This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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Forum LockedCIBC Lost Forms found! At least some...

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    Posted: 26/November/2004 at 12:25am
Internal faxes went to West Virginia for three years

RIDGELEY, W.VA. — Canadian Imperial Bank of Commerce has been faxing confidential information about hundreds of its customers to a scrapyard operator in West Virginia for more than three years, and he can't get them to stop.

And Globe and Mail Article
http://www.theglobeandmail.com/servlet/story/RTGAM.20041126. wxcibc1126/BNStory/Business/

CIBC has been faxing personal information to a Wrecker in the US!!!!

here's a link:

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/110143 6308027_38/?hub=CTVNewsAt11
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kevmetric Quote  Post ReplyReply Direct Link To This Post Posted: 26/November/2004 at 1:18am
Horrible!

But so typical!

The fact that outsourcing is done, these days,
is that a lot of these kinds of incidents
will be happening more and more, over in
Third World counties. And because those people
want to come over to North America, they will
risk cloaking their identity to come over, using
that information, quite likely.

Really disgusting on behalf of outourcers,
profit-mongerers and big corporations,
putting loyal customers at risk!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Withnail Quote  Post ReplyReply Direct Link To This Post Posted: 26/November/2004 at 6:20am

I was just about to post this after reading the article online.

At least it appears that everyone seems to be getting screwed by CIBC.  The disturbing thing is that they truly don't seem to care.

I spent 5 years of my life working for CIBC Wood Gundy and the general attitude of the traders and sales teams fits with the cliché money hungry thieves.  The majority of the company remains mid-back office people who never really found their 'calling'.  The burocratic tangled mess could rival any beurocracy in the world.

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Antonio Quote  Post ReplyReply Direct Link To This Post Posted: 27/November/2004 at 6:41am

Hey all:

Below is a copy of an email message I've sent to the Privacy Commissioner and to my MP.  (Thanks, by the way, for posting the news story.)

I hope Canadians react to the unconscionable attitude of the CIBC.

Cheers,

A

Dear Privacy Commissioner:

This upsetting news regarding the CIBC's incompetence and lack of concern is shocking to all Canadians.  That a financial institution should be so careless regarding clients' private information is unfathomable; this behaviour ought to be dealt with in the most severe of terms.

Yours sincerely,

Antonio XXXXX

Toronto ON

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 28/November/2004 at 1:42pm

OIVEY

I guess to err is human but to really mess things up requires a bank!  I am glad that I don't have to deal with that bank.  My provincial loan is handled through Roayl Bank and my federal loan is handled through hrdc.  I still have 4 months to go on my bankruptcy protection, then I have to settle in for 2 and a quarter years of student loan payments before I reach the end of the 10 year rule.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Withnail Quote  Post ReplyReply Direct Link To This Post Posted: 30/November/2004 at 7:36am

Now CIBC has turned around and is suing this man for leaking private information. 

To say they have nerve would be an incredible understatement.  At what point does negligence become criminal?

 

http://www.theglobeandmail.com/servlet/story/RTGAM.20041130. wxcibc30/BNStory/Business/

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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 30/November/2004 at 7:47am
i guess it depends who's being negligent, 'nail.
professionals built the titanic but amateurs built the ark...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 30/November/2004 at 11:34am
Originally posted by Withnail Withnail wrote:

Now CIBC has turned around and is suing this man for leaking private information. 

To say they have nerve would be an incredible understatement.  At what point does negligence become criminal?

 

Yes, this is definitely a case of chutzpah

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Post Options Post Options   Thanks (0) Thanks(0)   Quote diana Quote  Post ReplyReply Direct Link To This Post Posted: 29/March/2005 at 9:02am
What are the chances that the missing interest relief forms and missing documentation is in fact in west virginia. Has anyone contacted him? And I do not know how the CIBC can sue him. I thought he contacted the bank for years to stop faxing him. I think this man in w virginia could be our david to fight goliath.
diana
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Post Options Post Options   Thanks (0) Thanks(0)   Quote limabeans Quote  Post ReplyReply Direct Link To This Post Posted: 29/March/2005 at 6:10pm
wow unbelievable!!! i remember i went to CIBC  yrs ago seeking a chequing account. and they said they need so much money for me to open one...keep it in for 5 months and i cant have it. another thing too 1996-1997 they allowed my child tax credit to be cashed by a girl for 1 whole yr. and i asked them how and why? they said a bunch of bs and they had no comment and they said if i asked again why they allowed the cashings with the other girl using her own id they would sue my a@@ so badly i would be a street bumb. also i let child tax know my new address....but they kept telling me it was going to be sent too new address they never did obliviously..big headache and bad bank.
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