Date Received: 2016-08-24
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: I applied for a loan on a rental property with M & T Mortgage. My intentions were to rent out both units and I made that very clear in the beginning of the process. The loan officer recommended a XXXX loan for the reason of the lowest interest rate as this was my first property purchase. At no point did he verbally inform myself I had to live in XXXX of the units. The process was drawn out for over 6 months due to multiple parties on the M & T side leaving and filling in with a new representative. After providing multiple documents we got to the closing week and was informed only a few days before that we could not move forward due to both units being occupied by tenants. The loan office was very unprofessional throughout the entire process ; lacking response for weeks at a time, rude on the phone and most importantly misguiding. It was frustrating not receiving answers and when I did, it was always adding another step my lawyer or myself had to take leading to the 6 month process which ended in backing out of the deal all together.
Company Response:
State: NY
Zip: 14120
Submitted Via: Web
Date Sent: 2016-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-23
Issue: Settlement process and costs
Subissue:
Consumer Complaint: 7 years ago I started re-fi with my mortgage company. 5 years later and XXXX refinances that they constantly squelched, they sold my loan to another bank when we were at the end of the XXXX modification and it was a paper away from being finalized. The new bank than attached an additional {$84000.00} to my loan. XXXX offered me 2 % for 30 years, XXXX bank 2 % for 5 years. Totally XXXX on this one. Of course during the 5 years XXXX XXXX would not let me make a payment.
Company Response:
State: CA
Zip: 93065
Submitted Via: Web
Date Sent: 2016-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-20
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: M & T Bank Recovery Department XXXX XXXX XXXX XXXX XXXX, NY XXXX XXXX M & T Banks Recovery Department - Criminal Debt Collectors and Fraudulent Reporting Bandits That Are Purposefully Ruining My Credit as a way to harass me and bully me in regards to a charged off closed home equity account in which settlement payments have been consistently paid on time. M & T Representatives : XXXX XXXX, XXXX XXXX ( XXXX/XXXX/16 @ XXXX ), XXXX XXXX XXXX and XXXX XXXX For the past two years M & T Bank has relentlessly and illegally harassed and bullied me in regards to a home equity loan repayment settlement that it contractually agreed to that I have consistently paid on time. How does M & T Bank Harass Me? 1 ) They consistently report known erroneous late payment information to the XXXX major credit bureaus that damages my credit profile and costs me a lot of money due to high interest rates due to low scores and the valuable time it takes me to consistently contest the erroneous information. As a condition to my short sale, M & T agreed to forgive my original loan balance which it had already closed and charged off, for a smaller settlement amount to be repaid over 5 years. After the agreement was signed by both myself and M & T Bank and I begin to make the agreed upon timely payments they began to report to the XXXX credit bureaus that I was paying late on the charged off account on a monthly balance. And refused to show or report the agreed upon settlement balance. For two years I have contacted M & T to cease reporting the incorrect data and to update the correct information with the XXXX credit bureaus. M & T refused to update the settlement balance and to stop reporting the charged off closed account as late monthly. When I called customer service numerous times to inquire about its behavior, I simply asked the following questions - " why are you reporting my on time settlement payments as late? Why are you reporting the closed charged off original loan as late, if the settlement replaced it? They replied because you are still paying off the original balance of the closed and charged off account. We will continue to report the charged off and closed original balance as late until the new settlement balance in paid in full. I said this is not what you contractually agreed to. M & T reported it was unaware of the agreement made on its behalf by XXXX XXXX and XXXX XXXX and to send them a copy of the agreement. I forwarded them a copy of the signed agreement which is further supported by emails from M & T to me offering the agreement and they did not reply to my proof of agreement submission. When I called back again they reported they would continue to report it as late. On XXXX XXXX, 2016 I asked to speak with their credit reporting department and they reported they do not have such a department and that they only report to the bureau once the account is paid in full. I challenged this statement by asking then whom or what M & T department in reporting the erroneous information monthly to the credit bureaus and the representative replied " I am not going to argue with you '' and that it is what it is. I said this unfair debt collecting practices. Note the customer service reps tone during these conversations are always disrespectful, unhelpful, and deceitful. They double talk and contradict themselves to confuse you. And then when you call them out on the antics they reply " I will not argue with you '' and start to be belligerent and antagonistic and bullying. And I have contacted all XXXX major credit reporting agencies and they failed to hold M & T accountable by compelling them to evidence support the erroneous reporting. Please assist me Consumer Protection Bureau with stopping these illegal acts by M & T Bank that is ruining my credit and costing me time and money.
