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PNC Bank Faces Mortgage Financing Class Action

Alexandria, VA: A class action lawsuit has been filed alleging violations of federal banking law by PNC Bank, N.A., as successor to National City Bank. The case can be found as case number 1:10-cv-01090-AJT in the Eastern District US district Court, Alexandria, Virginia.

The lawsuit arises from allegations that PNC Bank employed an arbitrary and blanket prohibition against subrogating second mortgages to new or modified senior mortgages secured by non-PNC liens. The complaint states claims for violations of the Bank Holding Company Act’s anti-tying provisions and seeks compensatory, statutory, and treble damages on behalf of PNC Bank’s customers who were precluded from refinancing their first mortgages except on PNC Bank’s terms.

PNC Bank Mortgage Fraud Class Action Legal Help

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Last updated on Mar-24-11