Consumer complaint received 2023-12-21
Company: M&T BANK CORPORATION
State: NY
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
To : Consumer Finance Officer Full Bank Name : M & T Bank Location : XXXX, New York Type of banking product : Credit Card Description of problem : Unauthorized promo interest rate ( on purchases ) without my written consent ( XX/XX/XXXXXXXX XXXX  ) { applied on account after 2 years opening XX/XX/XXXX } Mischarged Dollar Amount : XX/XX/XXXXXXXX XXXX  {$2200.00} ( {$35.00} on average monthly unauthorized promo interest for several years ) XX/XX/XXXX amount is now {$2400.00} Detailed Explanation : I am a victim of an unfair and fraudulent practice ( illegal promo rate ) committed by M & T Bank. This action is prohibited by the FDICs Law and Regulations for non discriminatory lending. I opened my Credit Card XX/XX/XXXXXXXX XXXX  a basic credit card with balance transfer promo which was not used/activated as it reflects on my statements. 

It is illegal to place a promo rate on an account without calling, or me signing an agreement. All promotional rates and offers will start in the first 6 months of account opening ( the other promo offers after account opening usually take place a few months later by mail and or email. It must take the consumers written or verbal consent at a branch or etc to begin. I know this from experience working for 2 separate banks as credit card/ Mortgage servicing rep. I want to know the explanation as to why my account has randomly active a promo interest rate in XX/XX/XXXX 2 years after my account opening, which is two years after account opening.

M & T Bank algorithmically applied a promotion on purchases interest rate of 0 % 2 years after account opening without my knowledge or consent in XX/XX/XXXX ( conveniently right after the biggest purchase I have made 2 years after opening the account ). 

Ive called customer service several times about it and theyve rudely lied to me, claiming I may have agreed to the promo interest ( without proof of evidence ) as a way of negating and not fixing the error. My credit card agreement paperwork does not include a purchase promo, only balance transfer promo which was never used/activated. 

In XX/XX/XXXX I called and the customer service rep XXXX could not explain why my dilemma was occurring she blamed me and said I did it. I asked for proof of me signing off my credit card features detailing sure capabilities. She could not so I asked for her to escalate my call up to a manager XXXX. I was told to mail a letter to XXXX XXXX XXXX XXXX XXXXXXXX, DE XXXX '' ( which is on the bottom of the credit card 's statements ). The manager XXXX that the call to was dismissive, didn't attempt to help me at all. Instantly told me to mail my concerns and disconnected the phone line. 

I mailed my concerns 3 times and heard nothing from M & T, even til this day.

Contact Log at M & T customer service : : From the false promo date XX/XX/XXXX to XXXX XXXX I have added several end of year illegal promo interests of about {$360.00} accrued which totaled XXXX. 

XX/XX/XXXX and ( I have not received any follow up after my call earlier today ) from M & T the total amount owed from the illegal interest charge is. 

Spoke to XXXX who transferred me to XXXX at M & T XX/XX/XXXX created an urgent request and is said to call me back.never did.but that call needs to be reviewed. 
It is now XXXX  ( XXXX is the current total in fraud promo charge ) and I have not received any confirmation of the investigation that should have already taken place on my account. 

Still without a resolution, The FDIC Forwarded my case to Consumer Finance. In XX/XX/XXXX, in the next month of XXXX, the promo purchase interest rate has vanished but the money owed to me from the mis charges has not been sent as a check nor reallocated to the balance. The amount now owed is {$2400.00}. 


( billing statement for the first 3 years after account opening ) XX/XX/XXXXXXXX XXXX  account opened Purchases XXXX Cash advance of XXXX with fee of XXXX Balance transfer 0 % [ balance subject to interest rate XXXX ] Promo on purchase 0 % [ balance subject to interest rate XXXX ] If I agreed to promo purchases upon opening, the balance subject to promo interest rate would indicate XXXX XX/XX/XXXX Purchases : XXXX Cash advance XXXX previous balance XXXX Balance transfer 0 % [ balance subject to interest rate XXXX ] Promo on purchase 0 % [ balance subject to interest rate XXXX ] XX/XX/XXXX Purchases : XXXX Cash advance XXXX previous balance XXXX Balance transfer 0 % [ balance subject to interest rate XXXX ] Promo on purchase 0 % [ balance subject to interest rate XXXX ] Illegal to give a client a promo rate without calling, or me signing an agreement. All promos start the first 6 months of account opening, I know this from experience working for 2 separate banks as credit card rep.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation