Bank of Montreal Faces C$4 Million Fine for Erroneous Customer Charges
ByAinvest
Tuesday, Feb 3, 2026 10:00 am ET1min read
BMO--
Canada's Financial Consumer Agency levied a C$4 million ($2.9 million) fine against Bank of Montreal for erroneously overcharging customers on monthly-plan fees between 2010 and 2024. BMO reimbursed customers upon learning of the issue and reported it to the agency. The fine was formally levied in April 2022, reflecting supervisory and administrative work by regulators.
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