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The Financial Post
Saturday, May 2, 1998

Computer bytes CIBC customers

by Richard Blackwell

TORONTO -- A computer software glitch at Canadian Imperial Bank of Commerce this week prevented 85,000 deposits from showing up in its customers' accounts.

The deposits, along with thousands of withdrawals and bill payments made by telephone or personal computer on Tuesday, Wednesday, and Thursday, were processed but did not appear on the accounts.

They were to be recorded on clients' accounts over the weekend, the bank said on Friday. CIBC said it would pay bank charges or lost interest resulting from the delay.


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