Company Directory - Comerica Bank
Company Details - Comerica Bank
Comerica Bank
WebsiteDallas, USA
ISIN: US2003401073
Comerica Bank is a financial services company offering a range of banking solutions including personal and business banking, treasury management, and wealth management services. With a strong commitment to customer service, they provide tailored financial solutions to support businesses and individuals in their financial growth.
CCI Score
CCI Score: Comerica Bank
-17.53
0.01%
Latest Event
Comerica Bank Chief Economist Comments on Fed Independence
Bill Adams, Comerica Bank's chief economist, issued a note highlighting that the Fed's reluctance to cut rates amid political pressure—particularly from President Trump—underscores the central bank's independent stance. His commentary suggests a resistance to politicization and authoritarian influences in monetary policy.
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ENABLER
Comerica Bank is currently rated as an Enabler.
Latest Events
- APR072025
Bill Adams, Comerica Bank's chief economist, issued a note highlighting that the Fed's reluctance to cut rates amid political pressure—particularly from President Trump—underscores the central bank's independent stance. His commentary suggests a resistance to politicization and authoritarian influences in monetary policy.
- DEC092024
The CFPB has sued Comerica Bank, alleging that the bank systematically failed approximately 3.4 million federal benefits recipients by dropping customer calls, charging illegal ATM fees, and mishandling fraud complaints associated with its Direct Express prepaid card program. In response, Comerica countered with a lawsuit against the CFPB, arguing that the investigation was overreaching and that the bank operated under federal oversight.
-60
Executive Political Engagement
April 7
Comerica’s decision to sue the CFPB appears to be an effort to deflect accountability for its alleged systematic failures, undermining effective regulatory oversight. This political maneuvering against a consumer watchdog illustrates a disregard for public interest and vulnerable federal benefit recipients.
CFPB sues Comerica for ‘systematically failing’ federal benefits recipients
-75
Business Practices and Ethical Responsibility
April 7
The CFPB’s lawsuit alleges that Comerica employed unethical business practices in managing the Direct Express program, such as deliberately disconnecting customer calls and levying illegal fees on vulnerable consumers. These actions prioritize profit over consumer welfare, severely undermining ethical business responsibilities.
CFPB sues Comerica for ‘systematically failing’ federal benefits recipients
- DEC062024
The CFPB charged Comerica Bank with systematically neglecting and exploiting vulnerable Direct Express cardholders by disconnecting calls, imposing illegal fees, and denying proper customer service. The agency alleges that these practices harmed disabled and elderly Americans who rely on federal benefits, while Comerica countered by filing a lawsuit against the CFPB for regulatory overreach.
-40
Public and Political Behavior
April 7
Comerica Bank's decision to countersue the CFPB and contest the agency’s consumer protection efforts reflects a broader political maneuver that undermines regulatory oversight. This action, seen as prioritizing corporate interests over the protection of marginalized groups, is indicative of public and political behavior that aligns with authoritarian or oligarchic tendencies.
-80
Business Practices and Ethical Responsibility
April 7
The CFPB lawsuit accuses Comerica Bank of deliberately exploiting vulnerable populations by cutting off essential customer service and levying unauthorized fees, thereby boosting profits at the expense of disabled and elderly Americans. This pattern of behavior represents a serious breach of ethical responsibility in business practices.
- MAY242024
On May 24, 2024, the OCC ordered Comerica Bank & Trust’s board to establish a compliance committee following the discovery of unsafe risk governance practices and internal control failures. The action came after a problematic wealth management technology platform upgrade led to widespread transaction errors and significant financial mismanagement, prompting strict remedial measures including enhanced financial reporting and improved oversight.
-60
Business Practices and Ethical Responsibility
April 7
The enforcement action by the OCC exposes significant failures in Comerica’s internal controls and risk governance frameworks. Such unsafe and unsound practices betray a lack of commitment to ethical business practices, undermining transparency and accountability in financial operations.
-30
Technology and Services Impact
April 7
Issues stemming from the wealth management technology platform upgrade led to transaction errors and overdrawing of accounts, reflecting significant shortcomings in the bank’s technology and services impact. This technical failure contributed to the overall financial mismanagement that necessitated regulatory intervention.
- JAN012024
OpenSecrets' profile for Comerica Bank indicates that the bank has not reported any federal lobbying activities or lobbying on specific bills, suggesting a lack of direct corporate political influence.
+60
Political Contributions and Lobbying Efforts
April 7
The data from OpenSecrets shows that Comerica Bank has not engaged in federal lobbying or in lobbying on particular legislative bills. From an anti-fascist perspective, this lack of active political lobbying is a positive indicator, as it suggests the bank is not using its resources to exert undue influence on policy-making that could favor authoritarian agendas.
- JAN012023
The article describes Comerica Bank’s structured approach to political engagement through its Political Action Committee and Government Relations Group. The PAC solicits contributions and makes bipartisan donations guided by a pro-banking, pro-business philosophy, while a PAC Board composed of senior executives oversees these initiatives.
-40
Political Contributions and Lobbying Efforts
October 10
Comerica’s PAC actively solicits employee contributions and allocates funds to candidates and committees that support its pro-banking philosophy. From an anti-fascist perspective, such corporate political contributions can deepen corporate influence over democratic processes, potentially marginalizing progressive and community-focused interests.
-30
Executive Political Engagement
October 10
The PAC Board is comprised of senior executives from Comerica’s major business segments. This high-level involvement in directing political contributions signifies a concentrated exercise of corporate power in shaping legislative outcomes, raising concerns regarding the undermining of democratic accountability.
- JAN012020
An OpenSecrets PAC profile for Comerica Inc reveals that its political action committee raised $510,770 during the 2019-2020 election cycle. The report provides data on corporate political fundraising, raising questions regarding the influence of corporate contributions in shaping political outcomes.
-10
Political Contributions and Lobbying Efforts
April 7
The PAC profile indicates that Comerica Inc raised $510,770 in the 2019-2020 cycle. While the data does not specify the allocation of these funds, corporate political contributions can deepen ties between financial institutions and political influence, which may facilitate policies that are less transparent and accountable. Given the potential for such contributions to indirectly support authoritarian leanings, a moderate negative score is applied.
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Corporate Financials
- Revenue
- 2023
- $2.96B
- Total Assets
- 2023
- $84.30B
- Operating Income
- 2023
- $1.07B
- Total Equity
- 2023
- $10.00B
Industries
- 522110
- Commercial Banking
- 522210
- Credit Card Issuing
- 523920
- Portfolio Management