First Merchants has begun constructing a $2 million branch that’s expected to open in the mostly Black Avondale Meadows neighborhood in late November. It’s he most visible sign yet of sweeping changes at the Muncie-based financial institution after it settled redlining investigations last year.
The three branches, all of them in Indianapolis, will close on different dates in October and November. Even after the closures, though, Chase will still have three dozen or so locations around the city.
Chairman Jerome Powell on Wednesday defended the Federal Reserve’s efforts to support the economy during the pandemic-induced recession from assertions that its programs bungled aspects of its response.
The central bank has faced criticism for not making the Main Street program easier to use for banks, which evaluate and issue the loans. The Fed buys 95% of the loan from the banks, reducing their credit risk.
Wall Street has been shaky this month, and the S&P 500 has dropped 8.4% since hitting a record Sept. 2 amid a long list of worries for investors.
The financial sector was hit hard Monday following a report alleging that a number of banks have continued to profit from illicit dealings with disreputable people and criminal networks
Changes to the CRA laws are considered long overdue among banking experts, especially given the rise of online banking.
We all know that restaurants have been devastated by the pandemic. Some have closed, and Pete predicts more are about to. He suggests determining how much you can afford to help and then spending that cash at two or three restaurants that are meaningful to you.
The owner of a Greenfield insurance and financial business was charged Wednesday with stealing $1.2 million from clients in a securities and investment fraud scheme.
AstraZeneca added 0.5% following news over the weekend that clinical trials for the pharmaceutical company’s coronavirus vaccine will resume after being paused due to a reported side-effect in a patient
Sharpen Technologies, an Indianapolis-based developer of cloud-based customer service software, has now raised more than $40 million in venture and growth capital since its founding in 2011.
U.S. consumer borrowing rose by a solid 3.6% in July, the second monthly gain after the coronavrius pandemic had sent consumer borrowing down sharply in the previous three months.
In the past 80-plus years, however, credit unions have grown substantially in size and scope, bearing little resemblance to their forebears. Their current clientele often are affluent, and field-of-membership requirements have been stretched beyond recognition.
Even though the S&P 500 is near a record high, just 15 of 55 Indiana public companies tracked by IBJ are up for the year.
After months of lockdown during the pandemic, many have become aware of the failings of their homes. Whether you want a cosmetic update or think your home may have a more serious problem, how to pay for a renovation may be your main concern.
Consultants from three different firms on Tuesday conducted a special presentation for the Westfield City Council about their investigation into the city’s finances and operations.
Behind the Fed’s new thinking is an ailing economy in the grip of a viral pandemic and a stubbornly low inflation rate that has long defied the Fed’s efforts to raise it.
The Dow Jones industrial average, which tracks 30 large, publicly traded companies, is replacing three of the stocks.
Since February, there has been a $1.3 trillion jump in money kept in checking accounts—a 56% increase tracked by the Federal Reserve.
Banks are now facing tens of billions of dollars of loans that appeared healthy in March, but are now in forbearance or deferral because those borrowers can no longer pay.
