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Pittsburgh-based PNC Bank, which supports high-cost predatory payday loan providers, now really wants to purchase Riggs Bank, which can be embroiled in a cash laundering scandal involving, amongst others, Pinochet of Chile, the oil dictator of Equatorial Guinea, while the Saudi Arabian embassy. Inner City Press / Fair Finance Watch has filed opposition to PNC’s application for regulatory approval, covered (begrudgingly) when you look at the Pittsburgh Post-Gazette plus in greater level on www.innercitypress.org/finwatch.html
Inner City Press / Fair Finance Watch Files Challenges to PNC’s Applications to Acquire Scandal-Plagued Riggs nationwide Corporation, to your Federal Reserve and OCC, considering Unresolved Riggs Issues, PNC’s Lending Disparities and PNC’s Funding of Predatory Payday Lenders
The customers’ and community company Inner City Press
/ Fair Finance Watch (ICP) has filed two 21-page challenges to applications by the PNC Financial Services Group to get the Riggs National that is scandal-plagued Corporation. The acquisition that is proposed for $779 million, had been established on July 16; now a credit card applicatoin for regulatory is pending during the Federal Reserve Board, the approval for the workplace of this Comptroller regarding the Currency can also be needed. Continue reading “PPittsburgh Independent Media Center Pittsburgh-based PNC Bank, which supports”