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.
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Auto industry strength boosts Indiana’s outlook
Economists at BMO Harris Bank are projecting “above average” growth for Indiana this year, citing a stronger auto sector and a healthier housing outlook.
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.
Yellen to investors: Expect continuity at the Fed
Federal Reserve Chair Janet Yellen sought Tuesday to reassure investors that she will support the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month.
Smith shuns retirement for stint as Chase Indiana chair
Local banking veteran and community leader Albert J. Smith Jr. is eight years older than his predecessor, who retired in January.
Architecture firm closing, renovated HQ on block
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
Upstate bank expands central Indiana presence
Warsaw-based Lake City Bank has opened a 3,700-square-foot branch on the northeast corner of State Road 37 and 131st Street.
Bill meant to protect credit scores considered by committee
Senate Bill 175 would restrict the use of credit checks in reducing credit scores.
Old National to pay $500,000 civil penalty
The Office of the Comptroller of the Currency in June 2012 said it had identified "deficiencies in the Bank's overall program" for complying with the Bank Secrecy Act.
Average 30-year mortgage rate climbs to 4.48 percent
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.
U.S. credit card info is easy pickings for hackers
Incidences like the recent data theft affecting 40 million Target customers could become more common as retailers, banks and credit card companies argue over who should pay for security upgrades.
How Fed’s pullback of stimulus could affect you
The Federal Reserve's move Wednesday to slow its stimulus will ripple through the global economy. But exactly how it will affect people and businesses depends on who you are.
Fed to reduce bond purchases by $10B in January
The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The Fed will trim its $85 billion a month in bond purchases by $10 billion starting in January.
Pressure on legislature to address abandoned homes
Banks are pushing for reform to the state’s process for home foreclosures.
Suit slams ex-insiders of Bank of Indiana
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
’12 Days of Christmas’ items top $114,000
The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol "The Twelve Days of Christmas" still cost the same as they did last year.
Bank tells tardy borrowers to get job—and offers to help
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.
First Internet up-shifts in commercial lending
First Internet Bank raised eyebrows this month when it filed a $25 million secondary stock offering said to be for organic growth and “other general corporate purposes.”
Local hotelier files for bankruptcy on 7 properties
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
Fee push helping banks overcome low interest rates
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.