M&T Bank has agreed to compensate former People’s United Bank customers for any financial setbacks they may have suffered as a result of converting their accounts to a new computer system over Labor Day weekend.
News of the M&T’s commitment came Thursday as U.S. Senator Richard Blumenthal and four of his New England colleagues issued a joint statement praising the bank’s written commitment to compensated customers. Blumenthal – as well as Sens. Patrick Lahey and Bernie Sanders of Vermont along with Elizabeth Warren and Edward Markey of Massachusetts – called the Buffalo, N.Y.-based bank’s commitment to offer compensation “a welcome step to making things right” following disruption for some customers.