PNC Must Face Class Claims on Home Equity Loans

PNC Bank N.A. must face class claims of illegal home equity lending under an array of federal statutes, the U.S. Court of Appeals for the Third Circuit said (In re Comm. Bank of No. Va. Mort. Lending Practices Litig., 2015 BL 242081, 3d Cir., 13-cv-04273, 7/29/15).

The July 29 ruling upholds a district court that certified five nationwide subclasses of plaintiffs who say a Virginia-based bank that PNC acquired in 2007 violated the Real Estate Settlement Procedures Act, the Home Ownership and Equity Protection Act, the Truth in Lending Act, and the Racketeer Influenced and Corrupt Organizations ...