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PNC Financial Services Group (PNC) has agreed to pay $90 million to settle a class-action lawsuit relating to its overdraft protection practices.
June 26 -
With branches becoming more like expensive billboards, banks are searching for lower-cost ways to maintain visibility in existing markets and raise their profiles in newer ones.
March 19
PNC Financial Services (PNC) has completed an initiative to upgrade 3,600 ATMs across all of its regions.
The "smart" ATMs can accept check and cash deposits, a feature the Pittsburgh company calls DepositEasy, and account for roughly half of PNC's 7,200 ATMs nationwide, the company announced in a press release Wednesday. PNC began rolling out the new features in 2012 with the goal of providing almost every branch with at least one DepositEasy ATM, PNC spokesman Patrick McMahon said in an interview.
The enhanced ATMs allow customers to deposit cash and checks without envelopes, print receipts with photographs of the checks they deposit, make same-day deposits before 9 pm EST, and request $1 bills along with $10s and $20s. They also let customers set customized ATM preferences, such as their typical withdrawal amount and the type of ATM receipt they like to receive option, through their online banking account.
"Customers want the option to bank when and where they want, and
Before the ATM upgrades were completed, deposits made through ATMs and mobile apps increased to 23% of PNC's total deposits in the second quarter, compared to 14 percent last year.
PNC, which has $290 billion in assets, agreed to pay $90 million to
