PNC Gets Stamp Of Approval For Low-Fee Account Aimed At ‘Underbanked’

PNC Bank has gained certification from the Cities for Financial Empowerment (CFE) Fund for a second bank account that limits fees. The nonprofit CFE Fund and the Bank On coalition aim to help low- to moderate-income people gain affordable banking services. The financial institution (FI) will charge $5 a month, but the checking account will have no charges for overdrafts or insufficient funds, Bloomberg reported. One in four U.S. adults is considered unbanked or underbanked, according.
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