PNC Financial Services Group - PNC STOCK NEWS

PNC Financial Services Group and Plaid have entered into a data access agreement to enhance security and control for PNC customers when sharing financial data with Plaid-powered apps. PNC utilizes Akoya as its API service provider to facilitate this data sharing. The partnership aims to improve data security, privacy, and control for customers using third-party financial applications.

Key benefits include:

• Increased data security for PNC customers
• Greater control over financial data permissioning
• Elimination of credential sharing with third parties
• Faster connection for data recipients through Akoya-provided API

This collaboration supports the industry's move away from credential-based access and aligns with principles of security, access, and control in financial data sharing.

PNC Bank, a member of The PNC Financial Services Group (NYSE: PNC), has announced a decrease in its prime lending rate. The new rate of 8.00% will take effect on September 19, 2024. This change reflects PNC's position as one of the largest diversified financial institutions in the United States.

PNC offers a wide range of services, including:

• Retail and business banking
• Full range of lending products
• Specialized services for corporations and government entities
• Wealth management and asset management

This rate change may impact various financial products and services offered by PNC, potentially affecting both individual and business customers.

PNC Financial Services Group is hosting a special Hispanic Heritage Month event featuring Sylvia Acevedo, a former rocket scientist and CEO of Girl Scouts of the USA. The event, titled 'The Power of Disruption on Your Path to Success,' will take place on Wednesday, September 18, 2024, from 1-2 PM ET. Acevedo will share her remarkable journey from New Mexico to NASA's Jet Propulsion Laboratory and executive positions at major tech companies. The event will cover topics such as technology, entrepreneurship, STEM, innovation, and leadership. PNC executives Luisa Gaviño-Martinez, JP Ramirez, and Fidelma Leonor Fariñas-Cobas will also participate, providing opening remarks, moderation, and closing remarks respectively.

PNC's latest survey of small and mid-sized businesses reveals high optimism about the economy. 56% of business owners are optimistic about the national economy, up from 34% a year ago. 76% are highly optimistic about their own business prospects. The survey indicates:

• 64% expect increased demand in the next six months
• 29% anticipate requesting new loans or credit lines
• 61% plan to raise prices, with 38% expecting increases of 5% or more

Despite recession concerns, only 33% of owners think the U.S. economy has a major impact on their business. PNC's Chief Economist, Gus Faucher, sees these findings as consistent with continued economic expansion through 2024 and 2025. However, challenges persist, including hiring difficulties and rising inflation fears.

The PNC Financial Services Group (NYSE: PNC) has announced details for its third quarter 2024 financial results conference call. Key points include:

• Financial results will be released on October 15, 2024, at approximately 6:30 a.m. ET
• A conference call for investors will be held the same day at 10 a.m. ET
• PNC Chairman and CEO William S. Demchak and CFO Robert Q. Reilly will host the call
• Dial-in numbers: (866) 604-1697 (domestic) and (215) 268-9875 (international)
• Live audio webcast, presentation slides, and a 30-day replay will be available at www.pnc.com/investorevents

PNC is one of the largest diversified financial services institutions in the United States, offering a wide range of banking and financial services.

PNC Bank's second annual Financial Wellness in the Workplace Report reveals varying financial needs across America's multigenerational workforce. Key findings from the survey of over 1,000 U.S. workers and 500 employers include:

- Gen Z is the most financially stressed (76%), followed by Millennials and Gen X (72% each), then Boomers (59%).
- Top financial goals differ by generation, with Gen Z focusing on credit ratings while others prioritize retirement savings.
- Benefits play a important role in retaining younger workers, especially Gen Z (92%) and Millennials (85%).
- Student debt is a significant concern, with 54% finding it the most challenging debt.
- Access to financial planning benefits has doubled for workers in the past year.

The report highlights the importance of tailored benefit programs to attract and retain talent across generations, addressing diverse financial wellness needs in the workplace.

PNC Financial Services Group has announced that its top executives will participate in the Barclays Global Financial Services Conference in New York City. Chairman and CEO William S. Demchak and Executive VP and CFO Robert Q. Reilly are scheduled to discuss PNC's business performance and strategy on Monday, Sept. 9, at 12:00 p.m. (ET).

Investors and interested parties can access a live webcast of the presentation, along with related materials and cautionary statements, through PNC's investor events webpage. This event provides an opportunity for stakeholders to gain insights into PNC's current position and future plans directly from its leadership team.

A recent survey by PNC reveals that women business leaders are more optimistic about the economy and their business success compared to men. Key findings include:

- 43% of women cite passion and personal satisfaction as their primary motivation for business, versus 35% for financial success.
- Women are more likely to expect increases in demand (51%), sales (51%), prices (49%), and profits (52%) in the next six months.
- 64% of women express confidence in the national economy, compared to 51% of men.
- Women value support from community, friends, and family more than men (62% vs 41%).

PNC supports women entrepreneurs through its network of over 5,000 Women's Business Advocates, offering resources beyond traditional banking services.

PNC is expanding its free financial education initiative, the PNC Center for Financial Education (CFE), to nine new markets by year-end. The program, which aims to boost money management skills for individuals, first-time homebuyers, and small business owners, will launch in Atlanta, Birmingham, Cleveland, Harrisburg, Indianapolis, Oakland, Phoenix, Philadelphia, and Pittsburgh. Since its pilot launch in six cities last year, the CFE has facilitated 80 workshops serving over 1,000 adults, primarily in unbanked, underbanked, and low and moderate-income communities.

The expansion comes as American household debt reached $17.5 trillion in Q4 2023, with lower-income and younger households facing increased financial stress. PNC's initiative aims to bridge gaps in financial education and provide accessible resources for building a solid foundation in personal finance, small business, and home-buying.