CFPB sues Comerica Bank for failing to administer federal benefits program
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The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Comerica Bank, alleging the bank failed to properly administer a federal benefits program involving prepaid debit cards. The lawsuit accuses Comerica of terminating customer service calls, improperly charging ATM fees, and mishandling fraud complaints.
December 06, 2024 | 4:00 pm
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Comerica Bank is facing a lawsuit from the CFPB for allegedly failing to administer a federal benefits program properly. The accusations include terminating customer service calls, charging unwarranted ATM fees, and mishandling fraud complaints.
The lawsuit from the CFPB could lead to legal and regulatory challenges for Comerica Bank, potentially affecting its reputation and financial performance. The allegations are serious, involving customer service and financial mishandling, which could result in penalties or operational changes.
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IMPORTANCE 80
RELEVANCE 100