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Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s):  CM | T.CM.PR.P | T.CM.PR.Q | T.CM.PR.S

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has 13million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets businesses, the Company offers a full range of advice, solutions and services through its digital banking network and locations across Canada, with offices in the United States and around the world. Its personal banking offers products and services, including bank accounts, credit cards, mortgages, lending, investments, insurance, ways to bank and smart advice. Its business banking products and services include accounts, credit cards, borrowing, investing, cash management, smart business advice and healthcare. It also offers various business solution, including Managing Cash Flow, Financing Your Business and Day-to-Day Banking.


TSX:CM - Post by User

Comment by sorrensonon May 16, 2022 8:19am
272 Views
Post# 34685741

RE:You may want to short this company.

RE:You may want to short this company.In 1995 I was flying overseas for 3 months at a time. Somebody wrote me a check that bounced in my RBC account. Some POS employee listed it as a bad debt because I didn't cover the overdraft as I didn't know about it

upon my return to country the Royal Bank manager wrote me a letter clearly and unequivocally stating it was a bank error and at no time did I have dead against the bank. It was stripped out of Royal bank computers and the bank themselves had it cleared from the credit Bureau.

I still have the letter and every couple years the bad debt would keep showing back up on my credit Bureau. 

I had a 7 figure net worth credit cards with over $ 100,000 limits sitting at zero and had never had an unpaid bill since 1982 when I turned 18.

I have little or no doubt that somewhere buried in the records the bad listing still shows and the credit bureaus they never show the actual people. 

So don't feel bad it's not only CIBC who can screw up but you need to switch branches it's not the bank it's a ***** ** **** reps you deal with. If your Bureau is clean except for the RBC issue there should be zero problems as the Rep can get them to ignore one incident.



ragingbull1327 wrote: We have our mortgage with CIBC, purchased our house in 2010 for $185,000 with a mortgage of $174,000. The house just got appraised at $618,000. That's positive equity of..... $444,000. Have held the mortgage with CIBC the entire time, and NEVER MISSED A PAYMENT. Now, we ask for a Home Equity line of credit to PAY OFF DEBTS AND RENOVATE OUR HOUSE. They REFUSE TO ISSUE A LOAN BECAUSE OF......wait for it..... ONE $4000 RBC DEBT SITTING IN COLLECTIONS, because RBC effed up. Yup. Four. Thousand. Dollars. Now, I'm no actuarial sciences major, but this ain't good for the economy, or your bank. We are now just waiting for our current mortgage term to expire. I'm sure that your stock will absorb losing us. Your company's reputation will not.


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