Fed approves PNC plan to buy U.S. retail-bank unit from RBC

12/20/2011 | Wall Street Journal, The

The Federal Reserve has cleared the way for PNC Financial Services Group to expand in the Southeast by approving the bank's plan to acquire the U.S. retail banking division from Royal Bank of Canada. With this decision, PNC becomes the first bank to pass regulators' tougher pre-merger review process.

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Wall Street Journal, The

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