Company Response:
State: IL
Zip: 60615
Submitted Via: Web
Date Sent: 2016-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-16
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I spoke with my branch of M & T bank on XXXX XXXX in XXXX XXXX. I was told that I could not add more than one beneficiary to any new account. That in order to have my husband and XXXX children as beneficiaries as I had done in the past when the bank was XXXX XXXX, I would have to open XXXX separate accounts whether they be checking, money market or cd. I called other M & T Banks in XXXX XXXX and XXXX, XXXX and they do not have this rule. I called the M & T Service hotline and they connected me to XXXX XXXX XXXX in XXXX, XXXX who is the VP of XXXX branches XXXX XXXX XXXX. He said that this was true as an internal decision and there was NO written confirmation for account holders and he would n't give me internal memos. The bank claims that ALL banks in the US will soon be doing this. Not only is opening XXXX accounts cumbersome record keeping, it prevents me from accessing higher interest rates that vary with the amount of money held in a single account. This internal rule would also require me to make XXXX withdrawals every time I did to keep the accounts even to be fair to my beneficiaries. I argued with XXXX XXXX that this was an account change and should be in an account agreement and he said no it is an internal change. There is NOTHING in writing for consumers. Needless to say, I will not continue to bank at this M & T branch.
Company Response:
State: NY
Zip: 10543
Submitted Via: Web
Date Sent: 2016-08-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-15
Issue: Using a debit or ATM card
Subissue:
Consumer Complaint: On XXXX/XXXX/16, I went to the ATM located at the M & T bank at XXXX XXXX XXXX XXXX, XXXX, VA around XXXX. I use this ATM on a regular basis usually every other Thursday when my payroll has been directly deposited into my account. I attempted to get {$310.00} from the machine. The ATM made a long grinding noise and did not complete my transaction. No monies were dispersed to me. I left and went to work. I checked my online account for verification that my account was not debited. However, my account had been debited for the {$310.00}. I immediately contacted M & T bank to inform them of the situation as well as the branch where the ATM is located. M & T bank issued me a provisional credit of {$310.00} pending their investigation. I received a letter from M & T bank dated XXXX/XXXX/16 informing me that they determined that the transaction in question was processed correctly and no error had occurred and they were denying my claim. They then erroneously reversed the provisional credit of {$310.00} on XXXX/XXXX/16. I immediately contacted M & T regarding this matter and they informed me that I could submit a letter requesting that they re-open the investigation, which I drafted and faxed to them on XXXX/XXXX/16. As I informed them in my letter they should pull the film and look at it and they will see that no monies was dispersed to me when I was at the ATM on XXXX/XXXX/16. M & T bank wrongly debited my account for {$310.00} and I want my money to be correctly returned to my bank account. My payroll check is directly deposited into my account every other Thursday and a deposit was made on XXXX/XXXX/16 so there was no issue with the funds being available. Given my stellar banking relationship with M & T bank which spans approximately 20 years I strongly disapprove of their handling of this matter. This makes me very uneasy as a consumer that a banking institution can incorrectly take monies from my account. No monies were dispersed to me from the ATM on XXXX/XXXX/16 and M & T bank wrongly took monies from my account. I want and need my money back.
Company Response:
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2016-08-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-12
Issue: Taking out the loan or lease
Subissue:
Consumer Complaint: I experienced discrimination during the application or approval process.
