Comerica transfer to Fifth Third; Exchange Bank continuance

Summary#

• This Canada Gazette notice contains two bank-related items.
• Comerica Bank says it will apply on or after December 20, 2025 to have the Canadian liabilities of its business transferred to Fifth Third Bank, National Association.
• Exchange Bank of Canada says it will apply on or after January 6, 2026 to change its legal status to a corporation under the Canada Business Corporations Act.

What it does#

• Comerica Bank item:

  • Comerica Bank intends to ask the Minister of Finance, under the Bank Act (Canada), for permission to transfer all or nearly all liabilities tied to its Canadian business to Fifth Third Bank, National Association, starting on or after December 20, 2025.
  • If the required closing conditions and consents are met and the Minister approves, Comerica Bank would merge into Fifth Third Bank, National Association, and the Canadian assets and liabilities would become those of Fifth Third Bank, National Association.
  • The notice says anyone objecting can write to the Office of the Superintendent of Financial Institutions (Canada) at the address listed in the Gazette. The publication does not mean approval will be granted.

• Exchange Bank of Canada item:

  • Exchange Bank of Canada intends to ask the Minister of Finance, on or after January 6, 2026, for permission to apply for a certificate of continuance so it can become a corporation under the Canada Business Corporations Act.
  • The bank’s board can withdraw that application before it is acted on. Publication does not mean the Minister will approve the change.

Who's affected#

• For the Comerica notice:
  • Customers of Comerica Bank in Canada (personal and business account holders).
  • People or companies that owe money to, or are owed money by, Comerica Bank in Canada (debtors and creditors).
  • Potentially employees and service providers tied to Comerica’s Canadian operations.
• For the Exchange Bank of Canada notice:
  • The bank’s sole shareholder(s), directors and possibly its customers — but the public effect is unclear until the application is decided.
• In both cases:
  • The final impact depends on whether the Minister approves the requested changes.

Why it matters#

• If the Comerica transfer is approved and completed, Canadian accounts, loans and other obligations now handled by Comerica Bank would become the responsibility of Fifth Third Bank, National Association. That could mean changes in account management, where legal responsibility lies, and who to contact for customer service or disputes.
• The continuance of Exchange Bank of Canada to the federal corporate regime could change its legal structure and governance. That mainly matters to its owners and business partners; broader effects are uncertain from this notice alone.
• Both notices are early steps. They inform affected parties and give a path for objections, but they do not mean the changes will happen.