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Blumenthal Statement on Reports of Layoffs at the People's United Bank

[WASHINGTON, D.C.] – U.S. Senator Richard Blumenthal (D-CT) issued the following statement after it was reported that hundreds of employees at the People’s United Bank would be laid off when the bank is acquired by M&T Bank:

“These reported massive layoffs dramatically threaten the livelihoods of thousands of Connecticut families and directly contradict statements made by the banks when announcing the merger. I am deeply alarmed. I am demanding additional information from the banks and considering seeking federal and state regulatory action. Bank mergers already have taken a toll on jobs and competition in Connecticut and nationwide.”