By Akanksha A. Panicker
PNC Financial Services Group, Inc. (abbreviated as PNC) is a financial services holding firm headquartered in Pittsburgh, Pennsylvania. PNC Bank, the company’s banking division, has a wide-ranging reach across the nation, with over a thousand outlets and nine thousand ATMs in twenty-one states and the District of Columbia. Additionally, the firm offers investment services including money control, investment management, succession planning, debt servicing, and information technology.
PNC is ranked among the biggest banks in the United States in terms of assets. It is the fifth-largest bank in terms of branch count, sixth largest in terms of deposits, and fourth-largest in terms of ATMs. The initials ‘PNC’ refer to the bank’s two parent companies: Pittsburgh National Corporation and Provident National Corporation, which combined in 1983.
[1.0] PNC’S SUBSIDIARIES
PNC has four reportable business segments, being [A.] Retail Banking, [B.] Corporate & Institutional Banking, [C.] Asset Management Group and [D.] BlackRock. However, in May 2020, the company sold its stake in BlackRock.
- RETAIL BANKING
PNC Bank offers consumer and business banking services across its many branches. PNC is one of the largest Small Business Administration lenders.
- ASSET MANAGEMENT GROUP
PNC Asset Management Group (AMG) offers institutional asset management and investment management services to high-net-worth entities and currently administers about $282 billion in assets, of which $151 billion is controlled personally under direct management. PNC Wealth Management is also a major wealth management company in the United States, managing around fifty billion USD in private client funds. Hawthorn Family Wealth offers fund management services to family offices with a net worth of more than USD twenty million and actively manages over thirty billion in assets.
PNC has over two hundred billion in outstanding loans, including in commercial loans and in consumer loans.. PNC usually provides lending by [A.] credit cards, [B.] Business Credit which pertains to provides asset-based lending to private equity firms and middle-market companies from offices in the United States, Canada, and the United Kingdom, [C.] Corporate and Institutional Banking (Harris Williams & Co,) which is a major treasury management business as well as an arranger of asset-based loan syndications in the United States, [D.] residential mortgages and [E.] auto and student loans. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit.
The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained, or held on our balance sheet. Brokerage, investment management, and cash management products and services include managed, education, retirement, and trust accounts.
PNC Mortgage (formerly National City Mortgage) is credited for pioneering the mortgage industry in the United States with providing the first-ever mortgage, with offices located across the nation. Interestingly, PNC Mortgage is the company’s second mortgage unit. PNC sold the initial PNC Mortgage to Washington Mutual in 2001 owing to market volatility.
PNC also provides real estate functions. Midland Loan Services, a subsidiary of PNC Real Estate, is a third-party supplier of commercial real estate financing services and technologies. It specializes in industrial loan and collateralized mortgage-backed securities (CMBS) fund management. Its operations center in Overland Park, Kansas, where it was established in 1991. PNC/Midland is the second biggest master and principal servicer of commercial bank and savings company loans.
[2.0] HOW TO BRING A CLAIM AGAINST PNC BANK
To sue PNC Bank in small claims court, one must first determine if the case qualifies within the kinds of litigation that the court can adjudicate upon. There are two points to keep in mind, being [A.] the desired compensation and [B.] the amount for damages required. While standard cases provide for the recovery of land or assets, small claims courts allow for either punitive damages or a certain total lump sum in damages.
What is important to consider is the level of reimbursement. Where finances are concerned, claims may quickly escalate, particularly when factors such as overcharges, overdraft fees associated with those charges, or theft are included. Each state has its own set of rules governing small claims courts. If the dispute does not come under the jurisdiction of the state’s small claims court, one would have to resolve it by arbitration.
If the claim is sufficiently qualified to prosecute PNC in small claims court, the procedure will begin with the submission of a demand letter. Most small claims courts mandate that an individual should initiate the proceedings by writing a certified statement to the company’s official legal address, requesting that they resolve the issue willingly. It is necessary to provide information as to the nature of the claim and the content details of the person in order to understand what PNC Bank can do to resolve this claim.
