Consumer complaint received 2023-05-19
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: M&T BANK CORPORATION

Complaint:
M & T Bank refuses to investigate more than fifteen unauthorized withdrawals from my account. As a result, M & T Bank was unable to supply an explanation of its findings. After three requests, M & T Bank disregarded my request for the documents they relied on to decide. Also, M & T Bank must still meet its burden of proof that no error occurred. M & T Banks investigation was perfunctory and deficient. On Monday, XX/XX/2023, I discovered unauthorized ATM transactions posted in my checking account. As a result, more than {$6200.00} of my Federal Student Aid was missing. That evening I called the bank to report the error. XXXX, an M & T Bank associate, recorded the details. He told me an investigative team member would contact me within three days. Meanwhile, M & T Bank would issue provisional credit. Receiving no response by Friday, I called M & T Bank for an update. XXXX, an M & T Specialist/Supervisor, said M & T Bank denied the claim. The reason for the denial was not apparent because the file had no notes. However, after reviewing the file, he quickly uncovered the error. When entering the original complaint, XXXX correctly described my debit card as lost/stolen. However, mistakenly, he indicated that the debit card was still in my possession. M & T Bank used this incorrect information to deny my claim without investigating. XXXX sent an email to the decision maker explaining the error and requesting reconsideration of the claim to no avail. Eight days have passed, XX/XX/2023, and I am elated to find an M & T Bank envelope in the mailbox addressed to me. Enclosed is a memo. The memos date is XX/XX/2023, the exact date I called and learned the claim was denied. We are denying your claim, the memo reads. I re-read it three times, searching for what I missed. There is no explanation for the investigators decision. Desperate for relief, I made over twenty calls, exceeded five hundred minutes talking, and spoke with every specialist in the M & T Fraud department. Finally, I filled out an Additional Information Form. Once completed, I met with M & T Bank Assistant Vice President XXXX XXXX at his branch. XXXX faxed the form to the fraud department and phoned to confirm receipt. Encouraged that a resolution is near, I reached out to M & T Bank on Monday, XX/XX/2023. XXXX XXXX records my request for the documents upon which M & T Bank relied in making their determination ( 12 CFR 1005.11 ( d ) ). A week later, no documents. I called M & T Bank and learned the case was reopened. The date was Tuesday, XX/XX/2023. The next day I called, and XXXX XXXX, an M & T Specialist, crippled me with the truth. 
There was no investigation, XXXX told me. You have yet to receive documentary evidence because there is none. The only two documents in your file are the memo dated XX/XX/2023, and the Additional Information form you completed. XXXX explained that the recent increase in fraud claims has made it impossible to investigate them all. In response, transactions performed with a personal identification number entered, debit card present, and the security chip read are considered authorized by the debit card owner. Customers typically call to withdraw the claim. For this reason, we do not investigate these cases. These are the facts we saw with your claim. For M & T Bank to continue with an investigation, you will need a police report. She insisted it was company policy. I asked XXXX to flag, for review, the audio recording of our conversation. This unlawful situation has caused me to miss this college semester. It has cost me countless hours of phone time. It is distressful to remember how hopeful I was when I thought the resolution was near. I am a victim of debit card fraud and seeking full restitution. Also, I am a victim of the fraud M & T Bank described as an investigation that never existed. For this, I am seeking full reimbursement.

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