Comdirect Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile3 entries
2017
Activist-investor criticism
Petrus Advisers publicly challenged Comdirect's cost structure, governance, incentive arrangements, and management quality while seeking greater attention to shareholder returns. The pressure formed part of the background to the later change in ownership and merger with Commerzbank.
2016
Temporary exposure of customer balances
A software-update error briefly allowed a small number of customers to view other customers' account balances. The available account indicates that third parties could not initiate transfers, that no financial or material damage was reported, and that Comdirect apologized and informed affected customers. A software-update error briefly allowed a small number of customers to view other customers’ account balances. The incident did not allow transfers by third parties, and Comdirect apologized and informed affected customers.
2012
Erroneous €200 million account credit
A technical problem associated with the sale of funds caused approximately €200 million to be reported temporarily in a customer's account. After the entry was reversed, the customer showed a negative balance and Comdirect reimbursed the resulting lending charges. A technical problem connected with a fund transaction caused approximately EUR 200 million to be reported to a customer account. After the entry was reversed, the bank reimbursed borrowing costs arising from the resulting negative balance.