Greenwood man pleads guilty, gets 10 years in prison for $3M fraud schemes
James Henley, 35, pleaded guilty to multiple charges in the schemes, including money laundering, aggravated identity theft and wire fraud.
Banking & Finance
-
Will Indiana join a wave of states offering new retirement savings option?
According to the U.S. Bureau of Labor Statistics, 30% of private-sector workers do not have access to a defined-contribution retirement plan through their employer.
Read More -
Q&A with First Internet Bank’s David Becker on apprenticeships as workforce training
Becker expects the bank’s apprenticeship program will gain momentum when changes to the high school diploma take effect, beginning with the class of 2029 (current eighth-graders).
Read More -
Civic leader, prominent attorney Robert H. McKinney dies at 98
McKinney’s name adorns the Indianapolis law school where he enrolled after World War II, and his presence has been felt throughout Indiana for more than 75 years, whether as an attorney, entrepreneur, banker, public servant, or civic leader.
Read More -
Carmel City Council OKs $19M TIF bond for Proscenium III project
Plans for the project call for 120 apartments, a 125-room high-end hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
Read More
Articles
Federal Reserve holds rates steady, sees inflation as ‘elevated’
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed.
Financial Center to absorb Post Office Credit Union in merger
Financial Center First Credit Union, which is among the Indianapolis area’s largest credit unions, plans to merge with the Indianapolis Post Office Credit Union.
Financial woes affect employees at work, new survey says
In a new report from Indianapolis-based Your Money Line, 61% of respondents reported constant financial anxiety and 84% said their financial concerns contributed to feelings of exhaustion and burnout.
Banks could see M&A growth in 2025 with more favorable regulatory environment
Will more Indiana-based banks will be included in M&A deals this year? Probably. And if recent trends hold true, those deals likely will involve Indiana banks acquiring out-of-state institutions, not other Indiana banks.
Medical software provider hc1 completes $6.25M funding round
The company said the funds would help it take advantage of its technology and expertise after its recent acquisition of Accumen, a Scottsdale, Arizona-based health care consultant.
Financial advisers in demand in digital age
The industry is in expansion mode, with job growth expected to significantly outpace overall U.S. job growth over the next several years.
U.S. payrolls growth picks up, unemployment rate drops
The U.S. economy in December added the most jobs since March, capping a surprisingly strong year and supporting the case for a pause in Federal Reserve interest-rate cuts.
OneAmerica pledges to raise base pay rate to $22 per hour
Indianapolis-based OneAmerica Financial, the city’s largest private company, announced Wednesday that it will raise its minimum pay rate to the equivalent of $22 per hour for all full-time employees by March.
Indianapolis tech startup Stellar lands $2.7M in seed funding
The seed round was oversubscribed, meaning Stellar Technology Services attracted more investor interest than anticipated.
Federal consumer agency bans unpaid medical bills from credit reports
The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, according to the bureau.
Crypto’s $205 billion stablecoin market set to go mainstream
Mainstream players such as Visa and PayPal are making investments in projects involving stablecoins, a different type of cryptocurrency whose price is never meant to rise or fall.
Treasury says Chinese hackers remotely accessed workstations, documents in ‘major’ cyber incident
The revelation comes as U.S. officials are continuing to grapple with the fallout of a massive Chinese cyber-espionage campaign known as Salt Typhoon.
Marion County foreclosures on the rise, new report finds
Rising home prices and interest rates, higher insurance premiums and other factors are putting more homeowners under extreme pressure to keep up with payments, according to the report.
Average 30-year mortgage rate climbs to 6.85%, highest since July
While sales of previously occupied U.S. homes rose in November for the second straight month, the housing market remains in a slump and on track for its worst year since 1995.
Is the run of bank branch closures ending? Maybe.
Even in the era of online banking, banks say they still value the physical location, and several are making significant investments in expanding and improving their branch networks.
UPDATE: Japan’s Softbank plans to invest $100 billion in U.S. projects
Monday’s announcement comes days after Trump vowed to expedite federal permits for energy projects and other construction worth more than $1 billion.
Federal Reserve likely to slow rate cuts with inflation pressures still elevated
Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week’s Federal Reserve meeting.
State retirement oversight board removes BlackRock from portfolio for ESG violations
The board of the Indiana Public Retirement System unanimously voted to replace Black Rock as the provider of global inflation-linked bonds to the system.
Consumer protection agency finalizes rule limiting overdraft fees
The agency estimates the new rule would save consumers about $5 billion in annual overdraft fees, or $225 per household that typically experiences the fees.