PNC Sinks, Pulling Down Wells Fargo and Others
June 12, 2012 at 10:50 AM EDT
PNC Financial (PNC) told attendees at a Morgan Stanley financials conference today that it will be buying back more bad mortgages on increasing demand from homeowners, Marketwatch reported. The news sent PNC shares down 3%, and appeared to be weighing on other banks with large mortgage exposures. Wells Fargo (WFC) was down about 0.2% even [...]
