PNC fuels expansion into Texas and California to compete with retail banking giants JPMorgan Chase and Bank of America.
PNC’s purchase uses the $14 billion it raised from selling its stake in BlackRock to fuel an expansion into Texas and California and compete with U.S. retail banking giants such as JPMorgan Chase and Bank of America.
The rule requires that 20 of the biggest U.S. lenders be able to rely on stable funding sources, such as long-term debt and customers’ deposits, in the event of a year long liquidity drought.
M&A wrap: Most Powerful Women in Banking, Cathy Bessant, Bank of America, Thomas Cook, Hyundai, Aptiv
American Baker names BofA's Cathy Bessant the No. 1 Most Powerful Women in Banking. Mergers & Acquisitions seeks nominations for the Most Influential Women in Mid-Market M&A, due Oct. 14. Hyundai, Aptiv team for self-driving car joint venture.