Violation Tracker Individual Record

Company: 
Comerica Bank
Current Parent Company: 
Comerica
Penalty: 
$110,000
Year: 
2008
Date: 
September 18, 2008
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
Secondary Offense: 
consumer protection violation
Violation Description: 

Comerica Bank agreed to pay $110,000 to the state and offer full buybacks of their Auction Rate Securities in settlement of allegations their marketing misrepresented the suitability of ARS products.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Michigan Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Michigan
HQ Country of Parent: 
USA
HQ State of Parent: 
Texas
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.