PNC May Face Federal Suit Over Its Mortgage Practices

Law360, New York (August 8, 2013, 6:33 PM EDT) -- PNC Financial Services Group Inc. is potentially facing a lawsuit by the government over allegedly discriminatory mortgage loan pricing practices, as well as a federal probe over its foreclosure practices, it revealed Thursday.

According to the company's quarterly financial report, the Consumer Financial Protection Bureau and U.S. Department of Justice's Civil Rights Division and notified it in June that they had launched a joint investigation into the bank. The probe is meant to examine whether mortgage pricing practices by both PNC Bank NA and the former...
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