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CIBC admits some calls illegally recorded

Globe and Mail Update

Telemarketers that place cold calls are required to ask for permission before recording the conversations ...Read the full article

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  1. Love my Country Expect More From My GOVERNMENT from TO, Canada writes: As a stock holder I say all the people at the top of CIBC should have security escort them to the door, sorry limousines.
    The new head was brought in to clean things up and now it's worse. The only thing these guys understand is Executive Compensation.
    Thanks for the tax loss I guess.
  2. Ned Chiwalski from Oilberta, Canada writes: When you go into a CIBC branch and deal with one of their 'advisors' , just glorified personal bankers, they have you sign off on a disclosure that states that client confidentially is of the utmost importance and is taken vary seriously by the bank. I guess they forgot to mention the possibility of taped telephone calls.

    If banks in Canada are to be considered conservative organizations to invest in or invest at, CIBC should be bought, taken over or merged into in institution that knows how to manage its own affairs with out something blowing up every year or so (eg: Enron, the growing sub-prime losses, client confidentially breeches…).

    Management at all levels should be taken to task and in many cases escorted off their respective premises'. What a bunch of loose cannons
  3. Ted B from Toronto, Canada writes: The other banks have been able to implement a policy. I suppose CIBC needs to keep a hold on its 'Top Laggard' position amonst the banks.
    Cheers to CIBC for having a little integrity.
  4. T Smith from Ontario, Canada writes: Does anybody really expect anything else from this sorry excuse for a bank? It is just one thing after another. Whatever happened to the 'missing files' that were misplaced a year or so ago? Have they got their fax machines figured out yet? How many more 'right offs' do they have planned? Can we all line up to join their excutives to help them out with patting themselves on the back?
    They almost have to go out of their way to top these stories every couple months or so.
    Keep it up boys.....you are almost better than Seinfield!
  5. Duane Freemantle from writes: 'Under the new legislation, businesses and telemarketers that place cold calls to customers are now required to ask for permission before recording the conversations.' It is unknown how long business have been doing this, but when I called CIBC they clearly state that this conversation my be recorded (of quality control, etc ...). This kind of want to make you hangup quicker when they call.
  6. Terry Terry from Brantford, Canada writes: Like brand name toilet paper, all banks are pretty much the same. But everything I hear about the CIBC suggests itís just a little further ahead in being a crappy place to do business. (BTW: ALL telemarketing should be illegal).
  7. Ryan M from Ottawa, Canada writes: For some reason, everytime a bank does something bad that makes the papers it seems to be CIBC. Who can forget the wrecking yard owner who for years tried to get CIBC to stop faxing client information and nothing was done until he went to the media.
  8. Bert Fegg from Canada writes: Terry Terry from Brantford - how far is your head stuck in the sand? Let's make telemarketing illegal?!? You are barely in control of your own opinion in this culture. If someone weren't telling you what to wear, where to eat, who to boink, you'd be lost. That's the way it is. Here we do as we are told and if any void were created inside the 24/7 marketing that occupies your entire brain space, another and possible less benign tactic will be leveraging your wallet open. Get it?
  9. BEN DOVER from WESTERN CANADA, Canada writes: I don't think that this is C.I.B.C.'s biggest problem although it must have been annoying for them to listen to the recordings and repeatedly hear stock holders ask them how they could have been so STUPID!!
  10. Joseph Whistle from Canada writes: In addition to not picking up the phone anymore, if I see that the call is blocked, shows all zeros, or is from an 800 number, I quickly pick up and hang up again to make it stop ringing.
  11. aniphylactic shock troops from Victoria, Canada writes: I set my phone on two rings. It goes to the machine. The telemarketer's computer dialler hangs up. I haven't talked to a telemarketer in 15 years at least.
  12. Janice Cooper from West Kootenays, British Columbia, Canada writes: I have worked for and/or banked with three of the big chartered banks and two Trust Companies in Canada, and I have to say CIBC is the least client-friendly and most fee-gouging I have experienced. Try to get your personal or small-business banker to return your call within less than 3 days--unless you've got huge money, forget it. My husband and I are in the process of transferrring all our personal and business banking to our local Credit Union and have already found their staff to be friendly, efficient, and welcoming. Time to rein in the power and arrogance of the big banks.
  13. Brian Lowry from Fredericton, Canada writes: I recently called CIBC to dispute a recurring credit charge that I had never approved, and they simply referred me (uselessly) to the vendor after blaming me for making a (non-recurring) purchase via the internet (horrors!) from the same vendor. When I subsequently cancelled my credit card as a result, I was warned that I'd be responsible for shifting any recurring charges to other cards.

