Terre Haute Savings Bank v. Indiana State Bank

Petitioners-appellees Indiana State Bank, The Merchants National Bank of Terre Haute and Terre Haute First National Bank (Petitioners) filed a complaint with respondent-appellee The Department of Financial Institutions of the State of Indiana (Department), alleging that respondent-appellee Terre Haute Savings Bank (Respondent) was offering checking account services in violation of law, and praying for a cease and desist order against Respondent.

After notice and hearings, the Department found that Respondent could lawfully offer checking account services, that it was not engaging in any unsafe…