Feds Probe PNC Over Mortgage Loans, Potential Fraud

Law360, Los Angeles (March 3, 2014, 4:38 PM EST) -- Federal prosecutors in New York have turned their focus to PNC Financial Services Group Inc., asking the company to surrender records on its lending practices for government-backed loans and investigating whether the bank facilitated consumer fraud by merchant and payment processors, the company told investors Monday.

PNC said in a regulatory filing that it has received subpoenas from the U.S. Attorney’s Office for the Southern District of New York regarding National City Bank’s lending practices for loans insured by the Federal Housing Administration, and some information...
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