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Violation Tracker Individual Record

Company: National City Bank and its successor PNC Bank
Current Parent Company: PNC Financial Services
Penalty: $35,000,000
Year: 2013
Date: December 23, 2013
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: discriminatory practices (non-employment)
Mega-Scandal: Discriminatory Lending Practices
Violation Description: The Consumer Financial Protection Bureau and the Department of Justice filed a joint complaint against National City Bank for charging higher prices on mortgage loans to African-American and Hispanic borrowers than similarly creditworthy white borrowers between the years 2002 and 2008. The agencies also filed a proposed order to settle the complaint that required National City Bank, through its successor PNC Bank, to pay $35 million in restitution to harmed African-American and Hispanic borrowers.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Pennsylvania
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.