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National City Corp.

PNC Subpoenaed Over Mortgage Lending Practices

PNC Financial Services Group Inc said it received federal subpoenas about its lending practices in relation to certain federally backed mortgage loans.The two subpoenas from the U.S. Attorney's Office for the Southern District of New York deal with loans insured or guaranteed by the Federal Housing Administration as well as certain non-FHA-insured loan origination, sale and securitization practices, PNC said in a regulatory filing on Monday. ()PNC said the inquiries were in their early stages and the bank was cooperating with the authorities.The Pittsburg-based bank said in August that it had received a subpoena seeking information on claims for foreclosure costs also related to the former National City Corp, which it bought in 2008.The bank agreed in December to pay $35 million to settle charges that National City discriminated against African-American and Hispanic borrowers.PNC has also been served a subpoena by the Department of Justice seeking information on its relationship with c...

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  1. PNC Being Probed On Mortgage Loans By DOJ

    PNC Financial Service Group Inc. is being investigated for faulty mortgage loan pricing related to foreclosure expenses, according to a filing by the firm with the S...

  2. Capital One Appoints Former Regulator, Banker to Board

    Capital One Financial Corp. (COF) is expanding its board of directors with a former regulator and a former commercial banker.The McLean, Va., credit card lender and ...

  3. PNC Names Demchak Chief Executive

    PNC Financial Services Group Inc. (PNC) is promoting President William Demchak to chief executive, succeeding Chairman James Rohr, who plans to retire.Mr. Demchak, 5...

  4. Dumbest Bubble Deals

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  5. Dumbest Bubble Deals

    January 27, 2009 11:06 AM Dumbest Bubble Dealsby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »As rotten mortgages continue to ...

  6. Future of National City?

    Is National City the next to fall?

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