Wall Street pulls back from its records as JPMorgan Chase and Delta kick off earnings season
U.S. companies are under pressure to deliver strong growth in profits to justify the runs to records their stock prices have made.
Banks
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Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
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Got a dime? Businesses seek Treasury help with coin shortage
A group of trade associations that represent individual businesses including banks, retail outlets, truck stops, grocery stores and more is asking the Treasury Department for more help convincing Americans to get coins back in circulation.
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Chase to install solar panels on at least 17 area branches
The installations are happening at Chase branches across the United States, and each installation will provide 30% of that branch’s annual power needs, Chase spokeswoman Carlene Lule said.
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Articles
Boonville bank sues state depositor insurance fund
A small bank in southwestern Indiana claims that it and other financial institutions around the state are owed a combined hundreds of millions of dollars that are held in a state-run bank deposit insurance fund.
Lessons from college basketball influence Muncie bank executive’s leadership today
During his career there, the Muncie-based bank has grown considerably, from a couple of hundred employees and $1 billion in assets to more than 2,000 employees and nearly $19 billion in assets.
With so many ways to pay for retail purchases, how’s a consumer to choose?
What used to be a simpler checkout choice (“Cash or credit?”) has become more complex, fueled by tech-enabled options that have gained traction in recent years.
New lender’s approach will be a first for state
Evansville-based Old National Bank is working on a first-of-its-kind effort: the launch of an Indiana-based bank whose target customers are minorities and those underserved by traditional banks.
Is the run of bank branch closures ending? Maybe.
Even in the era of online banking, banks say they still value the physical location, and several are making significant investments in expanding and improving their branch networks.
Rebounding banks see tailwinds ahead
After a tough 2023, most publicly traded banks in the Hoosier state have seen at least a partial rebound in their stock prices this year.
Local banks lure new customers with cash amid competition
Cash offers are not a new phenomenon, but they’re in widespread use locally now, with at least 10 banks and credit unions offering such incentives.
Banks see the ‘mass affluent’ as hot prospects worth enticing offers
A dramatic shift in cash offers—one-time cash incentives banks offer to new customers—is an example of how keen banks are to land the mass affluent
Federal judge temporarily halts Biden plan to lower credit card late fees to $8
The temporary nationwide injunction is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect.
Big banks warn of uncertain year ahead after mixed financial Q1 performances
Banks warned of risks in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.
Visa, Mastercard reach $30 billion swipe-fee deal with merchants
In recent years, merchants have grown increasingly vocal about their opposition to credit card fees, which typically amount to about 2% of a purchase and totaled more than $100 billion last year.
Banks, credit unions turn to Legislature after stinging court losses
The revival of a bill that would allow banks to change contract terms without explicit consent from their users rang alarm bells for consumer advocates but faced little opposition in the Indiana House. Additionally, the proposal would override two recent opinions from the Indiana Supreme Court.
Indiana-based banks see stock-price rebound on horizon
Most of Indiana’s 14 publicly traded banks have seen a significant drop in stock prices at some point this year, in some cases falling more than 50% from their Jan. 3 prices, the first trading day of the year.
From airlines to ticket sellers, companies fight U.S. to keep junk fees
Corporations have fought vigorously to thwart even the most basic rules that would require them to be more transparent about hidden charges, according to a Washington Post review of federal lobbying records and hundreds of filings submitted to government agencies.
New instant payment network could help smaller banks compete with the big guys
With help from a national pilot group that includes three Indiana-based banks, the Federal Reserve will soon launch the service, called FedNow.
Parent company of Silicon Valley Bank files for bankruptcy
The filing from SVB Financial Group was widely expected, with much of the company now under the control of banking regulators. The bank was seized last week by the federal government.
Is your money safe? What you need to know about bank failures.
The recent failures of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, might have you worried about your money. After all, they were the second- and third-biggest bank failures in U.S. history.
U.S. government moves to stop potential banking crisis
In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed and was being seized on Sunday.
The Freedom Forum podcast: Rafael Sanchez, Old National Bank exec
In this episode host, Angela B. Freeman talks with Sanchez about diversity, equity and inclusion from a unique and authentic vantage point as a Hispanic male executive in the banking and lending industry.