Bank of America already has customers here, but is now opening an actual branch—in the street-level retail space in the new Cummins Inc. distribution headquarters downtown.
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.
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.
The FBI on Tuesday offered a $20,000 reward for information that could help solve the 2011 killing of a U.S. banking executive who spent a significant part of his career in Indianapolis.
BMO Harris Bank, the area’s fifth-largest bank by deposits, is trimming about 4 percent of its workforce as it adapts to changing customer habits.
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
Several out-of-town community banks have launched a full-court press on Indianapolis over the past decade and are seeing solid traction. Experts say they’re coming here because per-capita income and populations in their own back yards are growing more slowly and, in some cases, even declining.
Fifth Third Bancorp said it plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones. The company has more than 40 branches in the Indianapolis area.
Expected to take effect in May, the Indianapolis layoffs are part of a company-wide strategy to wind down student loan services.
Despite an auction of inventory to satisfy a debt, Aronstam Fine Jewelers is in no danger of closing, the store’s owner says, thanks to the help of outside investors.
KeyCorp said Leo G. “Skip” Watson will be its regional sales executive for the Great Lakes, overseeing operations in Indiana, Ohio and Michigan.