John Q public screwed again by the big banks, in my case, CIBC.

I recently received a note from CIBC stating that my Personal Line of Credit (PLOC) was going up 1%.

The note, which was NOT SIGNED BY AN EXECUTIVE was generic in nature and blamed the increase on the "global credit market conditions".

I would like to know, if all the CIBC and Wood Gundy executives are prepared to return their bonuses based on inappropriate credit activities and funds generated by participating in the "global credit market" over the last 6 years?

Theses bankers and traders have received seven and in some cases eight figure bonuses during good times. They helped generate the "global credit market conditions" i.e., crisis and now are asking me, a client, to pay for their screw up. This is so wrong on so many levels.

I'll pay the increase, if the executives return their bonuses.

Otherwise, what CIBC and other banks are saying is..." we made a shit load of money for ourselves when the going was good, taking risks everyone else was, and now that the shit has hit the fan, we want you to help make up for our losses." That is pretty much what that little 8.5" x 3.5" piece of mail is articulating. At least make it a personal letter, signed by an executive. But no, someone might actually be held accountable.

So, what will it be, can the shareholders of CIBC and other big banks expect a refund back from the very executives that profited and put us in this mess, or are they going to nail millions of customers to make up for their loss?

Thanks,
Morley Brown

Don't take it! Email the big banks and demand that your PLOC, in good standing, be not affected by an increase or that the executive return their previous bonuses!!

CIBC:

TD:customerfeedback@td.com

BMO:Ombudsman: BMO.Ombudsman@bmo.com

RBC:

ScotiaBank: mail.president@scotiabank.com