DoJ Calls PNC Bank to Answer For Shady Loans & Housing Bubble
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DoJ Calls PNC Bank to Answer For Shady Loans & Housing Bubble

DoJ Calls PNC Bank to Answer For Shady Loans & Housing Bubble

Susanne Posel ,Chief Editor Occupy Corporatism | The US Independent

March 4, 2014

The Department of Justice (DoJ) has subpoenaed PNC Financial Services Group to obtain details concerning their relationship with specific merchants and payment processor customers.

The DoJ Customer Protection Bureau (CPB) stated they were “seeking information concerning the return rate for certain merchant and payment processor customers with whom PNC has a depository relationship. We believe that the subpoena is intended to determine whether, and to what extent, PNC may have facilitated fraud committed by third-parties against consumers.”

This request of the court was initiated because of return rates for customers who were PNC depositors.

The banking institution commented: “We believe that the subpoena is intended to determine whether, and to what extent, PNC may have facilitated fraud committed by third-parties against consumers.”

PNC is being questioned over their loan guarantee deals with the Federal Housing Administration (FHA), Freddie Mac and Fannie Mae.

via DoJ Calls PNC Bank to Answer For Shady Loans & Housing Bubble – Susanne Posel | Susanne Posel.

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2 Responses to "DoJ Calls PNC Bank to Answer For Shady Loans & Housing Bubble"

  1. Lynn Thorniley Bensy
    Lynn Thorniley Bensy  March 5, 2014 at 10:10 am

    Pot calling the kettle black, when it comes to “shady”.

  2. James Smith
    James Smith  March 5, 2014 at 8:08 pm

    yup

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