Yellen suggests rate hike is coming but offers no timetable
Federal Reserve Chairwoman Janet Yellen sketched a generally upbeat assessment of the economy in a speech to an annual conference of central bankers in Jackson Hole, Wyoming.
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OneAmerica to dissolve mutual funds
OneAmerica Financial Partners Inc. is getting out of the mutual-fund-management business after 26 years—dissolving four funds with a total of more than half a billion dollars in assets.
SEC fines private-equity firm where Bayh works record $53M
Apollo Global Management LLC—the private-equity firm where U.S. Senate candidate Evan Bayh is a senior adviser—will pay $52.7 million to settle allegations that it made misleading disclosures about fees.
About 2,800 Hoosier borrowers eligible for HSBC reimbursements
Borrowers whose mortgages were foreclosed upon between 2008 and 2012, with servicing abuses by HSBC, are eligible for part of the $470 million federal-state settlement with the lender.
Old National Bank names new local chief executive
Mark Bradford has been named CEO of Old National’s Indianapolis Region, replacing Randy Reichmann, who held the position for more than decade.
Crowdfunding rules for smaller investors foil firms
New federal rules designed to make it easier for small investors to use crowdfunding have hardly gotten traction in Indiana.
Hogsett seeks to eliminate city pensions
Mayor Joe Hogsett wants to replace traditional pensions for future employees with a retirement option more like a private-sector 401(k) as a way to help erase the city’s multimillion-dollar deficit.
Growing Missouri bank opens commercial office in Indy
Commerce Bank, which has operations in at least 11 states, tapped a local banking veteran to lead the new office, which is based on the north side.
File-management software firm grabs $1.1 million in first VC haul
SmartFile Inc. secured the investment from Vision Tech Angels and Elevate Ventures. It plans to use a majority of the cash on sales and marketing.
S&P 500, Dow, Nasdaq hit records together for first time since 1999
All three U.S. stock benchmarks rose together to record highs for the first time in 16 years on Thursday amid surprising earnings.
Judge rejects Durham’s bid to dismiss SEC civil suit
The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
Logan’s Roadhouse files for bankruptcy, plans closures
The operator and franchiser of more than 250 roadhouse-themed restaurants, including four in the Indianapolis area, said it plans to close 18 under-performing restaurants as part of the reorganization plan.
Prosecutor: No charges in Ball State investment scandal
Criminal investigations of former Ball State investment director Gale Prizevoits by federal prosecutors and the Indiana Secretary of State also produced no charges.
Stonegate Mortgage reports big second quarter loss
The Indianapolis-based company’s CEO attributed the $17.2 million loss to “continuing volatility within the financial markets.”
JPMorgan settlement with Indiana draws interest of other states
JPMorgan Chase & Co. has reached a settlement with Indiana regulators related to its asset management business, and now other states are expressing interest in how Indiana built its case.
New venture firm Charmides off to blazing start
Charmides, one of the area’s newest venture capital funds—was launched in June 2015 by a 27-year-old basketball player from Carmel and his father.
Financial veteran to lead Centra Credit Union
Columbus-based Centra Credit Union, one of the largest Indiana-based credit unions, announced in late June that it named Rick Silvers as CEO.
First Internet Bancorp builds war chest for growth
The bank said it plans to use the $23 million it raised to fund organic growth, possible acquisitions and other corporate purposes.
With financial house in order, CNO branches into investments
The insurer started two new businesses that extend its reach into the investment world, paving the way for its salespeople to sell insurance, securities and advice.
Fed keeps rates steady but sees less risk to U.S. economy
The central bank gave no hint of when it might resume the rate hikes it began in December, when it raised its benchmark rate from a record low.