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M&T Bank again faces a backlash in Connecticut

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M&T Bank again faces a backlash in Connecticut


One yr after M&T Financial institution navigated the fallout from layoffs tied to its acquisition of Individuals’s United Monetary, the Buffalo, New York-based firm is once more dealing with a backlash in Connecticut.

The reemergence of tensions within the Nutmeg State stems partially from issues that M&T encountered over Labor Day weekend, when the financial institution was changing Individuals’s United programs onto the M&T platform. The job cuts in Connecticut, first introduced final yr, are additionally drawing renewed scrutiny.

In a letter Wednesday to M&T, Connecticut Lawyer Basic William Tong described numerous complaints that his workplace has obtained from each customers and financial institution workers in reference to the latest programs conversion.

M&T Financial institution dedicated final yr to holding 1,959 Connecticut-based employees, together with 1,000 in Bridgeport, the place Individuals’s United Monetary was based mostly.
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“Prospects have been blocked from on-line accounts and cellphone apps, wait occasions in branches and on the cellphone have been unacceptably lengthy, actual property closings might have been delayed and in any other case difficult, computerized funds have been disrupted, amongst different complaints,” Tong wrote.

“We’ve got heard complaints from workers and former workers that skilled Individuals’s United employees most educated with the banking programs have been sidelined in the course of the conversion.”

Whereas Tong acknowledged that programs conversions sometimes encounter challenges, he additionally wrote: “I share your prospects’ outrage on the severe lack of preparation for this conversion.”

Different Connecticut politicians have been extra subdued of their feedback in regards to the programs conversion. M&T closed on its $7.6 billion acquisition of Bridgeport, Connecticut-based Individuals’s United in April. 

Christopher Rosario, a Democratic state consultant who represents Bridgeport, mentioned that whereas many people reported a seamless switch, a “fairly regular stream of shoppers” are nonetheless having hassle logging into their on-line accounts.

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“Different folks have had points with enterprise banking,” Rosario mentioned in an interview. “That is to be anticipated with massive company mergers.”

A spokesperson for Democratic Gov. Ned Lamont mentioned that M&T has stayed in touch with the governor’s workplace and the state Division of Banking in the course of the merger.

“The administration is intently monitoring M&T’s progress as they convert digital programs,” the governor’s spokesperson mentioned in an e-mail. 

Greater than 90% of Individuals’s United prospects who’ve tried to log in to M&T’s cellular banking platform have been profitable, in keeping with Michael Keegan, govt vice chairman and head of neighborhood markets at M&T.

“The overwhelming majority of individuals had an excellent expertise by way of the conversion,” Keegan mentioned in an interview. “However we’re nonetheless centered on the ten% that have not. That is the place we’re focusing our time now, ensuring these persons are efficiently on board.”

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Conversions of digital programs following financial institution mergers usually encounter snags, sparking buyer frustration.

After Truist Monetary accomplished a expertise integration in February, some prospects confronted delays in accessing money and utilizing new debit playing cards, and encountered lengthy waits for customer support.

Complaints towards the Charlotte, North Carolina, financial institution have been up 81% in March in contrast with January, in keeping with Shopper Monetary Safety Bureau information.

Tong, a Democrat elected as legal professional normal in 2018, wrote to M&T in August 2021 expressing concern in regards to the financial institution’s plans at the moment for 747 layoffs in Connecticut.

Later, M&T made sure commitments in regards to the dimension of the workforce that it deliberate to take care of in Connecticut. The financial institution mentioned that it could preserve 1,959 Connecticut-based employees, together with 1,000 workers in Bridgeport.

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In his letter Wednesday, Tong said that his workplace has heard about Individuals’s United workers who’re being retained, however in positions that pay considerably much less. He additionally wrote that his workplace has been instructed about jobs being relocated from elsewhere in Connecticut to Bridgeport with a view to fulfill the financial institution’s dedication to make use of 1,000 folks in the neighborhood.

Moreover, Tong mentioned that his workplace has obtained complaints from laid-off workers who say they haven’t gotten well timed details about severance funds, trip payouts and extra.

Keegan mentioned Friday that M&T’s pledge to take care of 1,959 Connecticut-based workers, together with 1,000 based mostly in Bridgeport, “stays our dedication.”

“We need to proceed to develop and wish gifted workers to do it,” Keegan mentioned.

Of the 747 Individuals’s United workers notified about layoffs final yr, a “small proportion” misplaced their jobs after the deal closed in April, whereas others left on the conversion and “some will stay” for the subsequent three months, Keegan added.

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In his letter to the $204 billion-asset M&T, Tong posed a sequence of questions on each job cuts and the programs conversion, and he requested a gathering with M&T officers to debate the considerations. A gathering is anticipated to be held within the coming days.



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Connecticut

Connecticut man dies nine days after being struck by car in Wall

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Connecticut man dies nine days after being struck by car in Wall



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WALL – A 64-year-old Connecticut man has died from injuries suffered when he was struck by a car on Route 35 Nov. 9, police said.

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Michael Losacano, of Niantic, Connecticut, passed away on Nov. 18 at Jersey Shore University Medical Center in Neptune, police said. Losacano was hit by a Ford Explorer being driven southbound on the highway near Wall Church Road by a 72-year-old Farmingdale man at about 6:42 p.m. Nov. 9, according to police.

