Q: 4/2/24_M&T Bank deliberately posting an dishonest, mislead deposit transaction. I wrote M&T 3 times,
I received responses from "Customer Advocacy. Who upheld the decision to keep the deposit documented. I deposited my check from my pension fund. Originally the check was drawn from ICRMA. However, I held on to it so long, they wrote me and told me that I would have to have to get re-issue check. I asked if I could resend the check request and was told know.(because of limited space I can't explain all of that) Any I had check re-issued, but I didn't notice that it was now drawn on Vantagepoint Transfer LLC. I deposited the check which now shows as simply DEPOSIT.$40,000. which makes it appear as if I deposited cash. I disputed it, but M&T upheld their decision to leave as posted. As I am going through many challenges this poses legal problem when a transaction shows up as just "Deposit" without a source. I contacted CFPB to no avail. Do I have any rights regarding this transaction? Yes I have a copy of check, but that is not the issue. Not enough space to explain.
A:
Based on the information you've provided, it seems that M&T Bank's posting of the deposit transaction as simply "DEPOSIT $40,000" without indicating the source of the funds is causing you legal concerns. While I understand your frustration, it's important to note that banks have some discretion in how they choose to display transaction details on statements and online banking platforms.
However, you do have the right to accurate and transparent banking records. Here are a few steps you can consider taking:
1. Escalate the issue within M&T Bank: If you haven't already, try contacting a higher-level manager or the bank's executive office to explain your concerns and request a more detailed description of the transaction on your statement.
2. Obtain and keep documentation: Ensure that you have copies of the check, correspondence with ICRMA and Vantagepoint Transfer LLC, and any communication with M&T Bank. These documents can serve as evidence of the transaction's legitimacy if needed.
3. Consider filing a complaint with other regulatory bodies: While you've already contacted the CFPB, you might also consider reaching out to your state's banking regulator or the Federal Reserve's Consumer Help department.
4. Seek legal advice: If you believe that the lack of transaction details is causing you significant legal problems, consider consulting with a lawyer who specializes in banking or consumer protection laws. They can provide guidance on your rights and potential legal remedies.
Remember, while the bank may have the right to display the transaction as they see fit, you also have the right to request more accurate and detailed records, especially if the current display is causing you legal issues.
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