Regulator Dismisses Congressman's Allegations

Dugan calls lawmaker's suggestion "baseless."

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A day after his ties to PNC Financial Services Group were called into question by a Republican lawmaker, Comptroller of the Currency John Dugan released the following letter.

In it, the bank regulator calls Ohio Republican Rep. Steve LaTourette's suggestion that his decisions regarding PNC's recently announced plan to acquire National City Corp were influenced by his past dealings with the Pittsburgh bank "baseless."