Comerica bank may be heading for bankruptcy. We have heard a few interesting stories regarding extremely aggressive fee behavior that is a big red flag when it comes to solvency issues.
What they are doing is holding deposits for longer than usual and then slapping on overdraft fees against their unsuspecting clientèle who think they have cleared deposits in their account. So a Comerica customer behaving in the way they have always done can now result in hundreds of dollars in fee income for the bank.
This kind of sting can only be run once on savvy customers but will really hurt people with sub par money management skills (which, lets face it, is most people).
Fees are a major source of income for banks. Up until now customers have always had to actually overdraw their account to incur fees. Comerica’s new policy of dinging people who actually do have the money in their account is definitely a new twist!
Sly Capital 
I really shouldn’t dignify this post with a response, however I must say this post is COMPLETELY false. Take a look at the financials for yourself.
The financials of Lehman Bros, Fannie Mae, Freddie Mac, Bear Sterns, WAMU, AIG et al all looked comfortable before they died too. In our experience extreme predatory behavior by any company is a sign of extreme stress.
This certainly qualifies as extremely predatory.
Check BofA – they just tried pulling this stunt on me. Next time, I’m changing banks.
Hi Randy,
It sounds like BOFA reversed the charges when you complained. Is this correct?
Comerica is refusing to reverse charges.
If you have the time let us know your story and we’ll publish it.
Same thing is being done by Lockheed Federal Credit Union. They are all at it..
I banked with Comerica until recently for about 8 months. I am a small business owner and had my business account with them, I finally had to close the account because they had been taking any where from $2,300-he highest, to $589.00 the lowest in overdraft fees every mnnth. I figure in the amount of time I banked with them they received close to $30,000.00 over a 10 month period in overdraft fees. This all done, with a positive bank account. They would simply hold the deposits, or pay all the debits first against a balance that did not reflect a positive bank account. Very scandalous. I am seeking Legal Action, and shall go to the Attorney General if need be.
Have you had any success or satisfaction?
We took them to small claims court and won. It felt nice to get that check!
Hooray for you! How encouraging! Thanks for sharing your experience.
Let me know your thoughts on this
I been with them for decades time to get out
Yes they got me with this stunt also! I deposited money on a Thursday to cover checks I had written but on Tuesday when the checks reached the bank I was hit with six overdraft fees for ISF’s! When I went to my branch to inquire what was going on I was told the money I deposited on Thursday after 5PM was considerd a friday deposit and that it takes 3 to 4 bussiness days for the money to clear and actually become available funds in my bank account! Even though it showed in the computer data that the money was physically in my account they still refused to revoke any of the fee’s!! I am now shopping for a new bank but doing extensive research before sighning up!
I was told today around noon by a vendor that they refunded almost $300 to my Comerica checkcard. So tonight when i checked to see if it had posted or was pending i saw three strange entries titled ‘deposit inquiry mode’ with three different amounts totalling about $60. What IS That???