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Here's how new Fed proposal benefits four of Pittsburgh's biggest banks

Patty Tascarella
Here's how new Fed proposal benefits four of Pittsburgh's biggest banks

Pittsburgh’s biggest bank and some of the largest financial institutions operating in southwestern Pennsylvania stand to benefit from a new proposal by the Federal Reserve as regulators continue to relax some of the more stringent conditions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. For PNC Financial Services Group Inc., which has long proclaimed itself a “Main Street bank” rather than a “Wall Street bank,” it likely means a reduction in standardized liquidity requirements. PNC (NYSE:PNC) is based in downtown Pittsburgh.