PNC Financial Services Group Inc., the sixth-largest U.S. bank by deposits, will cut 621 jobs in North Carolina and reassign some of the affected employees after buying Royal Bank of Canada’s U.S. assets.
Tom Axon’s mortgage-collection firm gets about 25 calls a day from delinquent homeowners’ brokers seeking approval to sell their houses for a loss and avoid foreclosure. We’ll help, his staff tells them, as long as we get paid enough.
Comedian Lynn Moore and her husband, retired pro wrestler “Cougar Jay,” were on the verge of losing their St. Augustine, Florida, home when PNC Financial Services Group Inc. ’s foreclosure hearing was canceled last month.
U.S. banks led by JPMorgan Chase & Co. and Wells Fargo & Co. have bought a record amount of municipal debt. That demand is now at risk under a Federal Reserve proposal that excludes local bonds from a list of easy- to-sell assets.
PNC Financial Services Group Inc. was on the brink of selling Jim Durden a foreclosed house in Weed, California, last month when the country’s biggest banks came under public fire for improperly seizing homes. Now, he lives in an EconoLodge .