CIBC to compensate customers for disclosing data

Joe Schneider reports:

Canadian Imperial Bank of Commerce, the country’s fifth-biggest bank, agreed to compensate customers whose personal information was sent by mistake to businesses in the U.S. and Quebec.

The agreement, approved by a judge in Toronto, settles a class-action, or group, lawsuit filed by the customers over the disclosure of their names, social insurance numbers, account numbers and balances, addresses and signatures.

CIBC inadvertently sent the data by fax from 2001 to 2004 to Allstar Sports Line Ltd., a Maryland designer and manufacturer of auto accessories endorsed by Nascar, according to court documents. CIBC also sent faxes with customer information to a business in Quebec in 2004.

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