PNC Can't Dodge Suit Over 'Banker's Interest' Calculation

Law360, New York (May 13, 2013, 3:30 PM EDT) -- A California magistrate judge on Friday kept alive a putative class action brought by an apartment building owner alleging PNC Bank NA used an unfair calculation of the so-called banker's interest rate it charged borrowers that wrongfully hiked rates on commercial loans.

Chief Magistrate Judge Elizabeth D. Laporte of the federal court in San Francisco said in an opinion that the defenses PNC made to the suit filed by the owner of an apartment building in that city were all factual challenges that needed to be...
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