ED Magedson – Founder
COMERICA BANKCOMERICA BANK PHOENIX, Arizona United States of America
Comerica Bank which was headquartered in Michigan and then relocated to Texas. As a previous resident from Michigan, my family relocated to Phoenix Arizona so we wanted to be a loyal customer of Comerica Bank so we therfore relied on their advice and professional expertise to inform us how to better apply our money.
Unfortunately we put all of our funds in their bank to show loyalty and to form a relationship and partnership so both parties would benefit. We started a small business in synthetic turf so we used a CD as collateral and they gave us an unsecured line of credit tied to a property we owned in Michigan. To my dismay the Vice President of small banking is a complete lier and a very poor manager as he has no clue how to be a manager or run a business. This Vice President of small business is so unprofessional that he had 4-6 loan officers come and go as soon as they saw he was a complete deceitful jerk. At that very moment we began to move our assets to Chase Bank and they were more than willing to take over our persoan and business accounts. When our last CD matured on a Saturday the Vice President of Comerica Bank took the CD and froze the account without any notice to us. He knew exactly what he was doing and lied to my wife and myself along with lying to Chase Bank during a conference call on the following Monday. This Vice President of small banking for Comerica Bank in downtown Phoenix, AZ actually lied to my face about my wife as he is chauvinistic slob that knew he was dead wrong in his actions. So now 10 months later we are out over $100,000 in interest and we never defaulted on the unsecured line of credit. I told this Vice President of small banking to undo what he did so Chase can finalize our new relationship and he said he would not doa that. This is what the banks and society has come to, screw the honest person to gain something for themselves. I am the customer and it is his responsibillity to visit his customers place of business to make sure they are happy but he was too d**n lazy and above everyone else to even think of performing his job in an ethical fashion. This Vice President of small banking at Comerica Bank should be embarrassed and fired as a result of his actions. The Arizona Banking Commission and the FDIC will be notified and if justice is served they will be fined. The undo stress, emotions, financial crisis they have put our personal and business in will not go away until justice is served to Comerica Bank.
This report was posted on Ripoff Report on 09/17/2009 02:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/COMERICA-BANK/PHOENIX-Arizona-/COMERICA-BANK-Unethically-took-a-CD-that-matured-which-by-law-the-consumer-has-10-days-to-496544. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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