M&T Bank Bank Account Or Service Complaint

M&T Bank Bank account or service department,

Savings account Account opening, closing, or management New York

I was essentially extorted by M & T bank into obtaining a mortgage through them. Due to a report filed with - by M & T Bank in -/-/-, I was banned from opening a First Time Home Club savings account with any bank other M & T bank. The charge that was reported to - was grossly inflated due to what I feel were inappropriate NSF charges. Even though I did n't think the report was fair, I did pay the amount owed to M & T, in full, less than one year after it was report to -. Around - - and - -, I attempted to open a First Time Home Club account with - & - - - -, but both were declined due to M & T 's -/-/- - report. After being declined by other banks, my housing counselor advised me to speak with M & T to see if they could withdraw the - report. I contacted M & T at a branch to inquire about them withdrawing the - report, but was informed that they could n't do that. However, they told me, I could open the First Time Home Club account


) to ensure that a consumer has no choice but to select a certain bank. To make matters worse, after successfully completing the First Time Home Club program and receiving the mortgage, and without informing me, M & T switched our First Time Home Club account to a different type of account that charges a monthly fee of $7.00. I believe it is the practice of M & T to do this to others in the First Time Home Club program. The account was charged the $7.00 fee each month until the balance went negative, then it was written off by M & T - all without ever disclosing the fees or sending me a statement. Upon completing the First Time Home Club program, I told M & T of our new address ( as was required in order to take funds from that account ) but M & T never updated the address for the account. Interestingly, they did have the correct address for our mortgage account. When I inquired about this with M & T they told me it was my fault for not changing the address and that I can not obtain the funds I had remaining in my account before the fees were charged and the account was written off ( they refused to confirm whether this account was also report to -, but implied it was not ). They also provided me with several old statements and told me a fee was only charged - times, but upon reviewing the statements I discovered at least - as many fees as they claimed. At best, switching First Time Home Club accounts to fee bearing accounts without disclosing such a change is deceptive business practice. It is also not plausible that they did not have my current address because they acknowledged having it for the mortgage which was obtained as a result of that particular savings account.