Consumer complaint received 2023-12-16
Company: M&T BANK CORPORATION
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Cashing a check

Complaint:
My account at XXXX recently went negative {$8.00}, XXXX on XX/XX/XXXX due to an M & T Bank check that I deposited into my account on XXXX the XXXX 2023. That would be 4 months ago. XXXX informed me that they found out M & T Bank would not be fulfilling this check on XXXX the XXXX which was roughly 120 days later keep that in mind. I have reached out to my bank and I've reached out to M & T Bank and I reached out to the check writer. It comes from a car dealership who has informed me that they've never had a check not clear nor have they ever had XXXX bounce. Being that I deposited almost a half a year ago now I don't even remember the guy 's name that personally sent me that check unless someone's able to read his handwriting off of the actual physical check. But that's besides the point because right now my issue is with M & T Bank and M & T Bank should have an issue with the check writer if they say they can't get the funds. I want to be clear also this check didn't bounce the only excuse they gave you XXXX was they weren't going to fund it that could mean a XXXX different things and I don't know what it really means I just know it means that they took that check back out of my account and did so 100 % illegally according to the law and regulation written by and for the board of governors for the Federal reserve system. I also called M & T Bank and got them on a recorded line now three different times consecutively each teller or banker telling me when I specifically asked if I deposited a check over {$5000.00} into my account When can I expect M & T Bank to contact my bank to let them know it would be fulfilled or not, what are the legal time limits you have as a bank at M & T Bank to let my bank know that and each one of them has told me no more than 10 days which according to the law is incorrect it's less than that but regardless none of them has gone above 10 days. Again mine was pulled back out of my account after 120 days. Any sensible person in their right mind especially after waiting the initial XXXX weeks after deposit to receive my funds, would expect that those XXXX weeks are utilized for seeing if the check is good or not because if it wasn't good then you wouldn't give me the money that is XXXX the depository bank. Now according to Federal regulation section XXXX notice of non-payment reads as follows and I quote : states that paying banks are required to provide notice of non-payment to the depository bank on all returned checks of {$2500.00} or more. This notice is to be received by the depository bank no later than XXXXXXXX XXXX. on a second business day following presentation. So the law reads second business day after I've handed them a check yet someone thinks it's okay to say they're not going to fund the check and debit it from my account after 120 days nearly half a year. XXXX XXXX collection of checks XXXX paying banks responsibility for return checks. TO DECREASE THE RISK TO A DEPOSITORY BANK THAT A CHECK WILL BE RETURNED AFTER FUNDS HAVE BEEN AVAILABLE FOR WITHDRAWAL, REGULATION CC REQUIRES " EXPEDITIOUS '' RETURN OF CHECKS. A PAYING BANK RETURNS A CHECK EXPEDITIOUSLY IF IT RETURNS A CHECK TO THE DEPOSITORY BANK WITHIN XXXX BUSINESS DAYS OF PRESENTATION. ( There are no longer checks subject to the XXXX day test because they no non-local checks ) alternatively, a bank returns a check expeditiously if it sends a check in the same manner as it would have sent The check for forward collection. Now I have XXXX other pages of law that all explain how that money needs to be deposited back into my account because what happened was illegal according to law timelines and regulation. I need this to pay my bills I still haven't even paid my rent and wherever I paid any of my bills because I can't when it's negative {$8400.00}. There's also a timeline which this needs to happen according to law and if this doesn't happen expeditiously I will be getting a legal team together and this will end up costing M & T Bank much more than {$8400.00} as I will also be asking for lawyers fees and court costs on top of all the fees I have with every other bill I'm not able to pay now and any other damages I have thus gone through to this point because of someone doing something illegal at M & T Bank damaging my account my character my ability to pay my bills and causing undue stress, lack of sleep, in a sense of unease about everything because it's the only thing on my mind. I can assure you as these sections in the law that I have that I will provide you with as well we're pointed out to me by lawyers And I've been informed if I can't get you guys to just follow the law and try to push it off onto somebody else as if it was their fault when this was between XXXX banks and it's not because of a bounced check it's just because the funds wouldn't be fulfilled for whatever reason The reason which I was not given nor was XXXX all sounds too fishy to me. And at that point I will then go ahead and have my lawyers reach out to you from the XXXX XXXX XXXX XXXX XXXX office. I truly need this handled immediately I have no time to waste and I am already roughly 10 days or more into my XXXX window of sending in an official complaint which will undoubtedly get me funded through this complaint process so long as I follow it steps so I can go about it XXXX of XXXX ways This is just my first attempt with you guys to do it sensibly. I assure you you've never heard somebody's check not being fulfilled 4 months later that's unheard of that's not expeditiously that's not second business day and even the law states they got rid of the four-day waiting period nowhere does it say anything above 4 days. And although there are exceptions, even though we're still well outside the time frame for exceptions if they were made, certain things need to have taken place that did not take place like in writing me receiving when I would be finally seeing the money or when I wouldn't be there needs to be a time frame written down as well as multiple other things that did not take place that I will provide You with in the regulation. Lastly I definitely need this handled immediately and I do not have 60 days to wait on this. Again I'm trying to do a sensibly maybe it was a mistake maybe somebody working up there did something they weren't supposed to it could be a multitude of things but I know XXXX thing it's not my fault the money was there and is there and I just need this money back because I'm not going to file bankruptcy and ruin my life because somebody wanted to do something illegal at M & T Bank. That's what the laws are put in place for they're not to go by every once in awhile they are to be followed and adhered by at all times. Not just by me but by you also.

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