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Violation Tracker Individual Record

Company: Comerica Bank
Current Parent Company: Comerica
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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 Current Parent: USA
HQ State of Current Parent: Texas
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.