Date Received: 2023-01-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I purchased my home in XXXX of XXXX with XXXX XXXX XXXX ( XXXX ) as the lender. The mortgage amount to be paid monthly was set at {$1300.00} per month. In XXXX of XXXX I set up an automatic payment with my bank ( XXXX XXXX ) paying {$1500.00} which was to be withdrawn from my checking account on the XXXX of every month to be sure ( XXXX ) would receive the payment in a timely manner on the XXXX of every month which would apply {$1300.00} to the minimum amount due and {$190.00} towards the principle. This was set up to continue till the end of the loan. In XXXX of XXXX, I was sent notification that my Hazard insurance was not paid and if I had not paid that insurance by a specific date then I would be subjected to " lender '' placed insurance which would be far more expensive and would offer less benefits than my original insurance company. This being my 1st mortgage was confusing to me and I thought originally that the mortgage company was to be paying it on my behalf with funds that were in escrow. I was told that I had opted to pay for my own insurance and would be responsible to maintain the insurance separate from my mortgage. I contacted my Insurance company ( XXXX ) and paid in full for the year forthwith. Both myself and the insurance company sent out the evidence they requested to show that the insurance had not been canceled. In XX/XX/XXXX, I received a letter from XXXX that they had sold the account to M & T Bank ( M & T ) and they forwarded my XXXX payment to M & T but that my new monthly payment would be {$1500.00} which was stated on my 1st statement from M & T.. Obviously, the increase got my attention and I called M & T to see what happened to increase my monthly obligation. In this original conversation, M & T claimed that XXXX had sold them the mortgage with my PIM, Hazard insurance, as well as taxes that were all to be paid out of escrow. M & T claimed that they had not known that I was paying the insurance on my own since the beginning of the loan. However, they promised to look into the issue. In the meantime, I reached out to XXXX insurance department and it was told to me that they would send me a refund for the monies that were charged to me in error which was for the " Lender Placed " hazard insurance paid out to ( XXXX XXXX XXXX XXXX ) in the amount of {$1300.00} which they had charged me before the sale to M & T but yet the remaining monies {$930.00} they claim was forwarded to M & T ( which had already been taken from my escrow for the lender placed insurance ) who then claimed to apply it towards the principle of the loan. I called M & T again to check on that and they claimed that they would refund me {$3500.00} which was overpaid since they purchased the loan but promised to do another escrow analysis which should then get it right. This is when I found the 2nd issue which I'll write about a little later. However, when they ran the escrow analysis, they still ran the Hazard insurance premiums as part of my monthly payment which failed to correct the problem. However, they now state that my new monthly obligation would be {$1400.00}. This is wrong. The problem is, who is at fault and how do I correct it. M & T has refused to correct the issue, and state the issue was with XXXX who states they no longer service the loan and don't have the ability to help either. The facts are, I paid {$3000.00} per month since the very beginning of my loan, which was never my intention. It appears they were collecting {$1500.00} from Bill Pay on the XXXX of every month and then they were collecting another {$1500.00} from Autopay on the XXXX of every month. They claim that it is common practice for people to pay down their mortgage and since I never bounced a check, it never raised a flag to them that this was not my intention. So, here I am now in XXXX, after nearly 12 hours of phone conversations and seem to be getting nowhere, I feel as though I need some assistance to correct the issues. This situation is causing me a lot of stress and cant seem to get them resolved. I can't see how this can be resolved. M & T is adamant that they are to collect monies in my escrow for my insurance, though it has already been paid, as I had from the onset. So, here I am overpaying almost {$40000.00} in just over 2 years, and then penalized another $ XXXX per month only because XXXX chose to sell the mortgage to M & T XXXX I have tried calling both XXXX and M & T several times since the error was noticed and as of XX/XX/XXXX I have not been refunded any money as promised nor has the account been corrected. I don't see how this is right or legal, and would like to know how to best move forward in resolving the issue and if possible getting the monies that were collected in error, returned back to the account it was taken from. So, to clarify, I have 2 issues. The overpayments that were paid monthly, {$1500.00} per month since XXXX of XXXX. They claim that it helped me to pay down the principle and will only help me later. My argument is