Scotiabank

The proposed class action against Scotiabank seeks damages for unlawful overcharging of interest and fees on automatically renewed Scotiabank mortgages.

As plead, Scotiabank has processed automatic renewals of mortgages without the knowledge, consent, or signature of mortgage borrowers, and has subsequently then charged the borrowers unlawfully high interest rates and fees.

The law firms of Landy Marr Kats LLP and Koskie Minsky LLP have commenced the proposed class action against Scotiabank.

If you are someone who has, or previously had, a mortgage or mortgage product that was automatically renewed, please fill out the form below for updates or email us at lawyers@lmklawyers.com

Case Update – Certification Granted (June 2026)

On June 4, 2026, the Ontario Superior Court of Justice certified this action as a class proceeding. The Court found that the plaintiff met the requirements for certification, allowing the case to proceed on behalf of borrowers across Canada whose Scotiabank residential mortgages were automatically renewed at a higher interest rate than their previous term. Certification is an important procedural step only and does not mean that the Court has determined Scotiabank is liable or that the plaintiffs have succeeded on the merits.

The principal issue to be decided at trial is whether Scotiabank’s practice of automatically renewing residential mortgages into a six-month closed mortgage at a higher posted interest rate, and charging related prepayment penalties, contravenes the Interest Act, breaches borrowers’ mortgage contracts, or otherwise entitles class members to compensation. The Court also certified common issues relating to damages and other remedies. 

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In any class action lawsuit, it is the Court that must approve and determine who will be eligible for participation in the class. If you feel that you may qualify for damages or remedies that might be awarded in this class action litigation, we request that you fill out and submit the above form to help us determine if you are a legitimate member of the class or to make sure that you receive any future Court mailings about the case. However, the return of the above form does not guarantee you any type of compensation whatsoever.