Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday.
Institutions have uphill climb to build trust with generation scarred by financial crisis.
A slide in mortgage-banking income hurt earnings, but net-interest income, commercial loans, deposits and assets were all on the rise.
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
Cincinnati-based First Financial Bank is shuffling its operations in the Indianapolis area, including moving its regional hub to a new downtown location and opening a high-profile branch in the same building.
The U.S. Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock.
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.
The Fed will likely approve a fifth cut in its monthly bond purchases because the job market has strengthened. But no clear signal is expected on when it will start raising short-term interest rates from record lows.
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
Two executives with the Evansville-based lender received big stock awards in connection with the company’s IPO. The awards put the pair No. 1 and No. 2 on IBJ’s list of highest-paid Hoosier executives.
First Farmers Financial Corp. said Thursday it is assuming deposits of nine BMO Harris Bank branches in Indiana. It will acquire seven of the nine branch buildings and employees of all nine branches.
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
Since January 2013, banks have closed 35 branches in Marion County and surrounding counties but have opened only six new ones.
Greensburg-based MainSource Financial Group agreed Monday to pay $34 million in cash and stock for MBT Bancorp, the parent of Merchants Bank and Trust Co.
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
Carmel-based Merchants Bancorp announced in May 2013 that it would merge into Mooresville-based CITBA Financial Corp.—a deal initially so warmly received by CITBA shareholders that the company’s stock shot up 87 percent.
