An arrest warrant has been issued for Tim Coughlin, who has been accused of running a Ponzi scheme that collected $12.8 million from investors. In 2008, he proposed creating a 20-story balloon ride at White River State Park.
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
Indianapolis Fire Department Credit Union officials are set to sign off on a deal with the city to build a facility downtown near College Avenue. That would clear the way for a $43 million project on the credit union's current Mass Ave site.
Credit unions last year posted record earnings, thanks largely to lower loan-loss reserves, as well as to growing memberships, growing debit cards, selling off mortgages and stealing business loans away from banks, their arch rivals.