Federal Reserve expected to raise rates for first time in a year
The Fed last increased rates in December a year ago, when it hiked its benchmark rate from a record low set at the depths of the 2008 financial crisis.
Banks
Articles
Longtime Indiana Bankers Association leader set to retire
S. Joe DeHaven, a 47-year banking industry veteran, is handing the reins to the Amber Van Til, the first woman to serve as CEO and president of the association.
House passes bill aimed at overhauling Dodd-Frank law
The House legislation is portrayed by its backers as a potential boon to regional or large community banks that didn't contribute to the financial meltdown, as opposed to the Wall Street powerhouses.
Bank dealmaker Reed retiring, moving west
Investment banker John Reed had the foresight to move from the East Coast to Indiana just as a change in state law unleashed a tidal wave of bank mergers. He and his wife are retiring to Colorado to be closer to family.
Smaller banks gobbling up market share
But heavyweights Chase Bank and PNC Bank between them still have more than a 40 percent market share, according to recently released federal data.
From banker to caregiver, Steve Schenck has memories to cherish
Schenck's wife, Becky, was diagnosed with terminal brain cancer in 2006 and told she had only 12 to 15 months to live. She defied the odds and lived 10 years beyond her prognosis—time together Steve cherishes and wouldn’t trade for anything.
Yellen says ‘case for an increase’ in rates has strengthened
Federal Reserve Chairwoman Janet Yellen sketched a picture Thursday of an improving U.S. economy. The Fed is widely expected to raise the federal funds rate when it meets in mid-December.
Fed widely expected to leave key interest rate unchanged
With voters set to choose a new president and Congress in six days, the Federal Reserve will likely keep a low profile when it ends a meeting Wednesday to try to ensure it doesn't become part of the debate at the close of a tumultuous political campaign.
In economic ballgame, U.S. is in ‘seventh inning,’ strategist says
The chief investment strategist for Fifth Third Bank on Friday tried to temper optimism in an economic forecast for 2017, noting global headwinds that could curtail growth.
First Internet reports record quarterly earnings
Fishers-based First Internet Bancorp on Thursday reported rising earnings for the ninth time in 10 quarters.
Banks ramp up push to bring ‘unbanked’ into fold
Financial institutions in central Indiana are increasingly rolling out services aimed at the 765,000 Hoosier households who have no banking relationship or have accounts but also use alternative financial services such as check-cashing shops.
Banks look to pay more to retain employees
A survey found bank employees are changing jobs at the fastest pace in a decade, with non-officer turnover at 18.7 percent and officer turnover at nearly 7 percent.
PNC survey finds business owners are optimistic
Small and midsize business owners in Indiana expect the state’s economy will continue to grow at a slow and steady pace, even though they are dissatisfied with the economic plans of both presidential candidates, according to newly released data.
Federal Reserve keeps key rate unchanged but hints of coming hike
The Fed made clear in updated forecasts it issued Wednesday that it expects growth to remain tepid for at least three years.
Fifth Third Bank to shed 44 branches system-wide
Cincinnati-based Fifth Third has about 44 branches and about 490 employees in the Indianapolis area.
Wells Fargo fined $185 million for improper account openings
Regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank's employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals. More than 5,000 employees were fired in connection with the behavior.
Bank bucks trend by opening teller-less branch in grocery
Some banks have been closing their mini-branches in stores, but PNC Financial Services is applying the trend toward automated transactions to its new location in Carmel’s Market District Supermarket.
Yellen suggests rate hike is coming but offers no timetable
Federal Reserve Chairwoman Janet Yellen sketched a generally upbeat assessment of the economy in a speech to an annual conference of central bankers in Jackson Hole, Wyoming.
About 2,800 Hoosier borrowers eligible for HSBC reimbursements
Borrowers whose mortgages were foreclosed upon between 2008 and 2012, with servicing abuses by HSBC, are eligible for part of the $470 million federal-state settlement with the lender.
Old National Bank names new local chief executive
Mark Bradford has been named CEO of Old National’s Indianapolis Region, replacing Randy Reichmann, who held the position for more than decade.