TORONTO, July 14, 2026 /CNW/ - On June 12, 2026, the Ontario Superior Court of Justice approved a $10,450,000 settlement of a class action lawsuit on behalf of customers of The Bank of Nova Scotia ("BNS") who were charged certain non-sufficient funds fees ("NSF fees").

The class action took issue with BNS's practice of charging NSF fees on re-presented pre-authorized debit transactions between June 21, 2020 and April 30, 2024.

BNS has not admitted liability and denies liability. Under the terms of the settlement, BNS will deposit approximately $42.82 directly into the bank accounts of approximately 148,000 eligible BNS customers.

SOURCE Koskie Minsky LLP