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Regulators are examining loans originated by National City, which PNC bought in 2008, suggesting they might have been priced to have a "disparate impact" on minority borrowers.
August 8 -
PNC said in a SEC filing Wednesday that it will record nearly $500 million in charges in the fourth quarter, more than half of which are related to its repurchase of troubled mortgage loans it had previously sold to Fannie Mae and Freddie Mac.
January 9
PNC Financial Services Group (PNC) in Pittsburgh has agreed to pay $89 million to Freddie Mac in order to resolve repurchase obligations on loans sold to the government-sponsored entity.
The $298 billion-asset PNC
PNC
PNC said that the amount of the settlements had been fully accrued as of Sept. 30.
Both settlements must still be approved by the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac.