The deadline is approaching for Canadians to benefit from a massive settlement in a lawsuit against CIBC Bank. CIBC settled a historic class-action lawsuit last year, filed by employees about a decade and a half ago.

In 2007, retail branch employees in Toronto claimed they were forced to work overtime without pay. Legal proceedings have continued since then, with the latest update in July 2023, when an Ontario court approved the settlement, which amounted to $153 million.

Dara Fresno, a former CIBC teller who brought the case in 2007, expressed happiness with the announced results.

He said, "I consider this settlement a fair and middle-ground solution that will help provide meaningful compensation to thousands of my frontline colleagues."

The plaintiffs indicated that automatic enrollment in the class action will apply if you were a full-time or part-time assistant branch manager at CIBC, an ambassador, or any other frontline customer service employee working in the bank's branches across Canada from February 1, 1993, to June 18, 2009.

It is noteworthy that CIBC is expected to pay nearly 30,000 former and current retail frontline workers to address unpaid overtime, legal fees, and distribution costs. The final deadline to benefit from this settlement is set for March 25 of this month, 2024.