Congressman Wants PNC-Nat. City Deal Investigated

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Realize I'm a little late to this blog, but some things are beginning to show up that may shed some light on the corruption within NCB, not that it will do any good for those of us who have been taken.
http://www.bizjournals.com/stlouis/print-edition/2011/04/15/shaun-hayes-faces-lawsuit-from-another.html
http://www.bizjournals.com/stlouis/news/2011/04/13/ceo-shaun-hayes-leaves-sun-security-bank.html
http://idea6.adxinteractive.com/developers/
It seems, though apparently is impossible to prove due to insider cover up and undocumented verbal fraud used, that bankers at NCB may have been using their position to make loans on commercial property, deliberately slow and then stop funding, have their foreclosure attorney foreclose under "at will" clauses, then buy up the valuable property through other investment entities at pennies on the dollar.
In order to keep developers and contractors from being able to sue, it appears that false allegations may have been made, fraudulent calls to other banks and entities with related interests informed of those false allegations to get them to act against the property owners and contractors, and other verbal threats carried out, all designed to ruin the ones being taken from being able to sue the bank. These apparent schemes have ruined small businesses, individuals, cost hundreds of jobs, and looted the bank itself. The buyout of that bank by PNC with TARP funding covered up the piracy and conspiracies by making these loan liabilities the responsibility of the FDIC, creating doubts that expensive lawsuits against the bank costing hundreds of thousands of dollars, even when won on principle, would ever result in the payment of judgment dollars, and scaring off lawyers from taking the case on contingency.
It appears that the political connections of these schemers prevent the federal regulators from investigating in depth, while hundreds of people of honesty and integrity have been ruined to line the pockets of the conspirators.

anne3 of MO 9:24AM April 25, 2011

To all PNCers. It's just a matter of time. Our company, just like you all have your stories of theft and indiscretions, illustrate their weakness. The market will see how weak this company truly is, and that they operate like street thugs. Business starts on the street level. I smell this house of cards collapsing and I am watching for the right time to short this stock, as they are ripe for "big adjustments". A complete collapse of this company will happen, I just feel sorry for the National City employees that new what customer service was all about

branjaye of IL 8:34PM August 17, 2010

They will get you get caught up in continuous overdraft fees. They say payday company s will rip you off but this bank’s procedures are worse. I had three check go through I was 23 cents short on the 3 check so they put that check through first and bounced the other two because they added on a $37 bounce fee. So being 23 cents short cost me $111 in overdraft fees. They notified me by mail so I went in to clear it up. I told them I checked my account and the $9.00 and $6.00 should have gone through. They were pending the day before. They replied that they got the 3rd check the next day and they put that one through first. I said why the other two came in first. Their reply was because they can. We always put the highest dollar amount through first because we figure its more important and we figure it may be your rent. I said my rent is not $32.23 from a gas station. the bank personnel just laughed. So I continued what difference does it make I have overdraft protection so your going to put all of them through anyway. I was told that was their policy. So I just said to heck with it I'll just pay it and mark it up to a lesson learned. So I gave them the $111 and the $14.23 for the other 2 checks and the 23 cents I was short. I was then informed it would cost me another $24 for continuous over draft fees. I explained to her that the $125.23 was all I had till payday and I didn't get paid until late Friday after the banks closed and it was only Tuesday. She said that's okay. I left feeling Saturday this nightmare would be over. I went in first thing Saturday morning with my $24 dollars and handed it to them relieved that I was done with this nightmare. The teller looked at me I handed her the deposit slip and $24 dollars and said finally I'm caught up. She just looked at me holding the money in her hand and said. it's going to take $64 to bring your balance to a 0 balance. I was shocked I had explained to them being a single mother working part time and money is scarce and they told me it was okay but never mentioned there would be more charges. I'm thinking wait I am paying $8.00 a day on their continuous overdraft fees. I had already given them the money for the checks and the initial overdraft fees. So, long story short, being 23 cents short had just cost me $175 dollars. Stupid gas pumps for running over. I now prepay for my gas so the
pump will not go over.

