In 2013, The CFPB and the Department of Justice reached a settlement with PNC Financial Services Group, successor to National City Bank regarding allegations that “between 2002 and 2008, more than 76,000 black and Hispanic borrowers paid higher costs because of National City’s pricing and compensation scheme.” PNC agreed to pay $35 million to settle the charges.

• “PNC Financial Services Group agreed to pay $35 million to settle charges with the Department of Justice and the Consumer Financial Protection Bureau over allegations that the former National City Bank systematically overcharged black and Hispanic mortgage borrowers.” [Justine Coyne, “PNC agrees to pay $35M in National City discrimination case”, Baltimore Business Journal, 12/23/13]

• “The agencies allege that between 2002 and 2008, more than 76,000 black and Hispanic borrowers paid higher costs because of National City’s pricing and compensation scheme. The settlement, which requires court approval, only applies to loans made by National City, and not PNC’s mortgage lending arm.” [Justine Coyne, “PNC agrees to pay $35M in National City discrimination case”, Baltimore Business Journal, 12/23/13]