Supreme Court Addresses Provincial Regulation of Banks and Class Action Standing in Bank of Montreal v. Marcotte Trilogy
September 23, 2014
The Supreme Court of Canada recently released its decision in Bank of Montreal v. Marcotte and its companion cases, Marcotte v. Fédération des caisses Desjardins du Québec and Amex Bank of Canada v. Adams. It held that: (1) certain provincial consumer protection legislation imposing fee disclosure requirements on credit card issuers, and remedies for their breach of these requirements, can constitutionally apply to banks; and (2) a representative plaintiff in a multi-defendant class action in Québec does not need to have a direct cause of action against each defendant to have standing to pursue the class action.
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Written by John B. Laskin, Sylvie Rodrigue, Jeremy Opolsky and Steven Slavens