Ann: Investor briefing transcript, page-11

Their presentations say banking products and given there is no collateral that the bank or PNC is collecting on would thus predominantly be unsecured credit cards and personal loans.

@Portfolio some good further comments. The conflict thing is an interesting one. I don't think it will cause a problem given PNC would have a better understanding of a customer that without that history the bank is unlikely to touch anyway (the banks saw default, PNC will have seen payments). Also the value we're probably talking about is peanuts when compared to the size of retail banking portfolios for the big end of town and not in their sweet spot. That assumption could turn out to be wrong and one would hope they have done their DD.

I believe the banks would typically sell once the debt has reached post 180-360 days over due where they have already provisioned for it, have no collateral and get little to no benefit for regulatory capital purposes. I suppose the decision as to when to sell such debts might be different between the different banks. Don't know the answer to that.