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March 21, 2008
NWB Enters into an Agreement for an Originations through Servicing and
Collections Program
PITTSBURGH, March 21, 2008 – PNC Consumer Services, a member of
The PNC Financial Services Group, Inc. (NYSE: PNC) Group, Inc., today
announced it has entered into an agreement with Nationwide Bank to provide
a complete consumer lending program that consists of originations through
servicing and collections.
Nationwide Bank offers a full range of consumer banking products and
services. PNC will provide back-office and customer service functions for
the bank's direct loan products, including home equity installment loans
and lines of credit, vehicle secured loans, and unsecured loans and lines
of credit. PNC also will provide servicing for Nationwide Bank’s existing
consumer loan portfolio.
“Nationwide Bank is an important client for PNC,” said James DeFoggia,
president of PNC Consumer Services, a leading provider of consumer lending
business processing outsourcing. “This agreement allows us to further
expand our business process outsourcing presence and position PNC as a
premier provider to the diversified financial and retail bank markets.”
Headquartered in Columbus, Ohio, Nationwide Bank (www.nationwidebank.com),
member FDIC, is a federally chartered savings bank and an affiliate of the
Nationwide group of companies, which offers diversified insurance and
financial services. The group is led by Nationwide Mutual Insurance
Company, which is ranked No. 104 on the Fortune 500 based on 2006 revenue.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the
nation’s largest diversified financial services organizations providing
retail and business banking; specialized services for corporations and
government entities, including corporate banking, real estate finance and
asset-based lending; wealth management; asset management and global fund
services.
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