PNC Financial gets DOJ subpoena over payment processors
(Reuters) - PNC Financial Services Group Inc (PNC.N) said it had received a subpoena from the U.S. Department of Justice seeking information about its relationship with certain merchant and payment processor customers.
The subpoena is related to the return rate for customers with whom PNC has a depository relationship, the company said in a regulatory filing on Monday.
"We believe that the subpoena is intended to determine whether, and to what extent, PNC may have facilitated fraud committed by third-parties against consumers," PNC said. (r.reuters.com/jyq37v)
The Pittsburgh-based bank previously disclosed subpoenas issued by the U.S. Attorney's Office for the Southern District of New York over its lending practices related to certain federally backed mortgage loans.
PNC said in August it had received a subpoena from the same office seeking information on claims for foreclosure costs related to the former National City Corp, which PNC bought in 2008.
The bank agreed in December to pay $35 million to settle charges that National City had discriminated against African-American and Hispanic borrowers.
PNC shares were down 1.4 percent at $80.60 in late-morning trade on the New York Stock Exchange.
(Reporting by Aman Shah in Bangalore; Editing by Ted Kerr)
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