M&T Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
M&T Bank pledges at least 1,000 jobs at People’s United headquarters
Company response
After job cuts disclosed in a state labor department filing prompted concern from elected officials, M&T Bank pledged to employ at least 1,000 people within a year at People’s United Bank’s Bridgeport headquarters. The pledge was made in a letter to Connecticut Attorney General William Tong.
Company response
Clarification — M&T Bank
The letter Thursday from M&T’s chairman and chief executive Rene F. Jones sought to clarify the depth of those cuts and how they fit into the larger picture of the $7.6 billion merger announced in February.
Source excerpt
M&T Bank pledged Thursday to employ at least 1,000 within a year at the Bridgeport headquarters of People’s United Bank after acquiring one of Connecticut largest lenders and combining operating systems of the two banks.
The labor department filing disclosed that 747 jobs — 661 of them at the People’s United’s Main Street headquarters — were on the chopping block. Elected officials said they were taken off guard, having understood job loss would be minimal.
The letter Thursday from M&T’s chairman and chief executive Rene F. Jones sought to clarify the depth of those cuts and how they fit into the larger picture of the $7.6 billion merger announced in February.
2020
M&T Bank settles EEOC disability discrimination lawsuit
Settlement
M&T Bank agreed to pay $100,000 and provide equitable relief under a three-year consent decree to resolve an EEOC disability discrimination lawsuit. The EEOC alleged that the bank failed to accommodate a branch manager with a pregnancy-related disability and discharged her; a federal judge had granted summary judgment on the reasonable accommodation claim.
Company response
Remediation — M&T Bank
The bank must create a non-competitive procedure so that a qualified employee returning from work after an extended leave of absence due to a disability and whose job has been replaced may be reassigned to a vacant position as a reasonable accommodation.
Source excerpt
BALTIMORE - Manufacturers and Traders Trust Company, doing business as M&T Bank, will pay $100,000 and provide significant equitable relief to resolve a federal disability lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today.
The bank must create a non-competitive procedure so that a qualified employee returning from work after an extended leave of absence due to a disability and whose job has been replaced may be reassigned to a vacant position as a reasonable accommodation.
On Sept. 10, 2019, U.S. District Court Judge Ellen L. Hollander granted summary judgment on the EEOC's reasonable accommodation claim, finding that the manager had a disability within the meaning of the ADA and that she was entitled to non-competitive reassignment to a vacant position for which she was qualified as a reasonable accommodation.
2014
Perry Hall branch money-laundering case
A federal judge ordered M&T to forfeit $560,000 that had been laundered through its Perry Hall, Maryland, branch. The conduct involved cash conversions and failure to file required currency-transaction reports under the Bank Secrecy Act.