Comerica to transfer Canadian liabilities

Summary#

This notice says Comerica Bank plans to ask the Minister of Finance for permission to move its Canadian business liabilities to Fifth Third Bank, National Association. The move would happen through a merger if the minister approves and other closing conditions are met. The notice was published on December 6, 2025.

What it does#

• Announces that Comerica Bank intends to apply, on or after December 20, 2025, for approval under the Bank Act (Canada) to transfer all or most liabilities tied to its business in Canada to Fifth Third Bank, National Association.
• Says that, if the necessary consents and closing conditions are met, Comerica Bank will merge into Fifth Third Bank, National Association, and the Canadian assets and liabilities would become those of Fifth Third Bank, National Association.
• Notes that the approval is not guaranteed and will depend on the normal review by the Minister of Finance.
• Gives a way to object: objections can be sent in writing to the Office of the Superintendent of Financial Institutions (Canada) at 255 Albert Street, 12th Floor, Ottawa, Ontario K1A 0H2.

Who's affected#

• Customers, depositors, borrowers and creditors of Comerica Bank in Canada who currently have accounts, loans or other relationships with the bank.
• Staff and contractors who work for Comerica Bank in Canada could be affected by an ownership change.
• Fifth Third Bank, National Association, which would take on the Canadian business and its obligations if the merger and approvals go ahead.
• Regulators, since the change needs ministerial approval and other legal consents.

If the notice is unclear about who exactly will be affected (for example, specific product lines or branches), the notice does not provide those details.

Why it matters#

• If approved, the legal party responsible for certain accounts and loans in Canada would change from Comerica Bank to Fifth Third Bank, National Association. That can affect where people make payments, who they contact for service, and which laws or protections apply.
• Customers and creditors may want to review their accounts or contracts and consider whether to object before the approval is decided.
• The notice signals a potentially significant change in the Canadian presence of these U.S. banks, which can matter for local employees and the market for banking services.