All big banks pass latest Federal Reserve ‘stress tests’
All 23 of the nation’s biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday.
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Ally Financial becomes first large bank to end all overdraft fees
The bank cited specifically the impact that overdraft fees have on Black and Latino households, which are historically poorer than their white counterparts and are hit with overdraft fees more often.
First Internet Bank beefs up small-business lending division with new hires
Fishers-based First Internet Bank began assembling its Small Business Administration lending division in late 2018.
Mickey Maurer steps down as chairman of National Bank of Indianapolis
Greg Maurer, who has served on the bank’s board since 2013, will take over as chairman.
Are cryptocurrencies on the verge of going mainstream?
The Office of the Comptroller of the Currency, which regulates federally chartered U.S. banks, has recently given banks the go-ahead to engage in certain types of cryptocurrency transactions.
Bank deposits soar as customers save instead of borrow
High levels of uncertainty, along with other pandemic-related factors, have pushed U.S. commercial bank deposits to record highs since the beginning of the year.
Study finds inequities in lending in majority-Black neighborhoods
Although redlining—discrimination in banking and lending based on someone’s race or where they live—has been illegal since the Fair Housing Act passed in 1968, analysts at Indiana University’s Public Policy Institute found that inequities in home-loan lending still exist.
Bank profits remain resilient despite lingering pandemic
The health of the banking sector is a proxy for the U.S. economy, since the banks’ fortunes largely rise or fall depending on whether borrowers are repaying their debts.
JPMorgan Chase to pay $920 million in illegal trading settlement
The settlement, the largest ever imposed for this type of fraudulent activity, known as spoofing, resolves investigations by the Justice Department, the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Lucas White: Credit unions have unfair advantage over banks
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.
Four ways to pay for home renovations
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.
Treasury ramps up auctions as borrowing, virus surges
The Treasury Department will ramp up the size of the bonds and other securities it auctions across-the-board in the face of the unprecedented borrowing needs.
Pandemic spurs consumers to flock to digital banking
But bankers say bricks-and-mortar branches are still important for a variety of reasons.
Indiana-based banks didn’t cede PPP loans to big rivals
Of the 20 banks issuing the most PPP loans to Indiana borrowers, 11 were headquartered in the state—many of which went to extraordinary lengths to extend as many loans as they could.
Banks set aside billions, bracing for more economic pain
The results from JPMorgan Chase, Wells Fargo and Citigroup on Tuesday offer perhaps the broadest glimpse yet into how badly the pandemic is affecting the financial health of American consumers and businesses.
Banks snared in race conversation, confronted by bleak legacy
On the sidelines of protests, organizers are spreading the word about the role of banks in some of the worst chapters of U.S. history, from financing slaveholders to systemic discrimination in 20th century mortgage lending.
Indiana credit unions pursue growth by buying banks
The banking industry, which argues that credit unions’ tax-exempt status gives them an unfair edge, objects to the trend.
Indiana banks sock away extra money for COVID-19-related loan losses
Amid the widespread economic disruption caused by the pandemic, banks have already granted payment deferrals of up to six months to a significant number of commercial and individual borrowers.
SBA temporarily stops taking PPP applications from big banks to focus until midnight on smallest lenders
For an eight-hour period that began at 4 p.m. Wednesday, the PPP loan application portal is being reserved only for the nation’s smallest lenders: those with assets of less than $1 billion.
Banks say they’ll give commercial borrowers extra time
But the bankers also say it’s unclear how the pandemic might affect commercial customers—and the banks themselves—in the longer term.