    I'm with those posters here who say avoid CIBC at all costs -- I'll certainly never do business with them again. At least now when they fax my information to random people in the US, it will be stale information... and there's no chance I'll be talking with them on the phone again any lifetime soon.
  14. foo bar from Canada writes: Yeah, all the banks suck. CIBC is incompetent, RBC has the most bitter and angry people I have ever had the unfortunate luxury of dealing with, and the BoM stole my roommate's GICs from his safety deposit box.
  15. Harbinger from Out West from Prince George, Canada writes: Taped telephone calls? Or tapped telephone calls? What a difference one letter makes.
  16. Karina_I (my art at windstream.ca) from Canada writes: I wish all the phones would have a setting which would allow customers to record the conversation and that disclosure statement would work both ways automatically: when I informed one of the customer service representatives at Rogers that I am recording the call the same way they do - she hang up on me!

    I find that over the last several year the service level at almost any company would it be bank, phone provider, taxi etc became less professional, less knowledgeable and considerable more rude.
  17. Gordon Murray from Canada writes: When someone calls claiming to be of my credit card company, tries to sell me an obscure insurance term that already twice in two years has been an attempted sell to me, on my cell time, and THEN suggests 'Well, you put your number in the online form', I'm not at all surprised to read this article. Don't they have some duty to correlate their telemarketing attempts? Really, how many times can something that obscure be an attempted sell to a person? Is that field on that online form REALLY a due leave BLANK outside of such ridiculous warrants? Someone should be recording calls all right. It should be government regulators. Perhaps such complaints as mine here DID lead to the idea of recording telemarketing prompts from source, presuming management competent in such preclusions under the law. Of course if credit card companies, in the case of such claims to rights to telemarket to accounts filling form fields, perhaps regulators might like to have an eye on Estoppel and if there's such a field on that form to claim exists. If rights to telemarket are claimed for that phone fields fill, then perhaps credit intermediaries fail provision of that form field and perhaps the form at all then. Of course it could have been a fraud entirely, that call. How would a person know? And again that statement from that telemarketer might have been a personal opinion in frustration of being paid to sell from a list, subject to not knowing how many times any customer had been called. Customers might not care for sucked in telemarketers frustrations. I know I don't. Perhaps I should have called in that call and demanded consideration for both the idiot nuisance, the information forward risk and for the time it takes. Perhaps it's just best blogged now and a list of actions received forwarded after a year (towards costs mitigation). I know WAYYYY more than I want to know about crap like this and I'm probably WAYYY luckier still than most on it.
  18. Terry Terry from Brantford, Canada writes: Thanks for the enlightenment Bert! What am I having for supper tonight?
  19. Albin Forone from Toronto, Canada writes: The only thing anybody has on me from a 'cold call' is me saying 'Do you have a do-not-call-list?' Usually the answer is a defeated 'Yes.' So I say, 'Add me to the do-not-call-list.' Maybe the Gestapo will knock one day because of that, but they won't take me alive.
  20. marc l from pembroke, ontario, Canada writes: For about 6 years I have been successfully convincing people and businesses to avoid any association with CIBC. I call them the bank of the devil. Here are a few examples of the culture under which they operate: they employ a collection agency that hounds and threatens with fake warrants for arrests, friends, children and neighbors of a small debtor, a few thousand dollars, a debt that the critically ill man could not deal with and when he became able to deal with it was so angry about the threats made to his teenage daughters and friends, decided not to pay it and challenge the bank with provincial law. The bank also refused to cash a Crimestoppers TV Bingo cheque for a little old lady who one a hundred dollars. The lady did not have an account at CIBC BUT the Crimestoppers account was at that particular branch! Its a bank that gave a customer an R9 credit rating claiming he moved without notifying them; this after they continued to mail threatening letters and make phone calls to the man at his new address. Do not bank with CIBC....they cannot be trusted to handle anything to do with your life.
  21. Raymond P from Canada writes: A major phone company starting with B and ending with L claims it may record calls. After 20 or more calls and no satisfaction I asked if they truly recorded calls because at no time did a supervisor or manager ever contact me to resolve my complaint. I am more upset at being photographed every time I use a bank machine.
  22. MJ M from transplanted Ontarian in Alberta, Canada writes: Is there anything the CIBC isn't the first to screw up in Canada?
  23. paul degen from Canada writes: But If you have nothing to hide, why not.