that I should be able to decide that for myself and not be forced to go along with the error. How that was missed was the payments were taken usually within 4-5 days of the other, which allowed this to continue for as long as it did. The 2nd issue is the hazard insurance portion of the loan. I think it is clear evidence that I was responsible for the hazard insurance from the beginning, hence the warning and subsequent charge for the lenders placed insurance which was promised to be refunded, ( yet I have not yet received ) from XXXX. Should M & T who purchased the loan from XXXX honor the terms that were made? What would my recourse be? I feel as though this can be a much bigger issue than just myself and can really impact the average homeowner in a negative way. I am so upset and feel helpless in resolving it with the company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02720
Submitted Via: Web
Date Sent: 2023-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-20
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: Inquiry of my credit report were made to financial institutions without my knowledge. The institutions were : M & T Bank, XXXX XXXXXXXX XXXX and XXXX XXXX. Plus other financial institutions. Froze all my credit reports. Put dispute resolution in the credit bureaus.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07470
Submitted Via: Web
Date Sent: 2023-01-20
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-21
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: This is a formal complaint that M & T BANK is reporting inaccurate and incomplete credit information. I would like to state that M & T BANK is in violation of 15 USC 1666 b which states that a creditor can not report late payment to any consumer reporting agency. M & T BANK has been paid in full, I am demanding that M & T update XXXX and advise them to report on time for the months of XX/XX/XXXX, XX/XX/XXXX, XXXX, XX/XX/XXXX. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07111
Submitted Via: Web
Date Sent: 2023-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-20
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I called M & T bank many times ever customer service tells me a different lie every time me as a mortgage broker for 26 years I know these things work differently when you pay mortgage you have to report that it has been paid on time if you don't pay its otherwise. They dont report to my three bureaus at all.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-18
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: In XXXX of XXXX we opened a XXXX with XXXX Bank in XXXX, XXXX XXXX Bank was subsequently bought by XXXX Bank , which was subsequently bought by XXXX XXXX XXXX XXXX , and then in XXXX of XXXX, by M & T Bank which assumed the XXXX. On XX/XX/XXXX, after having had a XXXX balance on the XXXX for about XXXX years and prior to the sale of our house, we went in person to M & T Bank and closed the account, paying a {$180.00} fee to close the XXXX. On XX/XX/XXXX, we were victims of an internet fraud at which time our savings account was robbed of {$8000.00} by a wire transfer and our closed XXXX was accessed and charged {$10000.00}. It should not have been possible for the XXXX to have been accessed since it had been closed by us in person at XXXX M & T Bank XXXX in XXXXXXXX XXXX some XXXX weeks prior to the crime occurring. Yet M & T Bank held us liable to the debt and we had to pay them {$10000.00} at the closing on our house after it was sold.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MS
Zip: 39402
Submitted Via: Web
Date Sent: 2023-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-18
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: XX/XX/XXXX around XXXXXXXX XXXX XXXX phone was stolen at XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX NY XXXX. The phone included an XXXX XXXX XXXX credit card, M & T debit card ( x XXXX, joint account for XXXX and XXXX ). ATM pin was not enclosed with debit card and NY driver 's license. M & T was notified @ XXXX XX/XX/XXXX of fraudulent activity on XXXX 's debit account, 5 non-M & T ATM transactions, in total {$900.00} and 6 non-M & T inquiry ATM fees, in total {$19.00}. The overall amount was {$920.00}. M & T immediately provided a provisional credit of {$920.00}. M & T XXXX XXXX XXXX XXXX is an Investment Banking Analyst in XXXX. XXXX has never been able to take more than {$100.00} from a non-M & T ATM -- -how is this possible that these 5 non-M & T transactions for over {$900.00} were approved by M & T in one block of time? The weekend ABs phone was stolen she consequently replaced her phone ( see attached replacement bill ), her NY license ( see attached replacement documentation ), M & T debit card & XXXX XXXX XXXX credit card ( see attached replacement documentation ). XXXX XXXX XXXX credit card already had XXXX fraudulent transactions totally about {$110.00} before the card was frozen. All deemed fraudulent by XXXX XXXX. Dated XX/XX/XXXX, M & T sent a letter saying, " after a review of your account and thorough