The Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought and faces increasing risks.
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Lobby prepares new pitch for next legislative session.
Fair Finance Co.’s bankruptcy trustee sued Shelbyville’s SCB Bank this week, charging it refuses to turn over hundreds of thousands of dollars it raised by auctioning off one of Tim Durham’s most valuable automobiles, a 1929 Duesenberg.
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.
PNC Financial, which has 88 Indianapolis-area branches, reported a nearly 13-percent increase in second-quarter earnings, as the regional bank set aside far less money to cover bad loans.
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Emmis' sale of two stations in Chicago and one in New York City will allow the company to chop more than $100 million off its $331 million in long-term debt—clearing the way for it to arrange a refinancing under favorable terms.
It's not yet clear who submitted the winning bid for the 188-room hotel, which is near Interstate 465 and Pendleton Pike.
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
Centier Bank, a financial firm with 45 branches in northwest Indiana, has opened a business banking office in Carmel and is considering future expansion in the Indianapolis-area market.
City would become third U.S. location for lender that makes small business microloans to the poor.
Expensive personal credit undermines credit scores and ultimately the odds of more traditional lending.
Improved economy, loosening credit standards are driving increased lending.
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
The operator of the building at 8424 Naab Road near St. Vincent Hospital is accused of owing an Illinois investment firm $4 million.
Dimon believes boards and regulators “are more attentive to risk” now—a duty that was sadly trumped by greed and indifference in the years leading up to the credit crisis.
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
