Payday loan, title loan, or personal loan -- Getting a line of credit -- Complaint #5039311
Complaint Overview
Complaint ID: 5039311
Company: M&T Bank Corporation
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Getting a line of credit
State: Pennsylvania
ZIP Code: 155XX
Date Received: 2021-12-23T12:00:00-05:00
Date Sent to Company: 2021-12-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XXXX XX/XX/XXXX : I phoned M & T Banks credit dept. @ XXXX to enquire about a pre-approved offer for a personal, unsecured loan. In the course of our nearly XXXX conversation, XXXX ( XXXX XXXX ) neglected to communicate that an application for this service would automatically be denied in the absence of any residual income and/or employment. When he asked if I were employed, I told him that I was NOT. XXXX proceeded with the loan application survey anyhow. I offered up my vehicle and IRAs as collateral, and thought of every imaginable asset I have ( e.g. an antique chandelier ). At the end of the call, XXXX rambled off a series of terms and disclosures, which I could not possibly understand. I indicated as much. While I dont exactly recall if or what his answer was, I do know that I affirmed whatever information I provided XXXX XXXX for the financial inventory, was accurate and true to the best of my knowledge. That being said, I did not explicitly give my consent to the release of personal information, nor pulling my credit history ( file ). XXXX XX/XX/XXXX : I initially contacted M & T Bank @ XXXX to check on my applications status. XXXX ( XXXX XXXX ) told me it was awaiting income verification, and I reiterated that I wasnt employed. I asked if I could change the amount of credit requested, thinking that a lower figure would increase my chances of approval, but XXXX informed me that my loan application would automatically be denied without employment and/or residual income. I then asked to speak w/her supervisor, and was eventually put in touch wXXXX ( NMLS XXXX XXXX. XXXX said she needed time to review my phone call wXXXX, and told me she would get back to me by 5 that afternoon. After hearing nothing by 5, I phoned XXXX to see what she found out. XXXX deferred an answer to later that evening, or @ latest the following day. She committed to escalating the matter to management for further review, and said XXXX XXXX would take over. I asked XXXX why the delay in a decision. She said it was up to XXXX/management to determine whether or not to remove the hard enquiry incurred from my credit file/report. XXXX XX/XX/XXXX : I called XXXX back @ XXXX, after missing her early this afternoon, only to be told that request for removal of the enquiry had been denied.
Frequently Asked Questions
What is Complaint #5039311 about?
Complaint #5039311 was filed against M&T Bank Corporation regarding Payday loan, title loan, or personal loan specifically about Getting a line of credit. It was received by the CFPB on 2021-12-23T12:00:00-05:00.
How did M&T Bank Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against M&T Bank Corporation?
Yes, visit the M&T Bank Corporation company profile at readthecomplaint.com/company/m-t-bank-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.