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Canadian bank to pay $153 million to settle unpaid overtime suit

Posted On: Jan. 9, 2023 9:38 AM CST

Financial penalty

Canadian Imperial Bank of Commerce will pay $153 million to around 30,000 current and former front-line retail staff members to settle a class-action lawsuit related to unpaid overtime, Financial Post reported. According to the suit, which was filed in 2007, the bank had failed to pay its retail employees for their overtime work since 1993.