Business
Canaan Alexander v. The Bank of Nova Scotia
Koskie Minsky LLP and The Bank of Nova Scotia ("BNS") jointly announce a proposed settlement of the ongoing class action regarding non-sufficient funds fees ("NSF fees").
About this update from Bank Of Nova Scotia
[{"type":"text","content":"TORONTO, March 3, 2026 /CNW/ - Koskie Minsky LLP and The Bank of Nova Scotia ("BNS") jointly announce a proposed settlement of the ongoing class action regarding non-sufficient funds fees ("NSF fees").","length":221,"tagName":"p"},{"type":"text","content":"The class action took issue with BNS's practice of charging NSF fees on re-presented pre-authorized debit transactions ("PADs") between June 21, 2020 and April 30, 2024. After lengthy negotiations and the assistance of a mediator, a proposed settlement agreement was reached on January 21, 2026.","length":309,"tagName":"p"},{"type":"text","content":"A hearing will be held on June 12, 2026, where the Court will decide whether to approve the proposed settlement. Under the terms of the settlement, BNS will pay a total of $10.45 million. BNS has not admitted liability and denies liability. If the settlement is approved, BNS will directly deposit funds into the bank accounts of eligible class members.","length":353,"tagName":"p"},{"type":"text","content":"The class action was certified by the Ontario Superior Court of Justice on April 8, 2024. Koskie Minsky LLP has been appointed as Class Counsel.","length":144,"tagName":"p"},{"type":"text","content":"For more information, contact Elie Waitzer at [email protected] or visit https://kmlaw.ca/cases/scotiabank-duplicative-nsf-fees-class-action/","length":146,"tagName":"p"},{"type":"image","alt":"Cision","displaySize":"","headline":null,"caption":"Cision","className":"","disableSlideshowImg":false,"size":{"original":{"width":16,"height":16,"url":"https://media.zenfs.com/en/cnwgroup.com/01b911a6b77219b708a1ab3982d02a12"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kCYUWjQ3ZiOjDGwOqbS8LA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2O2g9MzY7Y2Y9d2VicA--/https://media.zenfs.com/en/cnwgroup.com/01b911a6b77219b708a1ab3982d02a12","width":16,"height":16}}},{"type":"text","content":"View original content: http://www.newswire.ca/en/releases/archive/March2026/03/c5042.html","length":89,"tagName":"p"}]