Supreme Court takes up housing bias case
The justices agreed Thursday to take up a case that challenges the theory that certain housing or lending practices can illegally harm minority groups, even when there is no proof of intent to discriminate.
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Kevin O’Toole has been named CEO of Managed Health Services, an Indiana-based unit of St. Louis-based Centene Corp. Managed Health Services administers health benefits for Hoosiers enrolled in Medicaid and the Healthy Indiana Plan, and also sells individual health insurance on the Obamacare exchange. O’Toole replaces Patrick Rooney, who has been promoted to senior vice president of health plans at Centene, overseeing five states, including Indiana. O’Toole joined Centene in 2012 as vice president of health plan operations in St. Louis. He previously worked as vice president of operations of Medco Health Solutions Inc. in Tennessee. O’Toole has a bachelor’s degree in microbiology, a master’s of health administration, and an MBA, all from the University of Missouri-Columbia.
Veteran investment banker switches firms late in game
John Reed, 70, one of the state’s leading experts in bank mergers and acquisitions, starts a new job Monday with City Securities Corp. after 23 years with the local office of Chicago-based David A. Noyes & Co.
ATM, overdraft fees keep climbing, bank survey says
The average fee for using an out-of-network ATM has vaulted 23 percent over the past five years. It has notched a new high for eight years in a row.
Former Indy Chamber exec joins Old National
Former Indy Chamber President John Myrland has been hired by Old National Bank in the new position of community engagement executive for its Indianapolis region, the bank announced Thursday.
Bank to give homebuyers $15K for down payments
Wells Fargo is unveiling a $4.5 million program in Indianapolis that would provide a huge chunk of up-front money for eligible homebuyers.
Nation’s banks continue robust recovery as lending picks up
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.
Lender files to foreclose on downtown’s Villagio condos
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.
Church accuses JPMorgan of mismanagement, self-dealing
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 close to record settlement with U.S.
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.
Banks beckon wary millennials
Institutions have uphill climb to build trust with generation scarred by financial crisis.
First Internet reports smaller quarterly profit
A slide in mortgage-banking income hurt earnings, but net-interest income, commercial loans, deposits and assets were all on the rise.
First Merchants acquires Noblesville-based bank
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
Yellen says economy still needs Fed support
Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
First Financial nabbing new hub, closing 3 branches
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.
High court sides with Fifth Third employees in dispute
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.
Indiana man pleads guilty in fake credit union case
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
Fed slows bond buying with fifth monthly reduction
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support.