Canadian Imperial Bank of Commerce

Toronto, Canada

The Canadian Imperial Bank of Commerce (CIBC) is one of Canada’s largest banks, offering a full range of financial products and services including personal and business banking, wealth management, and capital markets services. With a strong presence in North America, CIBC is known for its customer-focused approach and comprehensive financial solutions.

CCI Score

10.33

April 18

Latest Event

Federal Court of Appeal Dismisses Human Rights Complaint Against CIBC

A federal court dismissed a human rights complaint alleging discrimination based on disability and sexual orientation at CIBC. The court upheld that the bank provided reasonable accommodations and followed proper procedures, reflecting reliable labor relations and respect for human rights.

Take Action

So what can you do? Support CIBC by shopping, spreading the word, or offering your support.

Shop Alternatives SEE ALL: State Street

Mizuho

Scotiabank
Use Your Voice OTHER TOOLS
Investigate
Share the Score SUPPORT CCI

SABOTEUR

Canadian Imperial Bank of Commerce is currently rated as a Saboteur.

+10 to +24 CCI Score

Companies in this bracket take more subtle actions to undermine authoritarian practices. They might implement internal policies or support reforms that quietly weaken oppressive systems, contributing to change in less overt ways.

Latest Events

OCT

23

2024

Federal Court of Appeal Dismisses Human Rights Complaint Against CIBC
76.21

A federal court dismissed a human rights complaint alleging discrimination based on disability and sexual orientation at CIBC. The court upheld that the bank provided reasonable accommodations and followed proper procedures, reflecting reliable labor relations and respect for human rights.
+80

Labor Relations and Human Rights Practices

October 23

The Federal Court's decision to dismiss the human rights complaint against CIBC underscores that the bank adhered to fair labor practices and upheld human rights standards. Despite allegations of discrimination based on disability and sexual orientation, the court found that CIBC provided reasonable accommodations and acted procedurally fairly. This outcome reflects positively on CIBC's labor relations and human rights practices.

Federal Court of Appeal upholds dismissal of human rights complaint against CIBC
OCT

21

2024

Ex-CIBC Employee Discrimination Appeal Denied
-57.12

A former CIBC employee's appeal alleging discrimination due to disability and sexual orientation was dismissed by the Canadian Federal Court of Appeal. The court upheld the Canadian Human Rights Commission's decision, raising serious concerns about CIBC's treatment of its employees, including claims of inadequate accommodation, salary reduction, and falsification of employment records.
-60

Labor Relations and Human Rights Practices

March 26

The case highlights significant issues in CIBC's labor relations and human rights practices. Allegations that CIBC failed to provide necessary workplace accommodations, reduced employee benefits, and falsified employment records indicate systemic problems in treating employees fairly, particularly those from marginalized groups. Such practices contribute to a climate supportive of authoritarian disregard for individual rights.

Ex-CIBC employee denied appeal in discrimination case - GLI
NOV

01

2019

CIBC Ends Corporate Political Donations
46.31

In November 2019, CIBC revised its internal policy to cease making corporate political donations across Canada. This change was made following scrutiny of past contributions, including donations to the governing Saskatchewan Party, which raised concerns about corporate influence in politics. The policy shift signals a move towards reducing the bank's involvement in partisan financing and decreasing potential support for authoritarian influences.
+80

Political Contributions and Lobbying Efforts

March 26

CIBC's decision to end political donations represents a positive step in reducing corporate influence in politics. By discontinuing contributions, particularly after previously funding a governing party known for controversial policies, the bank is mitigating its role in indirectly supporting potentially authoritarian governance. This move is consistent with anti-fascist principles that call for transparency and accountability in corporate political behavior, making it a commendable shift away from practices that can undermine democratic processes.

CIBC Has Stopped Donating to Political Parties After Making Contributions to Scott Moe’s Saskatchewan Party
DEC

13

2005

CIBC Regulatory Misstep in Political Contributions
-8.66

In December 2005, CIBC was sanctioned by U.S. securities regulators for failing to disclose multiple political contributions and for directing executives to process these funds as personal or marketing expenses. This misstep highlights a broader issue in the bank’s approach to political funding and regulatory compliance, raising serious questions about its commitment to transparency and ethical business practices.
-60

Political Contributions and Lobbying Efforts

March 26

CIBC’s failure to disclose additional political contributions and its attempt to circumvent internal policies by having executives contribute in a personal capacity reflect deeply problematic behavior in the realm of political contributions and lobbying efforts. This case illustrates the bank’s willingness to sidestep regulatory requirements for political donations, thereby undermining transparency and accountability. Such actions can indirectly support authoritarian practices by eroding public trust and democratic oversight.

CIBC pays U.S. again for regulatory misstep
JUL

01

2002

CIBC Settles with SEC Over Political Donation Violations
-5.11

CIBC World Markets Corp. and three executives were sanctioned by the SEC for violating political donation regulations by engaging in prohibited political contributions before undertaking government business. The penalties and lack of proper disclosure highlight a troubling entanglement between the bank’s business practices and political influence.
-60

Political Contributions and Lobbying Efforts

March 26

CIBC made political donations that directly violated SEC regulations by supporting a political candidate and then engaging in government securities work within the prohibited period. This action reflects a deliberate circumvention of political donation rules, contributing to corporate complicity in undermining democratic processes and enabling potential authoritarian influence.

CIBC ordered to pay settlement for violating political donation rules
-40

Executive Political Engagement

March 26

The involvement of top executives in orchestrating or failing to prevent the political donation violations underscores a concerning level of executive political engagement. Their actions not only flouted internal practices but also contributed to an environment where corporate leaders play a direct role in political maneuvering, which can undermine public trust and democratic accountability.

CIBC ordered to pay settlement for violating political donation rules