investigation, we have determined that these transactions in question were processed correctly, and no error has occurred '' Therefore we are denying your claim, # XXXX ''. " The provisional credit was reversed on XX/XX/XXXX '' XXXX XXXX, XXXX called to request claim # XXXX be reopened ( contacted XXXX ) - XX/XX/XXXX contacted XXXX that we had additional documentation, and we were instructed to go to the nearest M & T Branch and fax the documents to request the claim # XXXX be reopened. That same day, M & T Branch ( XXXX XXXX XXXX XXXX, NY XXXX ) faxed to XXXX the following replacement documentation : XXXX XXXX XXXX XXXX replacement phone, XXXX XXXX XXXX credit card and New York drivers license. XX/XX/XXXX contacted XXXX contacted M & T for a status and NOTHING has been done to address our claim and no follow-up dates have been provided.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 131XX
Submitted Via: Web
Date Sent: 2023-01-18
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I had an insurance claim for damages to my property. I was then effected by the COVID pandemic. I went onto a COVID forbearance. My insurance company sent my lender a check for {$3000.00} on XX/XX/2020. My lender applied that money toward my mortgage payments on XX/XX/2020. I now do not have the funds to pay the contractor who repaired my home. I was told it was because the lender had my file under " XXXX ''. I am now stuck without the funds to pay my contractor. I do not know what to do and I believe a clerical error on behalf of my lender should be detrimental to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33458
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-16
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: M & T BANK HAS CHARGED OVERLY EXCESSIVE FEES TO MY CHECKING ACCOUNT IN THE LAST XXXX YEARS, INLCUDING {$6000.00} IN XXXXXXXX {$3500.00} IN XXXX AND CLOSE TO {$1000.00} IN XXXX ( ALL PRIOR TO THEIR NEWLY REDUCED FEES STRUCTURE IN XXXX. ) I HAVE PREVIOUSLY REQUESTED IN WRITING IN XXXX, XXXX AND VIA PHONE CALLS TO M AND T BANK SEVERAL TIMES DURING THE PERIOD THAT AN " AUDIT '' OF MY CHECKING ACCOUNT BE PERFORMED. MY WRITTEN REQUEST WAS NOT ACKNOWLEDGED AND WHEN I CALLED TO QUESTION FEES, I WAS TOLD THEY DO NOT PERFORM AUDITS. ALTHOUGH THERE WERE A FEW INSTANCES THAT FEES WERE REMOVED FOLLOWING MY CALL, BUT AT NO TIME WOULD ANYONE AT M AND T BANK AGREE TO REVIEW MY ACCOUNT IN TOTAL TO DETERMINE THE ACCURACY OF FEES. .ADDITIONALLY, MY CONCERNS FOR THE WAY MY ACCOUNT WAS BEING ADMINISTERED BECAME ESCALATED WHEN OUR ACCOUNT SECURITY WAS BREACHED. A FRAUDULANT CHECK WAS CREATED, MY SIGNATURE FORGED AND CHECK WAS CASHED IN THE AMOUNT OF {$2500.00}. THIS BREACH WAS FOUND BY ME, NOT M AND T IN XXXX, XXXX. THE FRAUDULENT CHECK CLEARLY HAD RED FLAGS THAT M & T SYSTEM DID NOT CATCH. IT WAS DATED XXXX, XXXX WITH A CHECK NUMBER NOT USED IN SEQUENCE AND NOT CASHED UNTIL FUNDS AVAILABLE IN XXXX, XXXX THE {$2500.00} WAS REFUNDED FINALLY IN XXXX, XXXX ( MORE DOCUMENTED DETAILS ON THIS ISSUE ARE AVAILABLE. ) I AM MAKING THIS COMPLAINT NOW BECAUSE M AND T BANK WILL NOT TAKE ACTION ON MY REQUESTS TO REVIEW THE EXCESSIVE AMOUNT OF FEES ( OVER {$10000.00} FROM XXXX TO THE PRESENT ) THEY'VE WITHDRAWN FROM CHECKING ACCOUNT OVER THE LAST FEW YEARS. ACCOUNT FEES APPEAR TO BE MAXIMIZED BY THE BANKS SYSTEM FOR POSTING DEPOSITS AND WITHDRAWALS AND HAVE BEEN IMPOSED WHEN I HAVE AVAILABLE FUNDS AT THE TIME OF A PURCHASE, BUT HAVE A REDUCED OR NEGATIVEBALANCE ONCE M & T SETTLES THE TRANSACTION. THERE ARE ALSO MANY INSTANCES WHERE MULTIPLE FEES WERE WITHDRAWN IN XXXX DAY.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 182XX
Submitted Via: Web
Date Sent: 2023-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-13
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: This CFPB complaint is in regards to my Checking and Savings account with M & T Bank. I deposited money into my accounts in XXXX and XXXX of XXXX My current balance is {$49000.00} in my Checking and {$45000.00} in my Savings, a total of {$95000.00}. There has been a hold on my account since at least early to mid XX/XX/2022. I am not able to even transfer money from my Checking to my Savings, or withdraw money from M & T. Despite a visit to an M & T Branch and many phone calls to customer service, M & T has been unable to put me in touch with the department who placed the hold, and this department has made no attempt to ask me for any type of verification. An employee at a local M & T Branch, located at XXXX XXXX XXXX, XXXX, VA XXXX, has been trying to help me. She has been very responsive ; however, she has informed me it is up to an internal department who is very difficult to reach. Therefore, no progress has been made. In summary, I have a total of {$95000.00} frozen in my M & T accounts. The M & T department who placed the hold has never officially communicated this to me, and has made no attempt to resolve it, despite my constant attempts for the last 4 weeks. I need to access this money. Please ask M & T to unfreeze my account so I can access my funds. Thank you.