If this demand letter is left unanswered by the bank, the individual may proceed by completing the required paperwork. To sue PNC Bank in small claims court, one must complete the appropriate process service documentation with the state and possibly specific county by ascertaining if they have the appropriate forms for the jurisdiction.
[2.1] SERVICE OF PROCESS FOR A NOTICE OF CLAIM
Additional to the demand letter, the claimant must have the required quantity of copies of the documents in question so that they may adhere to the process service requirements. This will become critical in the subsequent phase of filing since most courts need three or four copies in accordance with process service regulations. Once the individual has completed all court forms, they are required to send those forms to the court. Filing can be somewhat complex depending on the jurisdiction and bank entity upon whom process service is to be levied.
After the individual has completed the required process service paperwork, it is necessary to complete the filing process. To sue PNC Bank in a small claims case, one would certainly need to send the forms to the local courthouse, usually physically, though with the COVID-19 pandemic, personal delivery and attendance have become less inflexible. When the individual arrives at the court, the clerk must approve the papers, seal them, and return them to the individual along with the court hearing date specified in accordance with process service regulations.
PNC Bank will be provided with one of the stamp copies as obtained by the claimant. If the individual is prosecuting PNC Bank in small claims court, the next move is to notify them that they are being served. This is where the service of process on PNC Bank is important to ensure both so that the claimant may get damages and also that the defendant has sufficient opportunity to represent themselves. This entire due process requirement is where service of process is seen as highly imperative. A hard copy of the service of process should be mailed to the Bank.
As is the case for almost any other phase in bringing a claim to court, each small claims court has its own set of conditions for adequately providing a defendant the process service. Additionally, PNC bank will be served at different locations and even allocates different entities based on the function that they may perform. It is important to ensure that the service of process is not wrongly addressed or flawed in terms of adherence to the regulations of process service. A single misstep in process service can result in the dismissal of the lawsuit or even the issuance of a default judgment. When the trial date arrives, it is important to make sure to appear in court with copies of all submitted papers and any proof that is necessary to justify to the judge reasons for said prosecution on PNC Bank in small claims court and why the claimant thus seeks damages.
[3.0] SERVICE OF SUBPOENA ON PNC
According to PNC guidelines, no employee can reveal sensitive details to someone inside PNC unless that individual requires the information to perform their job functions. Furthermore, there are very specific reasons to reveal classified details to someone outside of PNC, being [A.]the individual is hired by a third-party company like a legal, accounting, or other professional services firm that has been retained by PNC, and this individual requires knowledge of facts pertaining to the service that the firm would offer to PNC; [B.] in accordance with applicable legislative procedure or process service guideline. The Legal Department of PNC has developed written rules for the proper treatment of legal process service. If the PNC Bank employee gets a warrant for classified documents, a subpoena, or any legal process, they must notify their supervisor instantly, who can notify the Legal Department: or [C.] permission is obtained in writing from the person or agency to which the information pertains, and the publication of the information is authorized by the Legal Department.
When the summons requires the production of books, papers, records, or other data, the original copies are not always needed for process service and it would be enough for PNC Bank to provide this data with reasonable certainty as a test of description. Process service by mail to third-party recordkeepers is also an acceptable form of process service and may be done by certified or registered mail to the last known address of such recordkeeper.
[2.2] NATURE OF INFORMATION REQUESTED
Especially for tax-record purposes where the subpoena would be issued to determine the accuracy of any return or if the filing of a return has been done when it should not have or even in determining a person’s liability for any internal revenue tax, the Secretary of the State is authorized to [A.] examine books, records or papers or [B.] summon the person liable for tax or required to perform the act of this tax. This would also include any officer or employee who is usually entrusted custody or care of books of account containing entries relating to the subpoena who will then be required to appear before the Secretary at a time and place specified.
