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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. The customer involved in the fraud is Interlogic Outsourcing, which processes payrolls and is based in Elkhart, Indiana. Shares fell on the news. KeyBank’s five-year, $16.5

Fraud 142
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First Commonwealth in Pa. Hires Consumer Lending Leader

American Banker

First Commonwealth Financial in Indiana, Pa., has hired a former Regions Financial executive to lead several of its consumer lending groups.

Lending 28
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Midwest banks resist urge to loosen lending standards

American Banker

Even in the face of soft loan demand, banks in the region have held firm on terms. That should position them well for the next economic downturn.

Lending 48
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Why Banks Merge: Listen to the Sellers

Jeff For Banks

"Our combined financial institution will offer a wider array of products and services while continuing our long-standing personal commitment to our customers and community." - Gregory Schreacke, President of First Financial Service Corporation in Elizabethtown, KY on his bank''s sale to Community Bank Shares of Indiana, Inc.