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Class Action - Desjardins Student Loan Insurance

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On July 9, 2019, the Superior Court of Québec (the “Court”) authorized Option consommateurs to institute a class action against Desjardins Financial Security and the Fédération des caisses Desjardins du Québec (“Desjardins”) on the grounds that it automatically added a Loan, Life and Disability Insurance premium (the "Insurance") to the loan repayment terms of persons who took out a student loan and who did not enter into a repayment agreement with Desjardins within six months of the end of their studies.




You are a member of the authorized group if all these conditions are met:

You have taken out a student loan guaranteed by the Government of Québec from a Desjardins Caisse; and

  1. Desjardins sent you a default repayment agreement, the terms of which were not modified prior to your first payment and which took effect after August 2, 2014; and
  2. These terms include an Insurance premium automatically added by Desjardins; and
  3. You have never made a claim under this Insurance.

Since the authorization of the class action, Option consommateurs has reached an agreement with Desjardins to settle the Class Action.

This web site presents the information and relevant documentation to this case and the settlement agreement thereof. To this effect, an interactive Frequently Asked Questions section is available to answer your questions. If you still have questions after having consulted the Frequently Asked Questions, do not hesitate to Contact Us using the form below.



Frequently Asked Questions
 

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