- Associated Press - Wednesday, March 4, 2015

PITTSBURGH (AP) - Pittsburgh-based PNC Financial Services Group says it will further scale back financing of companies that cut off mountaintops to mine coal.

PNC had previously refused to finance companies that produced most of their coal with mountaintop mining, but will now cut off financing to any company that gets more than 25 percent of their coal that way. PNC also already had a policy of not financing individual mountaintop mining projects.

Spokesman Fred Solomon says the move is a way “to continue serving our clients in the region while contributing to a better environment for everyone.”

The Earth Quaker Action Team, a Philadelphia-based environmental group, had pushed for the move by PNC and claimed credit for it.

The group has picketed PNC shareholder meetings and encouraged supporters to divest from the bank.

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