Comerica Bank abused and neglected vulnerable customers who relied on prepaid card for federal benefits [MSNBC.com]
Comerica Incorporated (CMA)
Last comerica incorporated earnings: 4/21 06:34 am
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Source: MSNBC.com
The Consumer Financial Protection Bureau on Friday charged Comerica Bank with abusing and neglecting vulnerable customers who receive federal benefits.“The CFPB is suing Comerica Bank for illegally harming disabled and older Americans who count on Social Security and other federal benefits,” CFPB Director Rohit Choprasaid in a release“By deliberately disconnecting millions of calls and harvesting illegal junk fees, Comerica boosted its bottom line at the expense of Americans living on a fixed income.”For nearly two decades, the CFPBsaid in a civil complaintDirect Express card users are primarily elderly and disabled Social Security beneficiaries who otherwise lack access to traditional forms of banking.But since 2019, the CFPB says in the lawsuit, “Comerica has impaired cardholders’ ability to protect and access their funds by routinely providing deficient customer service to Direct Express cardholders.”Among the alleged abuses, according to the CFPB’s lawsuit:The agency called Direct
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CMA
News
- Comerica's (NYSE:CMA three-year decrease in earnings delivers investors with a 18% loss [Yahoo! Finance]Yahoo! Finance
- Comerica Incorporated (NYSE: CMA) is now covered by analysts at UBS Group AG. They set a "sell" rating on the stock.MarketBeat
- COMERICA INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Investigates Comerica Incorporated’s Directors and Officers for Breach of Fiduciary Duties – CMABusiness Wire
- The Fed is likely to ‘go on hold' with rate cuts after June 2025, says Comerica Bank's Bill Adams [CNBC]CNBC
- Comerica Incorporated (NYSE: CMA) had its price target raised by analysts at Compass Point from $64.00 to $80.00. They now have a "buy" rating on the stock.MarketBeat
CMA
Earnings
- 10/18/24 - Beat
CMA
Sec Filings
- 12/9/24 - Form 8-K
- 12/4/24 - Form 4
- 12/2/24 - Form 4
- CMA's page on the SEC website