Consumer complaint received 2020-08-13
Company: M&T BANK CORPORATION
State: MD
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Problem with additional add-on products or services

Complaint:
I am a XXXX XXXX  that provided XXXX  to Essential workers during the Pandemic I logged into my bank account on XX/XX/XXXX in the morning To find that my account had been totally wiped out and was over drawn {$230.00} When I contacted the bank i was informed about a provisional credit that they had Issued me on XX/XX/2020 for {$1600.00}. I did not request this credit nor was I informed that I had been giving this credit. When I asked why they said it was a credit given in regards to my stimulus check and any account that was negative at the time was issued this credit that was mandated by whom I am not sure so that you could have the full benefit of your stimulus check. Well the problem with that was my account was not negative. The day before I had two deposits one for {$250.00} and {$1000.00} and on the XXXX I had a deposit for {$3400.00} and I had another deposit on the same day for {$3500.00}. Again when was my account NEGATIVE .... in my opinion all this was a bunch of lies and predatory lending at the highest level. Not to mention my Stimilus check was deposited in my account on XX/XX/2020 and cleared 3 days later ... So why was i issued a credit 3 weeks later for my account allegedly being negative ... More Lies. 

When I spoke to several supervisor at M & T Bank over the phone about this situation one supervisor informed me that I should have been sent a letter in the mail about the credit which I did not receive and he also stated that several other customer called and said they too claimed that they did not receive it or notice that they got this provisional credit. 
After to speaking to several people at the bank they all came to the same conclusion my account was NEVER NEGATIVE and they did not know why I got the credit. There was nothing they could do to reverse it to help with my current financial hardship in which they where cause of In addition to this I had {$14000.00} in my Business saving account the is also used as my overdraft protection to my checking account. 

I feel like they did this to hurt people down the road by reversing that credit without proper notification caused my account to be overdrawn and they took every dime I had ..It also left me open to receiving several {$100.00} dollars in NSF if I did not have the financial means to cover all outstanding bill and expenses. I had to borrow money form Family to cover my expenses for the next two weeks I was devastated ... .business has slowed down for me at this point in time. 

I feel like it was there intent to make money off their consumer hardship if they could not cover their expenses once the credit was reversed by collecting thousand of dollars in NSF.. They never even sent out a letter stating when the credit was going to be reversed so customers could have been prepared ... However, I was blind sided since I never notice that they gave me the credit until they reversed me and threw me into financial chaos. 
This a bank that send you a letter every time you add a card to XXXX XXXX  but sent nothing out about this NOT ONE SINGLE PIECE OF CORRESPONDENCE about this Credit. I cant imagine how may other customers that they did this too who are struggling to make ends meet and stay healthy and STAY ALIVE during this COVID 19 Pandemic. 

I am Super beside myself and I have been banking with them for over two decades.

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