Articles

First Merchants accused of overdraft fee violations

A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers’ transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.

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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.

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Mayor suspends land bank after indictments

Indianapolis Mayor Greg Ballard on Wednesday sidelined a city program that sells vacant and tax-delinquent properties, one day after federal prosecutors indicted two of its top officials for allegedly accepting bribes and kickbacks.

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