OCC announces enforcement actions against Comerica

The Office of the Comptroller of the Currency released enforcement actions taken against national banks and federal savings associations, and individuals currently and formerly affiliated with banks the OCC supervises, for May. “The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified.” The OCC announced a Formal Agreement with Comerica Bank & Trust, National Association, Ann Arbor, Michigan, for “unsafe or unsound practices, including those relating to the bank’s risk governance framework and internal controls.”