The Consumer Financial Protection Bureau (CFPB) has sued Comerica Bank, alleging that the bank systematically failed its 3.4 million Direct Express cardholders, primarily unbanked Americans receiving federal benefits. The CFPB claims Comerica deliberately disconnected over 24 million customer service calls, charged millions of customers illegal ATM fees, and mishandled fraud complaints.
According to the CFPB, Comerica prioritized profits over its customers, forcing some cardholders to endure lengthy wait times or being told that no error occurred when they reported fraud. The bank also imposed unfair terms on consumers seeking to stop payments and failed to investigate account problems, resulting in additional fees for some cardholders.
The CFPB is seeking to stop Comerica’s unlawful conduct, provide redress for harmed customers, and impose a civil money penalty. Consumers can submit complaints or report suspected industry misconduct through the CFPB’s website or by calling (855) 411-CFPB.
Source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-comerica-bank-for-systematically-failing-disabled-and-older-americans