Overall, the discouraging picture has policymakers and economists keeping a close eye on small and midsize banks, which hold about 80 percent of the overall stock of commercial mortgage loans.
Federal Reserve Chair Jerome Powell said the economy’s strength means the Fed isn’t under pressure to cut rates and can wait to see how the inflation numbers come in.
Hetal Retail, an early-stage software developer based in New York City, has an unusual connection to the Hoosier state—its name was selected in part to honor the Indianapolis bank employee who helped the company get off the ground.
Instead of investing his victim’s money, the plea agreement says, Christopher Turean spent it on gambling and paying down a home equity loan.
In recent years, merchants have grown increasingly vocal about their opposition to credit card fees, which typically amount to about 2% of a purchase and totaled more than $100 billion last year.
Mark Hardwick’s journey as a distinguished Ball State alum continues. He was a key player during the Cardinals’ run of NCAA and NIT appearances, and now he’s CEO of fast-growing First Merchants Bank after nearly 20 years as CFO.
A key question for Federal Reserve Chair Jerome Powell and the 18 other officials on the Fed’s interest-rate-setting committee is how—or whether—recent inflation figures have altered their timetable for cutting rates.
The fabrics and crafts retailer, which has five Indianapolis-area stores, will become privately owned after emerging from Chapter 11 bankruptcy protection.
Ancora Holdings Inc. is pushing for a shakeup in leadership at he Greenfield-based animal health company, which it accuses of delivering poor margins, sluggish product commercialization, negative shareholder returns and poor governance policies.
In an unusual about-face, two veteran Stifel advisers who were expected to be part of the newly formed M&K Legacy Wealth team at Sanctuary called off the move just days after the founding was announced.
The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap.
The IEDC said the Legend Fund will give non-traditional lenders an incentive to provide operating capital to Indiana-based businesses. Eligible lenders could have a portion of the loans they issue purchased by the IEDC, freeing up capital to support more entrepreneurs and small businesses.
The U.S. Chamber of Commerce said it will file a lawsuit to try to prevent the federal agency from capping late fees.
In minutes from the Jan. 30-31 meeting released Wednesday, most Fed officials said they were worried about moving too fast to cut their benchmark interest rate before it was clear that inflation was sustainably returning to their 2% target.
Under Maurer’s leadership, The National Bank of Indianapolis grew into the largest locally-owned bank headquartered in Indianapolis. It ranks among the 10 largest banks operating in central Indiana.
A bill allowing financial institutions to change contract terms on customers without explicit acceptance narrowly passed the Senate on Tuesday with a 28-21 vote.
Brian Simms, who operated Brendanwood Financial Brokerage LLC in Carmel, avoided trial by reaching a plea agreement in what prosecutors said was a fraud scheme involving at least 20 victims.
Both companies have benefitted from Americans’ increased use of credit cards. In the fourth quarter of 2023, Americans held $1.13 trillion on their credit cards, and aggregate household debt balances increased by $212 billion, up 1.2%, according to the latest data.
A New York judge imposed the penalty over what he ruled was a years-long scheme to dupe banks and others with financial statements that inflated the former president’s wealth.
Nearly 20% of outstanding debt on US commercial and multifamily real estate will mature this year, requiring refinancing or property sales.
