, more than one Canadian person would sue a bank or other powerful financial institution.