Company Response:
State: VA
Zip: 22306
Submitted Via: Web
Date Sent: 2023-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-13
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: During the summer of XXXX I attempted to send money via my M & T bank account and XXXX and could not due to a pop up that stated my account was already used to another account and please contact the online banking department. I made that call and after XXXX hour of them trying to determine what the problem was I was informed a ticket would be submitted to the IT department and I would hear back from them. XXXX months later I attempted to use XXXX again and got the same pop up. I again contacted the online banking department and went through the same process and again was told a ticket would be created with the IT department and I would hear back from them. On Friday XXXX XXXX I again attempted to send money via XXXX and got the same message so I decided I would go to my M & T Bank on XXXX XXXX in XXXX. Monday the XX/XX/XXXX at XXXX I went to the bank and meet with the branch manager ( XXXX XXXX XXXX and showed her the pop ups I was getting on my account and explained what was happening. She proceeded to contact someone I believe in the IT department and explained what was happening with my account. After over an hour she received a telephone call informing her the problem was with XXXX. XXXX then attempted to contact XXXX and finally got in touch with a person - XXXX. She explained to him what the problem was and gave him my phone number and he returned the call to me. He then had me load the app " XXXX '' so he could view my transactions and proceeded to have me do multiple transactions on my phone with my account all the time XXXX was monitoring my account and no transactions appeared. After over XXXX hrs he informed us he was going finalize the problem and I would be getting a telephone call in the near future from XXXX XXXX authorization department. Having spent over XXXX hrs in XXXX 's office and taking up her time she suggested I go home and wait for the call. I returned home and within XXXX minutes I received a phone call from ( XXXX ) and was told he was XXXX from XXXX 's authorization department. He said seeing how I already had the app XXXX he had me open the app and he started to do transactions. I checked my account and no money had transacted. After a short time he informed me I would need to download the XXXX app which XXXX used to complete the authorization. After it was loaded on my phone he then informed me I had to go to a XXXX ATM and the nearest XXXX was at XXXX on XXXX XXXX and once their text him to let him know I was there. Once at XXXX I texted him and he had me on speakerphone and instructed me to do multiple transactions of {$990.00} ensuring me would resolve the problem. I again checked my account and no transaction had been processed. Be advised that all this time because I the XXXX app he was able to watch what I was doing. He informed me to ensure the corrections had taken place with my debt card and it was authorized I needed to purchase {$500.00} XXXX gift card which would be refunded to me. I made the purchase which he was able to see on my phone and said he would do a final check and call me to let me know all was working. I returned home and checked my account and still no transactions had been processed. Within XXXX minutes I received a call from XXXX stating he could not complete the authorization as my bank account was linked to my wife 's account and the same procedure had to be completed with her debt card. I informed him my wife was at work and would not be home until after XXXX and he said text him when she was home. When she arrived home we texted him and he had her download the XXXX app on her phone and again started to transactions. He then informed me that the same procedure had to be completed at the XXXX ATM with her debit card. Again I went to XXXX with my wife 's phone and at the XXXX ATM with him on my wife 's speaker phone and he instructed me how to do multiple {$990.00} transactions. Once the transactions had been completed he informed me within an hour the XXXX issue would be resolved and the authorization would be completed. I returned home and both my wife and myself checked our bank accounts and found XXXX - {$990.00} transactions had hit her account and XXXX {$990.00} transactions had hit my account. On Tuesday XX/XX/XXXX at XXXX I was at the M & T Bank XXXX XXXX XXXX XXXX transaction receipts and again sat with XXXX . I explained what had happened and she contacted I believe M & T Fraud department and explained to them what had taken place. After about an hour I was informed that I was at fault as I had used the debts card and did the transactions on XXXX and due to the level of compromise of the accounts the bank could not protect us so rather then closing the XXXX accounts and opening new accounts a business decision was made that we were to close our exising accounts and find another bank. XXXX made copies of the XXXX receipts for her records and she informed me that due to me using the debt cards it was highly unlikely we would be able to get the money back. She then had our debt cards and accounts put on hold and started the procedure of closing our accounts and had the bank issue us XXXX checks with the remaining money in our accounts. I was told we would receive a letter informing us officially in XXXX days accounts would be closed. We have since have gone to another bank and opened new accounts. On XX/XX/XXXX I received a telephone call from XXXX from XXXX XXXX the banks Fraud Investigation Department asking me to walk him through what had transpired. After explaining the entire procedure what had taken place he informed me informed me that the bank would review what had transpired and we would be notified. On XX/XX/XXXX we received letters ( XXXX for each account ) from M & T stating my account was provisionally credited {$4600.00} and my wife 's account was provisionally credited {$4900.00} pending the findings of the investigation. On XX/XX/XXXX we again received XXXX letters ( XXXX for each account ) informing us after a review of our accounts and a thorough investigation it was determined the transactions in question were processed correctly and no error had occurred denying our claim and the provisional credits to our accounts were being reversed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21702
Submitted Via: Web
Date Sent: 2023-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A