PNC Filed Bids for FirstBank Challenged on CRA as on FOIA OCC Withholds Through Oct

by Matthew Russell Lee, Patreon Book Substack

FEDERAL COURTHOUSE, Sept 30 – As PNC Bank has grown it has become more disparate in its lending. After its CEO Bill Demchak announced a $4.1 billion proposal to buy FirstBank and bragged, "We just effectively bought Colorado," Fair Finance Watch prepared an early filing to the regulators demanding scrutiny and hearings.  

This takes place as the regulators, led by the FDIC, are seeking to eliminate public notice and limit public comment. See, e.g., American Banker, Sept 10, 2025, "The FDIC is taking the 'community' out of CRA enforcement," by Matthew R. Lee, here

 On September 13 Fair Finance Watch filed challenges with the Federal Reserve and OCC, and Inner City Press filed Freedom of Information Act requests, see below.

  On September 17 the Federal Reserve posted notice that PNC had applied. On September 18 the FRB of Cleveland provided some of the application - but all material litigation against PNC withheld. Inner City Press immediately challenged it under FOIA.

The OCC has not provided notice - but did stop Inner City Press' FOIA request seeking to limit the request to communications with PNC's counsel. Inner City Press immediately responded that the request is not so limited.

 On September 30, after the FRB granted expedited processing under FOIA, the OCC denied an identical request for expedited processing, trying to ensure no records during the public comment period. Inner City Press has appealed.

New issues have arisen that FFW will raise in its second comment.

 From the filings:

This is an early first comment on, the proposal and applications by PNC to acquire FirstBank. PNC's CEO Bill Demchak on September 9 said publicly, "We just effectively bought Colorado." Not so fast.  

 Fair Finance Watch has long been concerned about PNC.  Fair Finance Watch has reviewed the just-released 2024 Home Mortgage Disclosure Act data of PNC, not reviewed in any Community Reinvestment Act performance evaluation. 

 In state after state, PNC for African Americans has (many) more denials than originations, while the opposite is true for white borrows. The pattern is striking:    

 In Pennsylvania, PNC's headquarters state, PNC in 2024 denied 463 applications from African Americans while making fewer, only 343 loans - while it made fully 7666 loans to whites and denied only 2720 applications. This is disparate. 

   In Michigan, where PNC lists 123 branches, PNC in 2024 denied 171 applications from African Americans while making fewer, only 112 loans - while it made fully 2240 loans to whites and denied only 837 applications. This is disparate.

  In Texas, PNC's biggest state by number of branches, PNC in 2024 denied 390 applications from African Americans while making fewer, only 192 loans - while it made fully 2076 loans to whites and denied 2328 applications. This is disparate. 

   In Florida, where PNC lists 184 branches, PNC in 2024 denied 370 applications from African Americans while making fewer, only 233 loans - while it made fully 2922 loans to whites and denied only 2172 applications. This is disparate.

    In Indiana, where PNC lists 80 branches, PNC in 2024 denied 140 applications from African Americans while making fewer, only 135 loans - while it made fully 2374 loans to whites and denied only 909 applications. This is disparate. 

   In Maryland, where PNC lists 112 branches, PNC in 2024 denied 465 applications from African Americans while making fewer, only 333 loans - while it made fully 1661 loans to whites and denied only 861 applications. This is disparate.   

 In New York, where PNC recently and unceremoniously closed a deposit facility, PNC in 2024 denied 52 applications from African Americans while making fewer, only 28 loans - while it made fully 289 loans to whites and denied only 252 applications. This follows the same PNC pattern and is disparate.  

  In Alabama, where PNC lists 90 branches, PNC in 2024 denied 357 applications from African Americans while making fewer, only 235 loans - while it made fully 1084 loans to whites and denied only 661 applications. This is disparate.  

  In Colorado, which PNC CEO's says the bank has now "effectively bought," PNC in 2024 denied 12 applications from African Americans while making only 17 loans - while it made fully 422 loans to whites and denied only 244 applications. This is disparate.  

