Comerica (CMA), OCC Enters Agreement Over Compliance Issues

Comerica Incorporated (CMA) entered into an enforcement agreement with the Office of the Comptroller of the Currency (OCC). This relates to the bank's unsafe and unsound practices concerning the risk governance framework and internal controls. Following the release of this news, investors turned bearish on the stock, leading to a loss of 5.7% in the company's shares. Per the agreement, CMA has to set up a compliance committee to demonstrate its implementation of proper board oversight and corporate governan ...