Investors watching more than rate hikes from Federal Reserve
There isn’t much suspense about what the Fed will announce regarding a rate hike when its latest policy meeting ends Wednesday. But economic observers are watching for additional reasons.
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Trump administration calls for overhaul of Wall Street rules
The changes, outlined in a report released by the Treasury Department, urge federal agencies to re-write scores of regulations that bankers have frequently complained about in the seven years since the passage of the Dodd-Frank Act.
Expect two more Federal Reserve rate hikes in 2017, economists say
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
Brokerage resolves complaint with Skinner family for $3.5M
A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.
U.S. House poised to roll back post-2008 financial rules
Republicans say many requirements imposed under what is known as the Dodd-Frank Act, named after its Democratic sponsors, have harmed economic growth by making it harder for consumers and businesses to get loans.
Lumina kicks venture capital arm into high gear
Over the past year, Indianapolis-based Lumina Foundation has aggressively moved in a novel direction for a grant-making not-for-profit, funneling more of its $1.2 billion endowment into venture capital.
Landlord’s Marsh bet leaves trail of foreclosures
Landlords across Indiana are feeling the pain from the collapse of Marsh Supermarkets, but none more so than a Canadian firm that had as many as 12 of the grocer’s stores in its portfolio.
Michigan company wraps up $211M Stonegate Mortgage acquisition
The sale marks the end of Stonegate’s stint as an Indianapolis-based public company. A number of Stonegate executives resigned from their positions just prior to the completion of the merger.
U.S. consumer spending, incomes show another monthly increase
Americans increased their spending in April at the fastest pace in four months, bolstered by a solid gain in incomes.
California man accused of defrauding former Colt of more than $4.5M
Kenneth Ray Cleveland stands accused of defrauding a 13-year NFL player while serving as his financial adviser.
Retailers cheer GOP retreat on ending debit card fees limit
Restaurants, grocers and other businesses celebrated Thursday as House Republicans backed off efforts to eliminate the cap on fees that banks can charge retailers when customers use debit cards.
Target settles data-breach lawsuit with 47 states for $18.5M
Indiana will be among the states receiving money to settle state lawsuits over a 2013 hack of the retailer’s database in which the personal information of millions of customers was stolen.
OurHealth raises $37M, plans to hire 480 workers
The privately held company operates 32 clinics for employers in Indianapolis, Chicago, Nashville and other cities. The new funds will allow it to expand and invest in data, marketing and business development.
U.S. households accumulate record amount of debt
Americans have stepped up borrowing over the past three years, yet the nature of what Americans owe has changed since the Great Recession.
Real estate crowdfunding firm graduates to first apartment property
A local startup with about 100 investors is making bigger acquisitions by progressing from rental homes to apartments, starting with a complex in Garfield Park.
Analysts struggled to predict Anthem-Cigna outcome (but don’t tell them that)
The proposed $48 billion merger of Anthem and Cigna kept Wall Street experts guessing for months.
High court backs bids to collect outdated debt in bankruptcy
A divided U.S. Supreme Court has ruled that debt collectors can use bankruptcy proceedings to try to collect liabilities that are so old the statute of limitations has expired.
Changing times for the bank branch
In-branch transactions are declining as customers complete more business via online and mobile banking. Still, banks say physical offices remain important for a variety of reasons.
Celadon in danger of delisting by NYSE because of reporting failures
The delinquency occurred when Celadon’s auditor, BKD LLP, withdrew its reports on the trucking company’s financial statements for the periods ending June 30, Sept. 30 and Dec. 31 of 2016.
Carmel biotech firm lands $8M in venture capital, grant funds
Founded in 2006, Fast BioMedical Inc. plans to use the money to help advance clinical trials and hire additional workers. It develops technologies to measure blood volume and kidney function.