SAN DIEGO, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Comerica Incorporated (NYSE:CMA) securities between February 9, 2021 and May 29, 2023. Comerica is a financial services company.
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What is this Case About: Comerica Incorporated (CMA) Failed to Disclose Violations in its Operations of Direct Express
According to the complaint, during the class period, defendants failed to disclose that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits on debit cards to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor's office in Pakistan, ...