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Warren: Comerica left retirees, veterans vulnerable to fraud

Joe Mont | January 11, 2019

Sen. Elizabeth Warren (D-Mass.) is urging officials at the Department of the Treasury and Department of Veterans Affairs to respond and react to allegations that Social Security beneficiaries were the victims of fraud through their use of the Direct Express program, a government program administered by Comerica Bank.

Warren detailed her concerns, and the results of an investigation she spearheaded, in letters to Treasury Secretary Steven Mnuchin and Bureau of the Fiscal Service Commissioner Kimberly McCoy that were delivered Thursday. The letters were sent as the Treasury Department seeks applications to rebid the agreement Comerica Bank currently holds as the Direct Express program operator.

Comerica is a financial services company headquartered in Dallas, Texas, with reported total assets of $71 billion as of Sept. 30, 2018.

Since 2008, the Treasury Department has partnered with Comerica and other financial agents to distribute monthly federal benefit...

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