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PNC Bank to Close 19 Branches Across the Nation in February

PNC Bank is preparing to shut down multiple branches across the nation in February.

According to a PNC spokesperson, 19 branches will close their doors, WTAE reported Wednesday.

“Four branches in Illinois, three in Texas, two in Alabama and New Jersey, and one each in Ohio, Florida and Indiana will be closing. Five of the sites closing are in Pennsylvania, including one locally,” the Pittsburgh outlet said.

PNC said it will help clients transition to other branches that are nearby the ones that will close.

PNC Bank was among the biggest American financial services companies to hike employee minimum wages to $18 an hour, the Associated Press (AP) reported in August 2021, noting PNC grew to be one of the largest banks once it acquired BBVA.

During an interview in May, Rep. Brendan Boyle (D-PA) said there is a “banking crisis” but Americans did not know the extent of it.

As Breitbart News reported:

While discussing a letter from Democrats in Congress urging the Federal Reserve to pause interest rate hikes, Boyle stated, “I respect the independence of the Fed. They are obviously going to independently make that decision. But it doesn’t preclude me or any other member of Congress or any other citizen from speaking up and pointing out that the Fed has raised rates so steeply, so quickly that that is having a profound effect on our economy. By their own measures, they are going to cause unemployment as a result of what they’re doing, an increase in unemployment, for which they have no real response. So, I believe a pause here is appropriate. We still, as we’ve been reminded today, don’t know the full extent of the banking crisis. So, I think a pause would be a wise decision. We do not want to have a mistake of going so extreme in the rate hikes that we end up bringing about a recession that is completely unnecessary.”

The news about PNC Bank closures comes after a CNBC Your Money Financial Confidence survey found in April that 70 percent of Americans felt financially stressed living in President Joe Biden’s (D) America, according to Breitbart News.

“Inflation, fueled by Biden’s war on American energy, was the main driver of their stress, as 60 percent of respondents pointed to Biden’s inflation as the main reason for financial stress,” the report said.

 

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