Bank of Montreal

A class action lawsuit has been filed on behalf of all investors in Registered Retirement Savings Accounts for allegedly charging undisclosed fees on foreign exchange transactions. The complaint challenges the bank's practice of charging foreign exchange fees on stock trades and claims the Bank of Montreal intentionally hid and kept it secret from the class members, in breach of the defendants' contractual and fiduciary duties. The suit was filed on behalf of present and former clients who held registered retirement savings plans, registered retirement income funds, and registered education savings plans. Bank of Montreal along with its BMO Nesbitt Burns and BMO Trust divisions are named as defendants.