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PNC to Pay at Least $24M to Settle Acquired Bank’s Lawsuit | News

PNC Financial Services Group will pay at least $24 million to settle class-action claims that a Virginia bank it acquired charged excessive fees and kicked back money to a mortgage broker for customer referrals. The settlement first reported Tuesday by the Pittsburgh Tribune-Review is detailed in documents filed in U.S. District Court, Pittsburgh. It stems from claims filed …


PNC Financial to Settle Acquired Bank’s Home Loan Lawsuit

The PNC Financial Services Group, Inc. PNC has agreed to pay atleast $24 million to settle a class-action lawsuit against Community Bank of Northern Virginia. The Community Bank was purchased by Mercantile Bankshares Corp. in 2005, a year before PNC Financial acquired the Baltimore-based Mercantile. The company, thereby, assumed the on-going lawsuit against the bank.