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PNC Financial to Buy Riggs Bank for $779 Million

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PNC Financial to Buy Riggs Bank for $779 Million

Business

PNC Financial to Buy Riggs Bank for $779 Million

PNC Financial to Buy Riggs Bank for $779 Million

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  • <iframe src="https://www.npr.org/player/embed/3456009/3456010" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

PNC Financial Services Group agrees to purchase embattled Riggs Bank for $779 million. A Washington institution, Riggs is under Senate scrutiny for allegedly helping former Chilean dictator Augusto Pinochet conceal assets from international prosecutors and recently paid a $25 million fine for violating money-laundering laws. Hear NPR's Jack Speer.