  In the District of Columbia, where PNC lists 19 branches, PNC in 2024 denied 73 applications from African Americans while making fewer, only 47 loans - while it made fully 116 loans to whites and denied only 37 applications. This is disparate.  

  In Illinois, where PNC lists 141 branches, PNC in 2024 denied 232 applications from African Americans while making fewer, only 170 loans - while it made fully 2408 loans to whites and denied only 1167 applications. This is disparate.   

 In Georgia, where PNC lists 54 branches, PNC in 2024 denied 321 applications from African Americans while making fewer, only 261 loans - while it made fully 665 loans to whites and denied only 321 applications. This is disparate.

    In Arizona, where PNC lists 60 branches and now proposes to further expand, PNC in 2024 denied 15 applications from African Americans while making only 22 loans - while it made fully 796 loans to whites and denied only 466 applications. This is disparate.  

  In Virginia, where PNC lists 51 branches, PNC in 2024 denied 134 applications from African Americans while making fewer, only 120 loans - while it made fully 836 loans to whites and denied only 449 applications. This is disparate.  

  In California, where PNC lists 56 branches, PNC in 2024 denied 69 applications from African Americans while making fewer, only 54 loans - while it made fully 1604 loans to whites and denied only 868 applications. This is disparate.

    In Missouri, where PNC lists 27 branches, PNC in 2024 denied 49 applications from African Americans while making fewer, only 32 loans - while it made fully 405 loans to whites and denied only 173 applications. This is disparate. 

   In New Jersey, where PNC lists 177 branches, PNC in 2024 denied 361 applications from African Americans while making fewer, only 239 loans - while it made fully 3872 loans to whites and denied only 1945 applications. This is disparate. 

   In North Carolina, where PNC lists 102 branches, PNC in 2024 denied 216 applications from African Americans while making fewer, only 184 loans - while it made fully 1842 loans to whites and denied only 768 applications. This is disparate. 

   In Ohio, where PNC lists 210 branches, PNC in 2024 denied 442 applications from African Americans while making fewer, only 368 loans - while it made fully 5057 loans to whites and denied only 2000 applications. This is disparate. 

   In Tennessee, where PNC lists six branches, PNC in 2024 denied 27 applications from African Americans while making fewer, only 20 loans - while it made fully 280 loans to whites and denied only 123 applications. This is disparate. 

   In Delaware, where PNC lists 26 branches, PNC in 2024 denied 91 applications from African Americans while making fewer, only 87 loans - while it made fully 675 loans to whites and denied only 258 applications. This is disparate.

    In Massachusetts, where PNC lists nine branches, PNC in 2024 denied 29 applications from African Americans while making fewer, only 23 loans - while it made fully 215 loans to whites and denied only 165 applications. This is disparate.    

  In Kentucky, where PNC lists 66 branches, PNC in 2024 denied 98 applications from African Americans while making only 129 loans - while it made fully 1733 loans to whites and denied only 596 applications. This is disparate. 

   In South Carolina, where PNC lists eight branches, PNC in 2024 denied 27 applications from African Americans while making fewer, only 25 loans - while it made fully 511 loans to whites and denied only 212 applications. This is disparate.    

And in Wisconsin, where PNC lists 24 branches, PNC in 2024 denied 23 applications from African Americans while making fewer, only 16 loans - while it made fully 338 loans to whites and denied only 105 applications. This is a nationwide pattern of disparities. And there is more.  

  From the many complaints against PNC, here is one from the CFPB public database:

14651893 Company name PNC Bank N.A. ... Date received: 7/14/2025 Consumer’s state: MI  Complaint Narrative Hi my name is XXXX XXXX, I am the owner of my pnc acct, with routing numberXXXX ; an account number:XXXX. My account was frozen/ closed for XXXX reason an no explanation given. I tried calling, emailing, ect.... Still no REASON as to why my funds are frozen. I been a member over a year with [...]  

 There are many more - including regarding the debanking the OCC said will now be considered in connection with merger and other applications - to be addressed at the requested hearings.

Watch this site.

