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Implementation has been slow going for the Banking Industry Architecture Network. But PNC says the framework is already helping the bank achieve some important IT goals, and could help the industry adapt to the cloud computing era.
February 6 -
PNC first tested one of the small, temporary branches loaded with technology in Atlanta, and Georgia chief Eddie Meyers wants to bring to bring back more as part of a diverse branching strategy that balances personal service and efficiency.
June 19 -
Suggestions that Apple Pay is unusually vulnerable to fraud were quickly refuted this week. The fact remains, though, that extra care is needed when verifying cards for Apple's mobile wallet.
March 5
PNC Financial Services Group in Pittsburgh may have to pay $390 million, including $35.5 million in punitive damages, for the role an acquisition had allegedly played in a major fraud scheme.
A U.S. District Court jury in St. Louis ruled against the $345 billion-asset company Tuesday because of its connection to a funeral insurance company called National Prearranged Services, which regulators shut down in 2008. NPS employees, several of whom have been found guilty of fraud, allegedly raided company funds that consumers and funeral homes believed to have been in a trust fund managed by Allegiant Bank until 2004.
Guaranty associations from 28 different states covered costs for funerals and were represented by the National Organization of Life & Health Insurance Guaranty Associations in the suit, which was led by the designated receiver for NPS and a law firm representing the Texas Department of Insurance.
