CFPB Sues Comerica Bank for Neglecting Vulnerable Cardholders
The Consumer Financial Protection Bureau (CFPB) has charged Comerica Bank with neglecting and exploiting vulnerable customers who rely on the Direct Express program for federal benefits. The CFPB alleges that Comerica disconnected millions of customer service calls, imposed illegal fees, and failed to address fraudulent activities, all to boost profits. Comerica, which has an exclusive contract with the U.S. Treasury to manage these benefits, denies the allegations and has countersued the CFPB. The case highlights ongoing debates about the role and future of the CFPB in consumer protection.