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After SBF 25 Years Salame 90 Months Michelle Bond Doubled Down on Calling Sassoon Oct 16

by Matthew Russell Lee

SDNY COURTHOUSE, Sept 29 – On the US v Sam Bankman-Fried trial, hours after the guilty verdict, a book was published: "Crypto Criminal: The Conviction of Sam Bankman-Fried: As live tweeted and investigated from inside the SDNY courthouse by Matthew Russell Lee," audio/book here.

  On March 28, 2024, Inner City Press live tweeted his sentencing, to 25 years.

On May 28 Salame was "sentenced to 90 months."

On August 21, Salame filed that "the Government used the plea negotiations to threaten Salame’s domestic partner and the mother of his child, Michelle Bond." Full filing on Patreon here.

 On August 22, after Inner City Press published a curtain raiser on Michelle Bond being presented in SDNY Mag court, it happened,  thread

On June 19 Bond's lawyers requesting a hearing about Salame's plea, saying she is a third party beneficiary and that the case provides a rare opportunity to cast Brandeis' sunshine onto the SDNY prosecutors' "tactics in obtaining pleas."

On July 22, amid the US v Storm crypto trial, this:

AUSA Simon: Mr. Breslin seems to say we agreed to not tell the court about an agreement. This is serious and may implicate Rule 11.

Afterward: "Minute Entry for proceedings held before Judge George B. Daniels: Attorney(s) present for Defendant(s): Eric R. Breslin; Melissa S. Geller. Next status conference is scheduled for September 25, 2025 at 10:00 a.m

On July 23 Michelle Bond's new counsel from Duane Morris filed a redacted copy of Bond's supplemental retainer letter, about the plea discussion. We aim to have more on retainer letters.

On July 28 Judge Daniels Both parties are directed to submit and exchange, by letter, a list of intended witnesses to be examined at the hearing no later than September 15, 2025

On September 15 Bond's lawyer filed that "Ms. Bond intends to call the following witnesses to be examined at the evidentiary hearing on September 25, 2025: • Danielle Sassoon, Former Assistant U.S. Attorney and U.S. Attorney, U.S. Attorney’s Office for the Southern District of New York."

On September 29 Bond's lawyer from Duane Morris wrote in, after jointly suggesting Oct 16, that "There is no world in which Ms. Sassoon’s testimony could be deemed cumulative or irrelevant, particularly as the government has refused to permit any other government attorney involved in the case to testify. (See ECF 58). Next, to be clear, it is not the scope of Ms. Sassoon’s testimony to which the defense objects. It is the qualification that the defense must somehow make a pre-determined showing which the government will then evaluate and make a determination, in some unidentified individual’s own mind, that Ms. Bond’s argument has merit. The Court already considered the government’s argument that insufficient evidence of an inducement exists and ordered a hearing anyway. And, it is the government, not Ms. Bond, that made Ms. Sassoon a central character in this drama" - full 7 page filing on Patreon here

We'll have more on this, and on retainer(s).

More details on X for Subscribers here, Substack here

This case is US v. Bond, 24-cr-494 (Daniels)

We'll have more on this.

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Jury Found Charlie Javice Guilty She Asked 18 Months But Judge Sentences Her to 85 Months

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Sept 29 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

February 20 openings, thread here.

On March 28 Charlie Javice was found guilty - and Olivier Amar too. Both sought severance from each other so expect appeals on those grounds.

On September 29 Inner City Press live tweeted; Judge Hellerstein after breaking from 1 pm to 2:40 pm sentenced her to 85 months.

More on X for Subscribers here and Substack here

And, " Deft. shall continue on bail pending appeal."

  This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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UN PGA Baerbock Brags About UN No Show on Press Access No Disclosure of Secondment

by Matthew Russell Lee, Patreon Book Substack

UN GATE / SDNY, Sept 29 – New UN General Assembly President Annalena Boerbock has said the GA must live up to its claims. But those include transparency and press access, and due process - all of which are being denied, now under Boerbock.    Inner City Press wrote to her Office, on September 10, so for without response, see below.