dmmomof5 of IL 2:39PM May 19, 2010

The only mentality of any merrit from the words of Bill Connelly are God Bless America. He has attempted to shame several individuals of many banks for his own attempts to defraud, cheat and steel. We could write a novel on this mans life of cheating city's, States and individuals taxes. But please do not waist your minds thoughts on an individual who cares of no one but his own agenda...
Banks we know have one agenda and thats their bottom line. Unfortunately, although we are suffering due to this failing strategy, we are all guilty of prospering from the same strategy when it worked. NIK

NiK Kaoukis of NJ 1:32PM April 24, 2009

You are right he had an agenda. He tells his employees not to jump ship after he screws Cleveland, the employees and the shareholders. But it gets better. He quits effective dec.31. and the employees find out that he changed their severance package to screw them right before the sale and he makes sure his parachute is fully open at 21 million! happy holidays Peter

frances of OH 8:56PM December 04, 2008

First off, National City was no where near going out of business. I agree that this whole thing with PNC WAS orchestrated buy the media and the government as well. Why does the media insist on invoking fear in the American public? MAybe if they would do a little more research on these things instead of just lookig to up their ratings....

NCC EMPLOYEE of OH 3:32PM October 31, 2008

I would just like say first off this is the most ridiculous deal i have ever seen proposed, ever! I am an employee of national city for 4 years, and have given my all to that company, and so have all our other employees. We are by far a better bank, a better environment, and treat our customers ten fold the way pnc operates. For the past year i have seen our stock go from 34 a share to 2 a share. what do the national city employees get out of this, nothing!!!! All we got was a frustrating year(in which we still have brought more net new deposits than pnc and more households in pittsburgh). The employees have given their all while our wonderful ceo Peter Raskind sells a company off for 5 billion when its worth three times that, but what does he care, he gets 8 million and still gets to keep a high profile job continuing to make millions. Its just another prime example of our gov't doing such a great job stealing all the little peoples money. i cant wait till Barack Obama gets in office, so you "rich" folk start to pay finally instead of getting richer the past 8 years while us working middle class have seen nothing but people losing jobs, losing their houses, and their sanity. this is just another prime example of republican politics, lets get richer while we watch everyone else scrape to live.

national city employee of PA 12:17PM October 31, 2008

This PNC buyout of National City Bank stinks. How is possible for a regional bank with reasonable capitalization to be purchased by another regional bank with similar capitalization using funds given to it by the Federal Government. It is especially troublesome when we see that PNC is paying below the stock price for control of National City. How can this be? How does National City's management and board justify a deal like this. I don't know how this kind of deal gets shareholder approval. National City Bank has lost over 92% of its value. They sell off assets in order to increase capital and then sell what remains for a bargin basement price. It does shout out for someone to look at this deal and answer why it makes sense. It also cries out for someone to watch very closely what type of buyouts the existing National City Bank Management gets. Will there be any AIG type golden parachutes? I find it hard to believe the PNC offer was the best offer National City could have gotten.Remember the Wells Fargo deal?
I am a shareholder and I can assure you I will be looking very hard for answers.

Joe Novello of MI 4:55PM October 30, 2008

It is a hostile take over orchestrated by our own government! It is a sad day for our country when a bank that has withstood this country's financial crises for over 160 years is acquired by a smaller bank. Raskind is quite the actor, choking emotionally as he told employees of the sale, knowing full well that the vast majority of NCB employees will soon be unemployed. As he tearfully made the announcement, he knew he had negotiated a multi-million dollar golden parachute and secured a vice chair position for himself. For months NCB employees were told to hang on and stand tall and we did. We jeopardized our careers and families believing we are doing the right thing for NCB. We have all lost 401K $$ and will be in the nation's swelling unemployment line. I demand an investigation.

of KY 9:03AM October 30, 2008

Why isn't THIS making the national news?? This should be more than one congressman calling for answers. For months I have been trying to get answers from National City Bank about their financial status and always told "everything is fine". Well, being a loyal American and having lived long enough to see what greed can do, I knew problems were coming for NCC.
The entire bailout stinks and PNC should be investigated for it's part in this fiasco. What ever happened to "conflict of interests"?
It seems we have no more leaders in our government who really care about what is happening to our once great country. At least there is ONE congressman who seems to have a conscience and I will be watching for further news on his endeavor.

Disgusted of KY 3:33PM October 29, 2008