PNC Bank
| Basic information | |
|---|---|
| Founded | 1983 |
| Legal Structure | Public |
| Industry | Banking |
| Official website | https://www.pnc.com/en/personal-banking.html |
Current Incident
[edit | edit source]PNC Online Banking is set to require the signing of a forced arbitration clause in their newly named Digital Services Agreement after their coming "Banking Upgrade" set to take place Friday, Oct 24, 10:00 pm ET through to (at the latest) Sunday, Oct 26 (of year 2025) in order to use their online services. Whether or not access to funds will be disabled before signing is unknown.
From the 2025 DSA:
"YOUR ATTENTION IS DRAWN TO ANY ARBITRATION PROVISIONS IN YOUR ACCOUNT AGREEMENT(S. YOUR
USE OF THE DIGITAL SERVICES IS SUBJECT TO ANY DISPUTE RESOLUTION PROVISIONS GOVERNING YOUR
ELIGIBLE ACCOUNTS. IF A DISPUTE ARISES BETWEEN US, YOU OR WE MAY REQUIRE THAT IT BE RESOLVED
THROUGH ARBITRATION, RATHER THAN THROUGH JURY TRIAL."
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(See Reference For PDF)
Although the Digital Services Agreement (DSA) states on its first page that it is "Effective July 25, 2025", it seems PNC Bank will require a signature from its users to legitimize its new policy.
Consumer-impact summary
[edit | edit source]With the signing of this new DSA, users of PNC Online Banking services will be forced to relinquish their rights to a "Jury Trial" in the event of a party (users or PNC) disputing with another. This clause effectively relinquishes a user's rights to a trial in a court bound by law and instead bestows that authority onto a third party organization, which is not necessarily bound by the same laws and might be biased towards the benefit of PNC Bank.
"May Require" in the 2025 DSA seems to warrant that any party's request for Arbitration will override the other's desire for "Jury Trial", and as such will be treated in this writing as to say Arbitration 'will be required' as a worst case scenario between a dispute between a user and PNC -- this "worst case scenario" statement is based on the disparity in benefit a company like PNC would receive from such arbitration over a user's benefit.
Brief Company History
[edit | edit source]PNC Bank is the product of a merger of two Pennsylvania Based Banks in 1983 (pnc company "legacy"). This bank operates in 27 states of the USA and is one of the larges banks in United States. PNC Bank in continuation to its precursor corporations has been in business for around 160 years.
References
[edit | edit source]File:2025 digital services agreement.pdf File:2023 olb-service-agreement.pdf [1][2][3][4][5]