Pittsburgh-based PNC Bank, which supports predatory that is high-cost loan providers, now would like to purchase Riggs Bank, which can be embroiled in a cash laundering scandal involving, and others, Pinochet of Chile, the oil dictator of Equatorial Guinea, in addition to Saudi Arabian embassy. Inner City Press / Fair Finance Watch has filed opposition to PNC's application for regulatory approval, covered (begrudgingly) within 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, into the Federal Reserve and OCC, According to Unresolved Riggs Issues, PNC's Lending Disparities and PNCвЂ™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 obtain the scandal-plagued Riggs nationwide Corporation. The proposed acquisition, 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 regarding the Office associated with Comptroller associated with Currency may also be needed. ICP's feedback, filed because of the FRB and OCC, consist of proof that PNC funds payday lenders such as Check nвЂ™ Go of Washington DC, Inc.