Losacano was taken to the hospital by Wall Township EMS. The accident is still under investigation and police did not reveal the name of the Explorer’s driver.

The accident is being investigated by Wall police Sgt. Andrew Baldino, the Monmouth County Serious Collision Analysis Response Team (SCART), and Detective Nicholas Logothetis of the Monmouth County Prosecutor’s Office.

Anyone who witnessed the collision or who has information relevant to the investigation is asked to call Wall police at (732) 449-4500.

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Jean Mikle: @jeanmikle, jmikle@gannettnj.com.



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On CT Adoption Day, 40 children find their forever homes

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On CT Adoption Day, 40 children find their forever homes


Judge Matthew Larock asked Ryan Soto if he had a statement to make. Soto was sitting next to 11-year-old Gabriel in a Torrington court room on Friday, finalizing his adoption.

Soto stood up and turned toward the gallery. The courtroom benches were filled with family members and case workers from the state Department of Children and Families, wearing proud smiles. This was a good day.

First, Soto thanked the many people who had helped make the adoption a reality. Then, he looked at his son.

“Gabe, I am honored that you came into my life. You are such an intelligent, kind kid. Thank you for making room in your heart for me as your dad, because we all have options here,” Soto said. Then, Soto addressed the rest of the room, and even the imagined audience that might be listening beyond:

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“There’s so many kids out there and a lot of older youth, they need help, and oftentimes we forget that they are still kids. They still yearn for love and family. So, we can make a difference. I didn’t do this alone — we made a difference in Gabe’s life.”

Ryan Soto addresses the courtroom gallery on Friday during his son Gabriel’s adoption ceremony in Torrington. Credit: Laura Tillman / CT Mirror

Soto gave Gabriel a kiss on the forehead and took a seat.

Gabriel was one of 40 children who were adopted across Connecticut on Friday, CT Adoption Day. DCF spokesman Peter Yazbak said that around 350 children are expected to be adopted this year in Connecticut.

DCF Commissioner Jodi Hill-Lilly joined the ceremonies in Torrington on Friday, with balloons, toys and cake to celebrate. Once Soto finished his comments, Hill-Lilly said a few words.

“What a tribute. I just personally want to say thank you for stepping up and doing what I consider to be God’s work,” Hill-Lilly said. Hill-Lilly urged other families to consider taking on a fostering role.

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“I would be remiss if I didn’t say you too can be an adoptive or a foster parent,” Hill-Lilly said.

After the ceremony ended, Soto shared a little more of his journey to adopting Gabriel. As a gay man who wanted to be a dad, “for obvious reasons it wasn’t happening naturally.” So, he started considering fostering a child to adopt, and imagined a kid under 5 years old.

But then, DCF sent him Gabriel’s profile, a 9-year-old looking for a forever home. “I said why not? Let me give him a chance.”

There were challenges. Gabriel had a hard time building trust with Soto, and sometimes grated against his rules. Those, Soto said, are typical challenges with older kids. “But when that wall comes down, it’s a big wall.”

That wall started to come down when Soto attended an awards ceremony at Gabriel’s school. “He was able to count on someone to be there, and I think from there he started trusting — trusting that somebody could care,” Soto said.

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Gabriel is still in contact with his biological family. His 4-year-old half-sibling, Elias, who had been adopted by another family, was also present at the event.

DCF has made a major effort in recent years to place children with relatives if they can’t remain with their birth parents. That means the number of children eligible for adoption to non-biological families has gone down. But there remains a bigger need for foster parents who are willing to serve as temporary placements for children who may need a home until they can return to their families.

DCF Commissioner Jodi Hill-Lilly speaks to the gathering at an adoption ceremony on Friday in Torrington as little Corrina explores the courtroom. Credit: Laura Tillman / CT Mirror

Natalia Liriano, the director of foster care for DCF, said that many of the children who do need adoptive homes may be older children, or children with significant health issues. People can learn more about those kids by visiting the DCF Heart Gallery page.

“We’re talking about teenagers who can give you a run for your money but they still need love and they still are deserving of being in relationships, children with medically complex needs who need to be in longstanding relationships,” Liriano said.

Earlier on Friday, 1-year-old Corrina was adopted by mom Michelle Gonzalez. Corrina, dressed in a pink tutu, took to the courtroom like a massive play area. She batted at the heart-shaped balloons, smiled at reporters, enjoyed bites of cake, and hugged her mom when it all got to be too much.

When the ceremony was over, Richard Federico, a judicial marshall walked through the court room, taking in the happy faces and tutu-clad toddler.

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“This is probably the best thing to happen here,” he said.



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Connecticut man dies after being struck by SUV while crossing busy N.J. highway, police say

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Connecticut man dies after being struck by SUV while crossing busy N.J. highway, police say


A 64-year-old Connecticut man died this week after he was struck by a car while crossing a busy Monmouth County roadway earlier this month, authorities said.

The man, identified Friday as Niantic resident Michael Losacano, was hit shortly after 6:30 p.m. on Nov. 9 on State Highway 35 in Wall Township near Wall Church Road, according to a statement from the Wall Township Police Department.

Losacano was taken to Jersey Shore University Medical Center by local EMS where he died on Monday, the department said.



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