Signs of a possible credit crunch in the United States had begun to emerge even before Silicon Valley Bank collapsed on March 10, raising worries about the stability of the financial system.
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Indiana-based banks have been spending less and less writing off bad loans over the past several years, a trend that suggests they’ve cleaned up their loan portfolios and might be willing to increase their appetite for risk.
Read MoreOne of the biggest drags on the economic recovery is fear. Households are hoarding cash, spending cautiously, avoiding debt, and shifting investments into low-yield (but potentially safer) holdings. When done on a global scale, such prudent moves can starve the economy.
The Federal Deposit Insurance Corp. has filed suit against four former officers of defunct Irwin Financial Corp. banks, alleging they “closed their eyes to known risks” in approving loans that contributed to the banks’ 2009 takeover by regulators.
A lawsuit filed in Georgia against an Indianapolis firm that helps consumers settle debt is just one in a parade of complaints targeting the industry.
Central banks around the world worked Wednesday to give banks easier access to dollars, jolting stock markets and easing fears of a global credit crisis. The Dow Jones industrial average had its biggest daily gain since March 2009.
Portugal’s efforts to climb out of its economic crisis suffered a double setback Thursday as its credit rating was downgraded to junk status and a major strike gave voice to broad public outrage over austerity measures that have squeezed living standards.
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
The Carmel-based homebuilder said Tuesday that it will shut down if outside investors or a line of credit aren’t obtained soon. The company previously received a cash infusion last June from a group of subcontractors.
Momentive Consumer Credit Counseling Service Inc. has agreed to be absorbed by Ohio-based Apprisen Financial Advocates, as financial pressures in the industry push not-for-profit agencies to become larger.
West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
Robert E. Tolle pleaded guilty Thursday in federal court of making fraudulent bank entries while serving as a loan officer at the Indianapolis office of Evansville-based Old National Bank.
The Pension Benefit Guaranty Corp. estimates Irwin Financial Corp.’s pension plan is 56 percent funded, with assets of $26.7 million
to cover $47.2 million in benefit liabilities.
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting
rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in
debt.
The first few months of 2009 were not an easy time to be CEO of Simon Property Group Inc. David Simon was feeling pressure
from shareholders, lenders, employees and family members.
Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged
the nation into a severe recession two years ago.
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
