Canaan Alexander v. The Bank of Nova Scotia

TORONTO, March 3, 2026 /CNW/ - Koskie Minsky LLP and The Bank of Nova Scotia ("BNS") jointly announce a proposed settlement of the ongoing class action regarding 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 ("PADs") between June 21, 2020 and April 30, 2024. After lengthy negotiations and the assistance of a mediator, a proposed settlement agreement was reached on January 21, 2026.

A hearing will be held on June 12, 2026, where the Court will decide whether to approve the proposed settlement. Under the terms of the settlement, BNS will pay a total of $10.45 million. BNS has not admitted liability and denies liability. If the settlement is approved, BNS will directly deposit funds into the bank accounts of eligible class members.

The class action was certified by the Ontario Superior Court of Justice on April 8, 2024. Koskie Minsky LLP has been appointed as Class Counsel.

For more information, contact Elie Waitzer at [email protected] or visit https://kmlaw.ca/cases/scotiabank-duplicative-nsf-fees-class-action/ 

SOURCE Koskie Minsky LLP