Banking settlement boosts Indiana heating assistance - 13 WTHR Indianapolis

Banking settlement boosts Indiana heating assistance

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A multi-state settlement involving large banks is helping low-income Indiana residents keep the heat on as the state heads into the cold-weather months.

Indiana has directed about $29 million in funds from that settlement into its Energy Assistance Program, which last year helped nearly 200,000 households pay utility bills. The average benefit was $420.

The money came from a settlement Indiana and 48 other states and the federal government entered into last year with the nation's five largest banks over foreclosure abuses and mortgage-servicing practices.

The Times of Munster reports Indiana's overall share of that settlement was about $145 million. About $100 million of that was directed to Hoosiers who lost their homes to foreclosure and to borrowers who seek to refinance their home loans.

Find out more about the program, including how to apply for help.

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