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PNC Financial Services (PNC) has completed an initiative to upgrade 3,600 ATMs across all of its regions.
August 28 -
But the consulting firm says the sector remains an integral part of the U.S. financial system and cautions against overregulating it.
May 30 -
Wells Fargo will pay more than $6.5 million to settle claims with the Securities and Exchange Commission that its brokerage firm and a former executive did not properly disclose risks related to investments tied to mortgage-backed securities.
August 14 -
A probe into PNC Financial Services' mortgage lending is stoking fears that regulators are preparing to crack down on other large banks for alleged loan discrimination ahead of a Supreme Court case that might curb the use of the controversial "disparate impact" theory.
August 13 -
Regulators are examining loans originated by National City, which PNC bought in 2008, suggesting they might have been priced to have a "disparate impact" on minority borrowers.
August 8
PNC Financial Services Group (PNC) has begun winding down Market Street Funding, an
The decision was spurred by liquidity coverage requirements
PNC, based in Pittsburgh, has administered Market Street Funding since 1995. PNC said that it will continue serving clients' securitization needs through its asset-backed finance business.
Market Street Funding had $5.9 billion of commercial paper outstanding at the end of the second quarter, according to the SEC filing. PNC plans to pay for the vehicle's commitments and outstanding loans through "diversified funding sources," according to the filing.
PNC said the wind-down, which it expects to have no meaningful impact on its financial condition, should be completed by the end of the fourth quarter.