    I always enjoy how these corps. and government swear these privacy infringements will never happen again and it's all a big mistake, only to read about another one the next week by a different corp. or level of government.

    The thin edge of a bigger wedge.
  24. DCM DART from Montreal, Canada writes: Just another day at the COMPLETELY Incompetent Banking Corp. (CIBC). They really should get a Dilbert award for their management 'prowess'!
  25. Bernard Samson from Dog River Sask, Canada writes: Karina_I, thanks for joining me in throwing the 'may be recorded' message back in their face. Whenever I hear this phrase, the first thing I say to the human I eventually speak to is, 'Thanks for permitting me to record this conversation'.

    Hopefully whoever is listening in will eventually get it.

    'May' works both ways.
  26. Vancouver Canadian from Vancouver, Canada writes: And see the mess they caused with their botched attempt at running Edulinx the service centre for Canada Student Loans...

    have a look at the horror stories at canadastudentdebt.ca

    Canadian Impervious Bank of inCompetence!

    This bank is just attrocious! We sent them about 60 complaints and they wrote a letter back that said 'your complaints have been forwarded to the appropriate are'

    And they did nothing!
  27. Donald Redhorse from Tanpabay, United States writes: Perhaps it would have been more profitable for the CIBC to record some of the dumb decisions that the bank has made this past year
    by key executives, who should be fired .
    DFR
  28. Globe Reader from Canada writes: So the Privacy Commissioner made a ruling requesting that banks stop the practice of recording calls. But did she specify any penalties for not doing so? That would be a way to get the banks' attention.
  29. Ted Schrecker from Ottawa, writes: What part of NO doesn't CIBC understand? Seems to be a basic failure of cognitive ability here ...
  30. John E from Canada writes: CIBC should spend more time sprucing up its risk management policies, if there's any, so it won't get hit by yet another Billion-dollar credit-related problems.
    Try record communications within the trading and investment depts. Don't waste your time on communications with retails clients.
  31. 4Cryin Outloud from Canada writes: The CIBC doesn't deserve the privledge of being in business. Next to the weapons industry, I think they are Canada's worst corporate citizen.
  32. Ter3 Hamer from Canada writes: This horse needs a new jockey. A new trainer. A new owner.

    The worst managed bank in the western world.
  33. gordon davies from Victoria B.C., Canada writes: When ANY enterprise records without your permission any of your dealings with them, just sh owes an untrustworthy deviant business to be avoided.
  34. Two Cents from Toronto, Canada writes: I'm surprised at how CIBC could remain in business. It sounds like it's run by Nigerian scammers. Then again, this is Canada.
  35. marc l from pembroke, Canada writes: Note: President's Choice Financial is under control of CIBC, just like ING bank is associated with RBC. Doing business with PC financial benefits CIBC.
  36. No Left or Right Just Neutral from Canada writes: People, just be thankful that they are not faxing your private banking info to some junk yard in Pensylvania!!!
  37. Rick Garrett from Charlottetown, Canada writes: Lawful Access or Unlawful Access ? Please check out Lawful Access, Data Retention and Capturing of Voice.

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