The new CIBC logo displayed in the lobby of its headquarters in Toronto on Monday, Oct. 25, 2021. Ontario's Appeal Court has dismissed efforts by the Canadian Imperial Bank of Commerce to overturn a ruling in an overtime class-action lawsuit filed more than a decade ago.THE CANADIAN PRESS/Evan Buhler
Republished February 09, 2022 - 3:35 PM
Original Publication Date February 09, 2022 - 3:01 PM
TORONTO - The Ontario Court of Appeal has dismissed efforts by the Canadian Imperial Bank of Commerce to overturn a ruling in an overtime class-action lawsuit filed more than a decade ago.
The court affirmed a 2020 lower court ruling that the bank's overtime policies contravened the Canada Labour Code and other aspects of the bank's overtime practices.
Dara Fresco, a former CIBC teller and class counsel, brought this case in 2007.
The bank vigorously opposed the claims, first by arguing that the case should not proceed as a class action and then by arguing that the case should be dismissed on its merits.
However, Ontario Superior Court Justice Edward Belobaba decided in favour of the class action of about 31,000 retail bank employees.
CIBC spokesman Tom Wallis said the bank was reviewing the decision and assessing next steps.
"We believe we maintain effective overtime policies and practices in place, including a clear overtime policy that is easily accessible," he wrote in an email.
A hearing is scheduled on Sept. 28 to determine damages for unpaid hours.
"CIBC has made enormous profits off the labour of hard-working retail bank employees," stated Fresco in a news release.
"Fifteen years is a very long time to wait to be paid what we are owed. My hope is that the bank's executives take the Court's decision to heart and pay what it owes without further delay."
This report by The Canadian Press was first published Feb. 9, 2022.
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