LANSING, Mich. (AP) - Michigan's already battered state budget stands to lose more than $1.5 million in annual fees because of changes being made by Comerica Inc. Comerica officials announced earlier this year that the company, founded in 1849 as Detroit Savings Fund Institute, plans to move its headquarters from Detroit to Dallas by fall. The company also has applied for a national charter, meaning bank regulators in Michigan no longer would oversee Comerica even if it kept its headquarters in Detroit. That change alone means the state may be unable to collect supervisory fees charged annually by the Michigan...
