We have known for years now that Canadian chartered banks have been screwing their customers with obscene ATM fees.
Bank profits are at record levels. And how to banks respond to their record braking profits? They raise fees more.
Actually, they do other things.
They screw their employees out of fairly earned wages. And they have been doing this for years.
Here is the trick. I can it the Walmart maneuver
Load up the employees with more work than they could possibly complete in a 7 to 8 hour shift and then stiff them for the unauthorized overtime that they end up doing.
There is nothing that angers me more than giant companies and corporations that rip off their hard working and dedicated staff… and get away with it.
Now CIBC is in the cross-hairs.
Apparently they have garnered some media attention now because people are coming forward (and hiring legals) to report these and many other similar abuses.
The payout could be in the hundreds of millions of dollars (representing a lot of unpaid overtime)
Remember this friend: Banks are not your friends.
Banks think that they are doing you a great big favor to handle and exploit your money.
Think about this the next time you want to open a bank account. Think about trust companies and credit unions.