Attorney General Tong sends letter warning that his office may use ‘to the fullest extent’ its power against M&T Bank

HARTFORD, Conn. (WTNH) — Connecticut Attorney General William Tong, seeking answers from M&T Bank following its controversial merger with People’s United Bank, warns that his office is “using the fullest extent of our authority to protect families and businesses.” won’t hesitate to do so.”

Customers are running out of patience due to long lines at branches and long stays at call centers.

“I don’t have my debit card, they haven’t arrived in the mail, and they said they wouldn’t be able to access my online statement until the 20th, and I waited more than half an hour to deposit the check,” said M. & T Bank customer Isabella O’Brien.

Some customers are unable to pay their bills because they cannot access their accounts.

“I was on hold for so long Tuesday night. I was like I’m frozen. I need help. That my landline phone ran out of battery. I’ve got to deal with overdraft charges,” said West Hartford customer Jeanne Dean Will, which I received, return checks that should not have been returned, which were to be dealt with later.

Tong’s letter to the bank comes after his office received “numerous complaints” from customers and employees.

“I share your customers’ displeasure at the serious lack of preparation for this conversion,” Tong’s letter reads. “M&T’s poor planning cost gives Connecticut customers timely access to their banking records, their bill payment systems, and their money. Connecticut customers spent hours on hold and in branches trying to resolve problems that should have been addressed prior to conversion. Should Connecticut consumers continue to experience extended gaps in customer service, My Office will not hesitate to use the fullest extent of our authority to protect families and businesses.

M&T Bank bought People’s United Bank in 2021 for $8.3 billion.

Following another letter last year, the bank “made a series of commitments” to jobs at its regional headquarters in Connecticut, Bridgeport and Tarrytown, New York. Tong now wants more in-depth information to see if those promises were met.

“At the time, I noted that this was a significant step forward after a series of mixed messages and confusion,” Tong wrote in the letter. “While I appreciated those commitments, I also noted at the time that I would be watching closely to make sure your actions match your written commitments to local jobs and Connecticut communities.”

According to his letter, Tong previously noted “alarm and panic at the potential for expected job losses and economic damage to the city of Bridgeport and the state of Connecticut.”

In response, Tong wrote that the bank said it would keep 72% of People’s United Bank’s Connecticut workforce, which would equal 1,959 jobs. This includes a thousand people from Bridgeport. However, about 750 Connecticut workers were warned that their jobs could be “hardened.”

Since then, complaints have “not inspired confidence”, Tong noting that customers can’t access their online accounts, delays in real estate closures and long wait times for customers at branches and on the phone. is facing. Automatic payments have also been affected. Employees have also seen pay cuts.

The latest letter was sent by email on Wednesday and addressed to Michael Keegan, the bank’s executive vice president and head of community markets. The letter opens with Tong expressing “deep concern” about the Labor Day weekend merger.

“I respectfully request the meeting and immediate identification of a dedicated high-level person to serve as our liaison to expedite the resolution of these serious complaints,” Tong wrote.

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