Customers at PNC Financial Services on Tuesday were unable to access their online and mobile banking accounts for several hours because of an unspecified issue with the company’s technology.
At about 10 a.m., PNC announced on Twitter that it was having problems with its digital banking platforms. No additional details were provided, though the Pittsburgh company said in a separate tweet that its ATM and branch network were available for customers who needed to make deposits and withdrawals.
“We are currently experiencing a technology issue which may intermittently impact customer access to online banking,” the $371 billion-asset PNC said in a statement posted on its website. “Our teams are working to restore full access as soon as possible.”
Shortly before 2 p.m., PNC announced on Twitter that the problem had been resolved, describing it as an issue with the company’s hardware.
A spokeswoman for the company said the issue, which emerged “early this morning,” affected both retail and commercial customers. She declined to provide additional details about the nature of the hardware problem.
The outage is the latest in a string of recent tech glitches affecting big banks across the industry. Earlier this month, a group of customers of Simple — the online banking upstart owned by BBVA Compass — were unable to access their balances or view their recent transactions.
Similarly, JPMorgan Chase customers in May were temporarily prevented from making online and mobile payments because of unspecified problems with the company’s technology.
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
The ruling lets state Attorney General Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.
The e-commerce giant has added payment and credit products, though it faces heavy competition from banks and other tech firms. Also, Stripe's layoffs and other news from the world of payments.
Mercantile Bank Corp. in Grand Rapids achieved a 20% increase in deposits in 2024, an amount that was ample enough to fund robust loan growth and scale back reliance on costlier wholesale funding.
The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.
The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.