PNC Financial Services Group, Inc. Rotten Score Breakdown

PNC Bank agreed to pay $9.5 million to settle False Claims Act claims involving loans guaranteed by the U.S. Small Business Administration. DOJ alleged PNC failed to follow prudent lending standards, leaving the United States obligated to cover losses when federally backed loans defaulted. Source: https://www.justice.gov/usao-md/pr/pnc-bank-pay-95-million-failing-engage-prudent-underwriting-practices-loans-guaranteed-us

PNC Bank agreed to pay $7.1 million to settle False Claims Act claims that it failed to engage in prudent underwriting on loans guaranteed by the Small Business Administration. PNC also agreed to corrective action. Source: https://www.justice.gov/archives/opa/pr/pittsburgh-based-bank-pay-us-failing-engage-prudent-underwriting-practices-sba-loan

The U.S. Trustee Program documented PNC remediation of approximately $4.869 million in credits and refunds to more than 14,000 borrowers for failures involving notices of payment changes and fees, final accountings, delayed escrow handling and payment-application errors during bankruptcy cases. Source: https://www.justice.gov/ust/national-creditor-settlements