The Secretary may take any action for the sake of conducting an investigation into any offense relating to the administration or compliance with the internal revenue laws. All electronically stored information (‘ESI’), must be generated in compliance with the meanings and instructions of records-keeping regulations. At this point, based on said compliance, these records may be reviewed and can be copied. The subpoenaed entity would not be asked to provide the items on record in their original form. They may comply with this subpoena by delivering legible true copies of the items to be generated to the attorney listed on the subpoena on or before the scheduled date of production. The entity may require payment in advance of the appropriate cost of preparation before the copies are prepared.
It is possible for the PNC to mail or send the copies to the attorney whose name appears on this subpoena to avoid appearing at the time and location mentioned. The bank or its entities have the freedom to react to the processing of documents pursuant to the subpoena at any point prior to production by notifying the attorney whose name occurs on this subpoena in writing. However, they cannot altogether escape the subpoena and very well can be held in contempt of court if they refuse to appear or carry the documentation specified without the record of refusal.
PNC Bank may be provided process service at a variety of locations depending on the type of records sought, depending on whether the service of process would be for records as to credit cards, checking accounts, or directly regarding the PNC bank records custodian
PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company’s primary regional markets.
For more information on serving legal papers, contact a Professional Process Service (800) 774-6922. Representatives are available Monday-Friday 8 am – 8 pm EST. If you found this article helpful, please consider donating. Thank you for following our blog, A space dedicated to bringing you news on breaking legal developments, interesting articles for law professionals, and educational material for all. We hope that you enjoy your time on our blog and revisit us! We also invite you to check out our Frequently Asked Questions About Process Servers.
1. ‘The PNC Financial Services Group, Inc. 2019 Annual Report (Form 10-K)’. sec.gov. U.S. Securities and Exchange Commission.
2. Bloomberg.com, https://www.bloomberg.com/quote/PNC:US (last visited May 11, 2021)
3. PNC sells Blackrock stake for $14.4 billion Gazette, https://www.post-gazette.com/business/pittsburgh-company-news/2020/05/15/PNC-sells-Blackrock-stake-for-14-4-billion/stories/202005150123 (last visited May 11, 2021)
4. The bank currently has 2,296 branches in Alabama, Colorado, Delaware, the District of Columbia, Florida, Georgia, Kentucky, Indiana, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, & Wisconsin.
5. Harris Williams & Co., a subsidiary of the company, is one of the country’s largest mergers and acquisitions advisory firms for middle-market companies.
6. The official legal address for service of hard copy by mail.
The PNC Financial Services Group, Inc
PNC Bank, N.A.
PNC Tower (18th Floor)
300 Fifth Avenue
Pittsburgh, PA 15222
7. 26 U.S. Code § 7603 – Service of summons
Service by mail to third-party recordkeepers
A summons referred to in subsection (a) for the production of books, papers, records, or other data by a third-party recordkeeper may also be served by certified or registered mail to the last known address of such recordkeeper.
For purposes of paragraph (1), the term ‘third-party recordkeeper’ means—
(A)any mutual savings bank, cooperative bank, domestic building and loan association, or other savings institution chartered and supervised as a savings and loan or similar association under Federal or State law, any bank (as defined in section 581), or any credit union (within the meaning of section 501(c)(14)(A)),
(B)any consumer reporting agency (as defined under section 603(f) of the Fair Credit Reporting Act (15 U.S.C. 1681a(f))),
(C)any person extending credit through the use of credit cards or similar devices,
(D)any broker (as defined in section 3(a)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(4))),
(G)any barter exchange (as defined in section 6045(c)(3)),
(H)any regulated investment company (as defined in section 851) and any agent of such regulated investment company when acting as an agent thereof,
(I)any enrolled agent, and
(J)any owner or developer of a computer software source code (as defined in section 7612(d)(2)).
8. Requests for credit card records may be served at:
249 Fifth Avenue
One PNC Plaza
Pittsburgh, PA 15222
9. Requests for checking account records may be served at:
First side Center
500 First Avenue
Pittsburgh, PA 15219
10. PNC Bank Records Custodian:
4100 West 150th Street
Cleveland, OH 44135