PNC Financial Services Group Inc. (PNC), the seventh-biggest U.S. bank by deposits, said transactions related to mortgage banking and other activities reduced fourth-quarter earnings 47 cents a share.
The transactions include a charge of about $70 million resulting from a foreclosure agreement with federal regulators, the Pittsburgh-based bank said Wednesday in a regulatory filing. The bank also recorded a gain of $130 million from the sale of a portion of its investment in Visa Inc.
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