Company Response:
State: MD
Zip: 21218
Submitted Via: Web
Date Sent: 2016-08-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-05
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: This is a formal complaint against and request for investigation into M & T Bank and its employee XXXX XXXX, Assistant Vice President and Branch Manager located at Route XXXX, XXXX XXXX XXXX, XXXX New Jersey XXXX Telephone number ( XXXX ) XXXX, email address XXXXXXXXXXXX. Two weeks ago I entered the above referenced M & T Bank branch with my mother, who I am visiting with/staying with for the summer, in order to open up a brand new business account for my XXXX, XXXX XXXX XXXX XXXX. The first individual who we consulted with was a young man who confessed that he had no idea how to open up a business account, and could not explain the different types of business bank accounts they offered, so he made a phonecall and stated that their " resident business banking expert '' who was apparently " out to lunch '' would assist me as she was apparently " more knowledgeable '' and could answer any and all of my questions. When this woman XXXX XXXX finally made her entrance, she proceeded to wave us over to her desk, where she proceed to, in a very aggressive fashion, grab towards the envelopes sitting on the desk near me, containing my entire savings, {$9200.00} in cash, while I mildly protested, stating that I had many questions before we proceeded any further in opening up a business bank account. We briefly discussed the different choices of bank accounts for business, and settled on a certain type of bank account. While entering all of our data, and collecting all of my documents including incorporation documents, my drivers license, XXXX, tax return documents, and other papers I had come prepared with, she kept making typographical and data entry mistakes, and eventually had to call over her " assistant '' to help her with the creation of my account. She kept stating over and over that this " was only her second business account '' that she had ever done, apologizing profusely, leaving both me and my mother extremely uneasy and nervous, and we constantly looked over at each other because this was kind of like watching brain surgery with a doctor who was reading an instruction manual. After nearly 2 hours of watching this incompetent woman and her assistant constantly fumble, correct, re-enter, and edit our data and information, she finally produced our welcome packet, replete with 2 blank checks. She had also ordered my business law firm checks and we picked out the type of checks, and also the ATM debit bank card as well. When I asked her for a temporary debit card so that I could pay my bills, she stated I would receive it within 3 business days at my law office location. I stated to her that this was strange but accepted, since all major XXXX banks that I am accustomed to will print out and provide a temporary ATM Card at account creation, but I let this issue go, as 3 days would not be fatal to paying my bills. She then again GRABBED my cash on the desk and gave me a a receipt for {$9200.00}. The next business day, on a Monday, I received a cryptic call from XXXX XXXX telling me that I would not receive a debit ATM Card, or my ordered ( and paid for checks ) because she made a mistake and the bank would require an " office visit '' before they could do so. I politely protested, and asked her why she did not tell me any of this before she opened my account, and aggressively took my money. She indicated in a very XXXX, XXXX, unfeeling, and discompassionate manner, that she was " sorry '' but really could not care less about the predicament that she placed me in. I could have opened up another bank account at a different bank with someone who actually knew what they were doing, and could answer my questions, but XXXX XXXX deprived me of this freedom of choice by her aggressive money grabbing behavior and mentality, and deceptive behavior, when I had opened up the account. See attached.
Company Response:
State: NY
Zip: 100XX
Submitted Via: Web
Date Sent: 2016-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-04
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I received a letter from M & T Bank that stated I needed to call to update information because of a change in regulatory requirements. That 's fair enough. The problem is that the phone number listed does not show up as an M & T bank number in an online search. Plus, anyone who wanted to steal account information could simply copy the letter, but change the phone number. The letter should direct the recipient to look up and call a number they can independently confirm to be an M & T bank number. The push-back I received was that they needed to have a new number because otherwise their customer service number would be overloaded. While that may be true, that means that they need to invest in their customer service infrastructure and provide a way to let callers quickly and easily select an option to respond to the letter. Directing callers to a random phone number to update bank account information is more than foolish. It sets a terrible precedent for future communication of sensitive information, and it provides a template for scammers to gain access to account information.
Company Response:
State: NY
Zip: 14534
Submitted Via: Web
Date Sent: 2016-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-02
Issue: Disclosure verification of debt
Subissue: Right to dispute notice not received
Consumer Complaint: I provided a sign on bonus for employment and was told that leaving within a year I have to pay it back depending on when, my offer letter did not state anything about paying the bonus back in full. I left the company after 9 months because the culture and organization is terrible. During my exit no one even mentioned anything about the signing bonus being repaid. I then received a letter from the M & T Bank collections group demanding that I pay the amount back and when I called, XXXX XXXX who I spoke to, was rude and not willingly to negotiate, which I was willing to do.
Company Response:
State: NY
Zip: 141XX
Submitted Via: Web
Date Sent: 2016-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-08-01
Issue: Taking out the loan or lease
Subissue:
Consumer Complaint: The M & T Bank sent me a letter offering a pre-approved personal loan up to $ XXXX which I did not reply, later it sent me an email with the same offer and again I did not reply, then the Bank gave me a phone call with the same offer and I accepted based on the offer declaring that it was to be based on no collateral and that it was to be for my own personal expenses with a very easy criteria. As it declares for using the money like this = " ... or simply be prepared for the unexpected. '' Then after I met the criteria including a XXXX credit score, and this Bank refuses my request of a small loan for {$2000.00}. ( the lowest available amount ) based on this reason, quote = " Ineligible Purpose For Loan Request. '' If I had wanted to buy an old used car for $ XXXX then I would have got a car loan, and if I wanted to buy a product then I would have used my M & T Credit Card which has a {$2500.00}. limit, but the offer was for a " personal loan '' and the Bank refuses the loan when I am doing exactly as their pre-approved offer asked of me. As such the Bank lied to me from the beginning through till the end as the loan rejection is a lie too because I met the criteria in full. I can not say if this breaks a Banking law but it was a breach of contract with myself, because the Bank broke its own words, broke its agreement to me.
Company Response:
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2016-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes