PNC To Purchase BBVA For ~$11 Billion

Update 11/16/20: This deal is now finalized pending regulatory approval, the deal is for approximately $11 billion.

Original post: According to WSJ PNC is in advanced talks to purchase the U.S. Arm of Spain’s BBVA. This is bad news for bank account bonus churners as both PNC and BBVA have frequent sign up bonuses. For example currently PNC is offering a $200/$400 bonus and BBVA is offering a $200 checking & $50 savings bonus. If you haven’t done both of these bonuses already, I’d recommend doing them now as PNC purchasing BBVA could change the eligibility requirements.