On May 29, 2023, after trading hours, American Banker released an article entitled "Comerica in 'serious violation' of Treasury's Direct Express program." The article discussed significant issues with i2c Inc. and Conduent Inc., two vendors to whom Comerica contracts out the day-to-day operations of Direct Express, a federal government program which deposits "roughly $3 billion a month electronically on prepaid cards to millions federal government beneficiaries who do not have a bank account." On this news, the price of Comerica shares declined by $1.40 per share, or approximately 3.59%, from $38.99 per share to close at $37.59 on May 30, 2023. The next day, the price of Comerica shares declined another $1.49 per share, or approximately 3.96%, to close at $36.10 on May 31, 2023.