The FDIC says 57.5 percent of banks reported an increase in profit in the second quarter from a year earlier. They reduced their expenses, and lending marked its fastest pace since 2007.
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.
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 woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
A second regional bank in the metro area in as many months has announced a change in its state leaders and area boundaries.
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction’s building at 6002 N. Michigan Road, and on personal property.
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
Local banking veteran and community leader Albert J. Smith Jr. is eight years older than his predecessor, who retired in January.
Banks are pushing for reform to the state’s process for home foreclosures.
What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.
The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from two power grid operators, including the Midcontinent Independent System Operator, which is based in Carmel.