Indiana Supreme Court reverses, remands motion in improper fee lawsuit
The Indiana Supreme Court reversed and remanded a trial court’s motion to compel arbitration in a banking lawsuit involving improper overdraft fees.
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Yellen to tell Congress US banking system ‘remains sound’
A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation’s banking system “remains sound” and Americans “can feel confident” about their deposits.
U.S. government moves to stop potential banking crisis
The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down.
Stifel sues rival financial firm over mass exodus from Indianapolis office
St. Louis-based Stifel, Nicolaus & Co. Inc is suing a newly formed Indianapolis firm, Sapient Capital LLC, following what Stifel describes as Sapient’s “orchestrated raid” of Stifel’s 96th Street office.
Vladimirova: Policies on ESG issues create tensions for financial institutions
Companies both large and small continue to grapple with how ESG issues affect their risk management, strategic investments and external reporting.
Jurkiewicz: Deposit account security interest can overcome garnishment
As long as the bank takes appropriate steps in response to the garnishment paperwork, the bank’s perfected security interest in the deposit account will defeat any interest asserted by the judgment creditor.
Notre Dame Law dean, Chapter 13 Trustee among bankruptcy fellows
Notre Dame Law School Dean Marcus Cole and John Hauber, Chapter 13 Trustee for the Indiana Southern District, will be among the 39 new fellows inducted into the American College of Bankruptcy in March 2023.
Wells Fargo to pay $3.7B over consumer loan violations
Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
Regions Bank to refund $141M for illegal overdraft fees
Regions Bank for a second time in a decade was found charging illegal overdraft fees, the government said Wednesday, in a settlement that will require the bank to repay $141 million to customers and pay an additional $50 million in fees.
Federal Reserve likely to signal higher rate hikes ahead
The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate—which affects many consumer and business loans—to a range of 3% to 3.25%, the highest level in 14 years.
Product-liability lawsuits against 3M can proceed, Indianapolis judge rules
Indianapolis-based Aearo Technologies LLC’s recent bankruptcy filing won’t shield its corporate parent 3M Co. from the massive flood of product-liability lawsuits over Aeros’ military earplugs, a judge has ruled.
Prosecutors ask for eight-year prison sentence for former financial exec
Prosecutors are asking for an eight-year prison sentence for former financial executive Kerri Agee of Noblesville, who was found guilty in August of four counts of wire fraud and one count of conspiracy.
Comments invited on proposed regulations for bankruptcy trustee payments
Comments are requested by the federal judiciary from members of the public, judiciary and legal community on a set of proposed interim regulations for bankruptcy trustee payments.
HUD complaints allege racial bias in Indianapolis home appraisals
The Fair Housing Center of Central Indiana and Indianapolis resident Carlette Duffy have filed fair housing complaints with the U.S. Department of Housing & Urban Development, alleging Duffy’s home was appraised at a lower value because she is African American.
COA affirms relief from default judgment for defendant claiming identity theft
Default judgment against a man claiming to be the victim of identity theft in a criminal case was properly set aside, the Indiana Court of Appeals ruled Monday. The court held that the man was not required to provide a factual basis for his defense in the initial stages of the proceeding.
COA: Guardian can deposit check but not exercise estate planning
Although an adult guardian properly deposited a check after his ward died, the trial court did not err in denying the guardian’s request to exercise estate planning, the Indiana Court of Appeals has ruled.
Revisiting foreclosure case, COA reaffirms money judgment
A $112,000 money judgment originally upheld in 2019 has been reaffirmed in a second appellate decision issued in the case Tuesday.
Five from Indianapolis area sentenced to federal prison in $8.4M fraud scheme
A Zionsville business owner and four others from the Indianapolis area have been sentenced to federal prison for participating in an $8.4 million fraud and money-laundering scheme, the U.S. Department of Justice announced Friday.
Warrant issued for former University of Evansville coach
A judge has issued an arrest warrant for former University of Evansville basketball coach Walter McCarty after he missed a court hearing in a civil lawsuit filed on behalf of a bank.
NY AG probes if Trump pumped up value of estate, assets
New York’s attorney general asked a court Monday to compel some of President Donald Trump’s business associates, including his son, Eric, to testify and turn over documents as part of her investigation into whether the president’s company lied about the value of its assets in order to get loans or tax benefits.