Consumer complaint received 2024-10-24 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Money was not available when promised — 
Company: M&T BANK CORPORATION
State: TX

Complaint narrative:
THE CONSUMER WILL BE NAMED AND BE REPRESENTED AS THE PERSON AS THE BENEFICIARY / BEARER / HOLDER OF DUE COURSE / SENDER / REPRESENTED PERSON PURSUANT TO THIS COMPLAINT. THE CREDITOR OF XXXX XXXX XXXX XXXX CREATED A PROMISSORY NOTE ( DEBT ) IN THE AMOUNT OF {$21000.00} BEFORE THE CONSUMER UNDER ACCOUNT XXXX. ON XXXX XXXX XXXX & ON XXXX XXXX XXXX, THE NAMED INDIVIDUALS WITHIN THE INSTRUCTIONS AS TO BEING XXXX XXXX XXXX ( Principal Executive Officer ) & XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) & XXXX XXXX ( Senior Vice President ) WERE DELIVERED A REGISTERED BEARER SECURITY AND REGISTERED SECURITY NEGOTIABLE INSTRUMENT AS TO BEING WILMINGTON TRUST XXXX. [ THE ( TRUSTEE ) ] OVER THE XXXX XXXX XXXX XXXX ACCOUNT WAS DELIVERED A REGISTERED SECURITY DEBT INSTRUMENT UNDER REGISTERED SECURITY XXXX, BOTH NEGOTIABLE INSTRUMENTS, IN WHICH WAS MADE OUT : PAID TO THE ORDER OF WILMINGTON TRUST XXXX., WITH THE ENDORSED BENEFICIARY SIGNATURES OF THE CONSUMER. INSTRUCTIONS WERE GIVEN THROUGH THE CONSUMER AS A BENEFICIARY FOR WHICH THE TRUSTEE WAS TO DISCHARGE THE DEBT & TO CREDIT THE CONSUMERS TREASURY DIRECT ACCOUNT IN THE AMOUNT OF {$21000.00} & TO PROPERLY COMPLETE THE CONSUMERS IRS XXXX c AND XXXX F FORMS RETURNING COPIES OF THE FORMS BEFORE THE CONSUMER AND HAS FAILED TO DO SO AFTER THE CONSUMER PRESENTED A NOTICE OF DEFAULT FOR BREACH OF FIDUCIARY DUTIES AND NO RESPONSE WAS GIVEN FROM THE TRUSTEE. WILMINGTON TRUST XXXX. ( TRUSTEE ) FOR XXXX XXXX XXXX XXXX AS A SUBSIDIARY BUSINESS UNDER XXXX XXXX, XXXX.. THE CONSUMER WAS THE ACTUAL BENEFICIARY AS THE ACTUAL PERSON TO BE PAID BY THE XXXX BANK, UCC 4A-103 ( a ) ( 2 ), THOUGH THE CONSUMER HAS NO DIRECT ACCOUNT WITH THE TRUSTEE, THE BENEFICIARY BANK MEANS THE BANK IDENTIFIED IN A PAYMENT ORDER IN WHICH AN ACCOUNT OF THE BENEFICIARY IS TO BE CREDITED PURSUANT TO THE ORDER OR WHICH OTHERWISE IS TO MAKE PAYMENT TO THE BENEFICIARY IF THE ORDER DOES NOT PROVIDE FOR PAYMENT TO AN ACCOUNT. UCC 4A-103 ( a ) ( 3 ). THE PAYMENT PURSUANT TO UCC 3-602 ( a ) ( b ) & ( c ), OF THE DEBT NOTE / BILL WAS ISSUED VIA REGISTERED SECURITY NEGOTIABLE INSTRUMENT BEFORE THE TRUSTEE AND THE TRUSTEE WAS REQUIRED TO RETURN BACK THE CONSUMERS TENDER OF PAYMENT WHO WAS ENTITLED TO ENFORCE THE INSTRUMENT BY CREDITING THE CONSUMERS TREASURY DIRECT ACCOUNT OF {$21000.00}. UCC 3-603 ( a ) ( b ) ( c ). PURSUANT TO 3-307. NOTICE OF BREACH OF FIDUCIARY DUTY ( a ) ( 1 ). " Fiduciary '' means an agent, trustee, partner, corporate officer or director, or other representative owing a fiduciary duty with respect to an instrument. ( a ) ( 2 ). " Represented person '' means the principal, beneficiary, partnership, corporation, or other person to whom the duty stated in paragraph ( 1 ) is owed. ( b ) If ( i ) an instrument is taken from a fiduciary for payment or collection or for value, ( ii ) the taker has knowledge of the fiduciary status of the fiduciary, and ( iii ) the represented person makes a claim to the instrument or its proceeds on the basis that the transaction of the fiduciary is a breach of fiduciary duty, the following rules apply : ( 1 ) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the represented person. ( 2 ) In the case of an instrument payable to the represented person or the fiduciary as such, the taker has notice of the breach of fiduciary duty if the instrument is ( i ) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary, ( ii ) taken in a transaction known by the taker to be for the personal benefit of the fiduciary, or ( iii ) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person. ( 3 ) If an instrument is issued by the represented person or the fiduciary as such, and made payable to the fiduciary personally, the taker does not have notice of the breach of fiduciary duty unless the taker knows of the breach of fiduciary duty. ( 4 ) If an instrument is issued by the represented person or the fiduciary as such, to the taker as payee, the taker has notice of the breach of fiduciary duty if the instrument is ( i ) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary, ( ii ) taken in a transaction known by the taker to be for the personal benefit of the fiduciary, or ( iii ) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person. THE TRUSTEE WAS DELIVERED THE DEBT ( BEARER ) REGISTERED SECURITY NEGOTIABLE INSTRUMENTS BY THE CONSUMER AND WAS REQUIRED TO ENFORCE THE INSTRUMENT IN WHICH NOT ONLY WAS THE DEBT TO BE DISCHARGED BUT THE TRUSTEE HAD A FIDUCIARY OBLIGATION OF RETURNING THE TENDER OF PAYMENT IN CREDIT BEFORE THE CONSUMERS TREASURY DIRECT ACCOUNT THAT WAS INSTRUCTED BY THE CONSUMER AND TO RETURNING SAID COPIES OF THE IRS 1099 ( C ) FORM COMPLETED OUT AS WELL AS THE IRS 56F FORM AND THE TRUSTEE FAILED TO DO SO.

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