Indiana green-energy fund begins lending for renewables, efficiency projects
The commercial lending program targets Hoosier businesses, not-for-profits and governments to help lower their energy costs.
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SEC fines firms $393M in latest WhatsApp probe cases
The fines add to the billions of dollar that big banks previously agreed to pay the SEC and the U.S. Commodity Futures Trading Commission to settle similar investigations into use of messages on personal phones and WhatsApp.
Financial firm with Fishers office accused of operating Ponzi scheme
The U.S. Securities and Exchange Commission has obtained a preliminary injunction and asset freeze against Drive Planning LLC, which is accused of operating a $300 million Ponzi scheme.
Indianapolis-based financial wellness firm lands $4.5M venture investment
Local financial planning guru Peter “Pete the Planner” Dunn said the funding will help his company accelerate the development of an artificial-intelligence powered tool that will offer customized financial coaching.
Homeowners race to refinance as mortgage rates retreat from 23-year highs
Refinance applications were up nearly 60% nationally versus the same week last year, but applications for loans to buy a home are still down from a year ago.
New High Alpha startup offers financial services to fellow startups
Topo Advisors was founded by its CEO, Tim Page, who formerly helped advise High Alpha portfolio companies when he worked as finance manager at the venture studio.
Fast-growing MBX Biosciences raises another $63.5 million in funding
MBX is focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity.
Dow drops 860 points, Japanese stocks suffer worst crash since 1987
Nearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
Credit union regulator issues employment ban against Carmel man
Jose Prado-Valero of Carmel pleaded guilty to financial institution fraud in April and is serving a federal prison term.
Fed Chair Powell says September interest rate cut could be ‘on the table’ as inflation cools
Federal Reserve Chair Jerome Powell said Wednesday that the upcoming elections would have no influence on the Fed’s decisions.
Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
Amid tensions, some states are purging Chinese companies from their investments
Indiana last year became the first to enact a law requiring the state’s public pension system to gradually divest from certain Chinese companies.
Federal appeals court blocks remainder of Biden’s student loan relief plan
The ruling comes the same day that the Biden administration announced another round of student loan relief, this time totaling $1.2 billion in forgiveness for roughly 35,000 borrowers who are eligible for the Public Service Loan Forgiveness program.
Agency says apps that let workers access paychecks before payday are providing loans
The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks should be subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees.
Capital One offers $265B benefit plan to appease regulators for planned purchase of Discover
Capital One said it plans to buy and merge with Discover Financial Services, which will create the seventh-largest bank in the country as well as the largest credit card company. Capital One would also acquire Discover’s payment network, a rare asset.
Widespread rally sends Wall Street to record as Dow leaps 740 points
Unlike other record-setting days, Tuesday’s came after a widespread rally where nearly nine out of every 10 stocks in the S&P 500 rose, instead of just the handful of influential Big Tech stocks.
Powell says Federal Reserve more confident inflation slowing toward target
In his remarks Monday, Federal Reserve Chair Jerome Powell stressed that the Fed did not need to wait until inflation actually reached 2% to cut borrowing costs.
Federal regulators fine Citigroup $136M for failing to fix internal control issues
The Federal Reserve and the Office of the Comptroller of the Currency said Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank’s risk and control issues.
Target to stop accepting personal checks from shoppers
Check usage has been in decline for decades as Americans have largely switched to paying for their services with credit and debit cards.
Fifth Third Bank to pay $5M to settle auto insurance allegations
Consumer Financial Protection Bureau Director Rohit Chopra said the bank had been “illegally loading up auto loan bills with excessive charges,” with about 1,000 families losing their cars to repossession as a result.