Ohio-based CFBank entering Indianapolis market
Indianapolis is the first non-Ohio market and the fourth market overall, for CFBank. The company has hired a market president and is currently scouting for office space.
Bank
-
City’s poor often have few affordable options for banking, other financial services
Banking is more expensive for the people who most need it to be affordable, a reality that experts say plays a significant role in preventing many Hoosiers from snapping the cycle of poverty.
Read More
Articles
Chase remains Indy’s biggest bank
PNC and Fifth Third rank as the second and third largest area bank by deposits.
Banks adding branches in Hamilton, Hendricks counties
State Bank will also move its Danville branch to 8589 Rockville Road in Avon, near the Hendricks Regional Health YMCA. That location is set to open Nov. 9.
Indiana Members Credit Union acquiring community bank for nearly $35M
The Indianapolis area’s largest credit union is joining a small but growing movement in the financial services industry by agreeing to acquire a community bank.
Founders, employees of Westfield financial firm accused of $10M fraud
Prosecutors allege that the defendants engaged in a 13-year-long scheme to defraud the Small Business Administration.
Fed expected to raise rates while Trump presses criticism
The president fired off two tweets this week objecting to a rate hike. In one of them, he called it “incredible” that the Fed would consider raising rates again when “the outside world is blowing up around us.”
Six arrested in 2011 killing of former Indianapolis banker
Federal authorities announced Wednesday that they have solved the high-profile orchestrated killing of a former Indiana banking executive who was shot to death more than seven years ago while driving home from work.
BMO Harris hires new Indiana commercial banking executive
BMO Harris has added a former JPMorgan Chase exec to lead its commercial banking efforts in central Indiana and around the state.
National Bank of Indianapolis retains focus on central Indiana market
Today—as it was in 1993 when the bank launched—its leaders focus on reaching customers in four categories: small to medium-sized businesses, professionals, not-for-profit organizations and money management. “We haven’t changed that strategy in 25 years,” said Mickey Maurer, the bank’s board chairman.
Three area business owners, former bank employee charged in $8M fraud schemes
The U.S. attorney’s office says five central Indiana residents and one man from Detroit took more than $8 million from a bank and an insurance company, in part to pay for a home, a wedding, cars and more.
Senate GOP moves to repeal consumer banking rule
Vice President Mike Pence cast the final vote to break a 50-50 tie. The banking industry had been lobbying hard to roll back the regulation from the Consumer Financial Protection Bureau.
FBI raids financial services firm in Westfield
The bureau so far isn’t sharing details on its interest in Banc-serv, which provides services for small business lenders.
Wells Fargo now says 3.5 million accounts involved in scandal
The scope of the banks fake accounts scandal grew significantly on Thursday, with the bank saying that 3.5 million accounts were potentially opened without customers’ permission.
Chase CEO drops in to quiz Indianapolis employees
Jamie Dimon and other top executives of the nation’s biggest bank were in town Wednesday to ask local employees about what’s working and what needs fixing. Some could join him on a bus trip.
First Merchants completes acquisition of Independent Alliance Banks
The merged companies make up the second-largest financial holding corporation headquartered in Indiana, behind Evansville-based Old National Bank Bancorp.
Debt-collection executive Wolfe to plead guilty to fraud charges
Todd Wolfe’s Deca Financial Services LLC was forced into bankruptcy in 2014, and he was indicted on federal fraud charges the following year.
First Internet Bank raises $23.4M with new stock offering
The Fishers-based online-only bank plans to use the new capital to support its growing loan business.
Fed raises rate, boosts outlook for borrowing costs in 2017
New projections show the central bankers expect three separate quarter-point rate increases in 2017, up from the two seen in the previous forecasts.
Former controller of Estridge Homes accused of $364K fraud scheme
Thomas Carter of Fishers has been charged with bank fraud after allegedly siphoning funds from his employer for more than three years.
Massive merger of pawn operators includes 18 Indy locations
The No. 1 player in the U.S. pawn shop market has agreed to buy the No. 3 firm for about $994 million in stock as a regulatory crackdown reshapes the non-bank lending industry.