  At the end of a circuslike UNGA week, with walkouts and abortive rights of reply, Baerbock bragged about the UN being popular. Still no answer to:

Dear PGA Baerbock -      I am writing to you as President of the UN General Assembly, more than two weeks before the UNGA High Level Week, for access to enter the UN and cover the UNGA session you will be presiding over.     I am a journalist who covers the UN - and its General Assembly - closely. I also covered international affairs beyond the UN, as simply one example earlier this month see reporting of my questioning of the IMF at one of its briefings I routinely am allowed to enter and cover, "Sept 1, 2025, Decrypt, "El Salvador Is Splitting Up Its Bitcoin," by Mat Di Salvo, "In late July, an IMF spokesperson told Inner City Press that El Salvador was not, in fact, purchasing Bitcoin on a weekly basis but was instead simply moving funds around from internal wallets," here (Also asked IMF about Ghana on September 11).

  By contrast, and in a lawless inconsistency of the UN and UNGA that I am hereby asking you to reverse, I and Inner City Press are not allowed into the UN, without reason given. To covering your GA, on June 19, 2025 I wrote to USG Melissa Fleming and MALU's Tal Mekel.

  More than two months later, they have not answered. This is unacceptable for the UN and I ask you to ensure that Inner City Press gets a response and is allowed in to cover your GA. This press freedom question, about covering the General Assembly you preside over, is your responsibility and cannot be delegate. Now that you have received this, we will await and report on your response. 

 For now, Baerbock's office's website does not list any outside fundings, for travel or secondment of staffers (whom we will review) - this after the PGA scandals under John Ashe (RIP), Sam Kutes and since - Inner City Press has covered at least two corruption cases here in SDNY Federal court in lower Manhattan.

More on X for Subscribers here and Substack here

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After UNOPS Corruption Exposed by Inner City Press Vanshelboim Extradition Vote in Spain

By Matthew Russell Lee, Patreon

UN GATE, Sept 28 – In the United Nations under Antonio Guterres, there is nothing but failure and excuses and fundraising on crises like Gaza, Ukraine, Syria, Burma, Haiti and Cameroon.  The nearly over UNGA week, with sleeping Japanese journalists and Guterres lying about press freedom and UN equipment shows it.

There is impunity for sexual abuse by peacekeepers and UN staff like Juan Carlos Cunillera, just "along for the ride" during the UN sex-in-the-van exposed by Inner City Press. 

But now as we again look at and ask about Guterres' omission of his links to UN briber CEFC China Energy, leading to him banning the Press (and Melissa Fleming continuing the ban, not even answering a law firm's pro bono letter), on April 17, 2022 we published on other officials - including long time UNOPS operative Vitaly Vanshelboim (whom Inner City Press covered in connection with UNOPS gag orders before being banned from UN by corrupt Guterres.)

We noted  that Vanshelboim's skeeze in the S3i scam of UNOPS's Grete Faremo.

  While others then noted for example that a long time member of the UN Correspondents Association Gloria Starr Kins played a role in hooking up the fraud, they don't mention UNCA and their role in banning the Press. On December 13, 2024, UNCA will put access to Guterres up for sale again at Cipriani: no questions have been answered.

Now this: In Spain the National Court will consider this Thursday whether to extradite Vanshelboim to SDNY in the US where, unlike Guterres UN which protected and helped him get away, he wanted for trial on alleged bribery, criminal association, and money laundering charges.  Surprisingly perhaps, since Spain colludes with Guterres in banning Press, the Spanish Prosecutor's Office supports the extradition. It states that the alleged events occurred between September 2015 and August 2023 in his role as a director of the UN agency, adding that the requirements for granting the extradition request have been met.  Vanshelboim allegedly received at least $2 million from a British businessman in exchange for diverting approximately $60 million in grants and loans to companies linked to the latter for the development of affordable housing, renewable energy, and healthcare infrastructure. Vanshelboim was arrested last March pursuant to an international arrest warrant issued by the U.S. District Court for the Southern District of New York for prosecution.  AN Judge María Tardón ordered his provisional imprisonment due to the risk of flight, given the "considerable seriousness" of the incidents. From Guterres? Silence, no answers to Press, censorship and corruption. A fish rots from the head.

  We'll have more on this.

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