Our Role and Mandate:
The office of the CIBC Ombudsman works closely with both clients and CIBC's business leaders to address client concerns.
Our mandate is to review unresolved complaints involving CIBC and its group of companies (collectively CIBC). We try to resolve disputes fairly through an independent and thorough investigation. Recommendations are non-binding and parties are free to pursue other avenues if a settlement is not reached.
The cases brought to our office allow us to identify areas, products and services where changes might be made to enhance the service to our clients. To this end, the CIBC Ombudsman communicates regularly with CIBC's senior business leaders to highlight opportunities for improvement.
How we can help:
If you have an unresolved issue with CIBC, we may be able to help if the following criteria have been met:
- You have followed CIBC's Complaint Process and CIBC has completed its review and provided you with a final response
- The matter has not been referred to a law firm or litigation has not been initiated by you or CIBC
- The issue falls within our mandate
Issues outside of our mandate:
Some banking issues fall outside of the Office's mandate. These include:
- Product pricing and the setting of interest rates (including lending, investment and foreign exchange rates)
- The setting of service fees (including NSF fees and mortgage prepayment costs)
- Lending decisions and credit adjudication*
- CIBC divestiture decisions and trespass orders*
- Matters that CIBC has referred to outside legal counsel or that are in litigation. If a client decides to pursue legal action during the course of our investigation, we may cease our investigation
- Credit bureau ratings - except where CIBC has made an administration error causing an incorrect credit bureau rating
- Day-to-day business decisions - i.e. introducing, withdrawing or amending a product or service, or other matters relating to general CIBC policy
- Access to CIBC records are subject to record retention periods, which typically do not exceed 7 years
- We do not offer legal or regulatory opinions or advice
* In these cases, the Office will only investigate whether CIBC has followed proper process and whether the client has been given sufficient notice of the bank's decision.
CIBC's Ombudsman is Norah C. McCarthy. Ms. McCarthy was appointed to the role of CIBC Ombudsman and Chief Privacy Officer in March 2015. Ms. McCarthy brings over 25 years of experience in financial services, focused on wealth management and retail banking, to the Office of the Ombudsman.