Mortgage originators proliferating in Indiana
Numbers surge after elimination of state-specific test; impact on competition, borrowers remains to be seen
Banking Regulations
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Ex-Chase chief to lead state banking agency
Denny Bassett’s appointment to the department that regulates state banks comes just a few months after his retirement as Indiana chairman of JPMorgan Chase & Co.
Savings account rates in Indiana among lowest in nation
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.
Parade of settlements continues for local securities firms
A third securities firm in the region has been slapped with sanctions by federal regulators.
DUNCAN: Dodd-Frank hems in many nonbank lenders
‘Dealer markups’ in jeopardy in push to protect consumers.
Indiana banks finally regain pre-meltdown asset levels
Assets for Indiana banks have risen back to levels seen in 2008, and financial institutions are lending again. But smaller, community-based banks still face an array of challenges that could lead to more consolidation.
FDIC sues executives over Irwin failure
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.
FARRA: Don’t expect big dividends from banks anytime soon
Banks will not return to their status as reliable sources of shareholder dividends for three years or longer.
Indiana credit unions are booming again
Credit unions last year posted record earnings, thanks largely to lower loan-loss reserves, as well as to growing memberships, growing debit cards, selling off mortgages and stealing business loans away from banks, their arch rivals.
U.S. banks to pay $8.5B in mortgage settlement
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
REED: Conditions for bank mergers thaw following long winter
A few Indiana banks enjoy prices in excess of 150 percent of book.
JPMorgan Chase takes fire for ‘hedge,’ $2 billion loss
More than three years after the financial industry almost collapsed, the colossal misfire has been cited as proof that big banks still do not understand the threats posed by their own speculation.
SULLIVAN: New consumer agency could hinder economy
Protection must be balanced with allowing credit to flow
Shelbyville’s SCB Bank scrambles for capital
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.
Lawmakers seek probe into banks’ new debit card fees
A widespread move among major banks to charge customers a fee for using their debit cards has stirred Democratic lawmakers to seek a Justice Department investigation on possible collusion.
Suit says Irwin Union Bank execs missed snowballing risk
The bankruptcy trustee's suit against the top three officers of the bank's parent seeks more than $500 million.
Indianapolis-based banks struggle to emerge from slump
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Indiana banks continue quest for tax consistency
Lobby prepares new pitch for next legislative session.
Cost cutting planned by Integra Bank’s new owner
Old National Bank President Bob Jones said an undetermined number of jobs will be eliminated, with the bulk of them being branch managers and other management positions.
Credit unions gun for more traditional bank business
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.