Connecticut Attorney General William Tong sent a letter to M&T Bank that highlighted multiple complaints his office had received from consumers and employees following the Buffalo-based bank’s merger with the former People’s United Bank based in Bridgeport.
“Complaints we have received since the conversion from customers and employees have not inspired confidence,” he wrote. “Customers were locked out of online accounts and phone apps, wait times at branches and on the phone were unacceptably long, property closings may have been delayed and otherwise complicated, payments automatics were interrupted, among other complaints.”
Tong also cited complaints generated by former People’s United employees who said they encountered problems with their new employer.
“Reports I’ve received regarding M&T employment commitments in Connecticut are equally troubling,” Tong continued. “We have heard that People’s United employees have technically been ‘retained’ by M&T, but in far lower paid positions. We have heard that people have been diverted from other Connecticut locations to Bridgeport to fulfill Bridgeport’s employment commitment. Employees have complained that new opportunities are largely based in New York, not Connecticut.
“We have received complaints that terminated employees have been denied access to timely information regarding COBRA health benefits, severance pay, vacation payouts, restrictions have been placed on their ability to collect stock options and accessing retirement funds, among other complaints,” he added. .
Tong requested information about M&T Bank’s commitments to its Connecticut staff, as well as the identification of a high-level representative to expedite complaints to his office.
“If Connecticut consumers continue to experience prolonged shortcomings in customer service, my office will not hesitate to use the full extent of our authority to protect families and businesses,” Tong said.
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