Fed official sees hints of too-low inflation moving up
Federal Reserve Vice Chairman Stanley Fischer said Monday that inflation in the U.S. may be starting to tick up from too-low levels, a key condition for further interest rate hikes.
Banking & Finance
Articles
Former investment broker sentenced to one year
Ronald W. Nichter, 60, was found guilty of siphoning more than $160,000 from the investment accounts of 14 clients, including several who lived in Anderson, Pendleton, Greenfield and Shirley.
Bond bank will manage Carmel debt
Carmel Mayor Jim Brainard is trying to streamline the city’s debt management with a new Local Public Improvement Bond Bank. But it’s not clear whether his method in creating the bond bank, his choices for key positions, and his proposed combination of smaller bonds follow state guidelines and best practices.
Indiana tax preparer pleads guilty to $1.5M in fraud
A local tax-preparation business owner has pleaded guilty to instructing his employees to prepare more than 2,300 false client tax returns worth $1.5 million.
Credit unions shed wallflower image, tread on banks’ turf
Some big Indiana credit unions are ramping up growth, undaunted by the increasingly competitive banking landscape.
Salin taps banking veteran to lead wealth management
In his new role, John W. Coughlin, a 25-year-veteran of Indianapolis banks, will drive the bank’s investment, retirement, trust and estate, and insurance services strategies.
JPMorgan Chase agrees to $905,000 settlement with state
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
UPDATE: Proposal to raise payday lending rates fails
The proposed amendment would have made it legal for payday companies to offer six-month loans of up to $1,000 at an annual interest rate of 180 percent.
Indiana probing JPMorgan’s church trust practices, sources say
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
Indy angel group gets aggressive with school startups
Indianapolis-based Vision Tech Angels has always invested in startups born at universities, by way of invitation. Now it’s flipping the script and seeking them out.
$10M Purdue Startup Fund aimed at business creation
While the university already has several funding competitions and programs to help advance startups, the Startup Fund presents an opportunity for alumni to become even more engaged.
Stocks continue plunge as investors fear global turmoil
U.S. stocks fell in midday trading Thursday, with the Dow Jones Industrial Average losing more than 300 points, as investors shunned risk worldwide.
Technology stocks lead way as market tumbles
Slowing job creation helped send the tech-heavy Nasdaq down 3.3 percent Friday. The Dow shed 1.3 percent.
Goodwill lands $2.5 million donation from Columbus family
Goodwill Industries Foundation of Central Indiana has received a $2.5 million donation from the Martha G. Davis Family Trust, the local not-for-profit announced Wednesday.
Geofeedia nets $17 million in latest funding round
The fast-growing company, which has its technology hub in Indianapolis, plans to deploy the cash across all segments of its business.
U.S. House passes bill to shelter munis from threat of bank rule
The U.S. House of Representatives approved a bill by a voice vote that would force banking regulators to classify investment-grade municipal bonds as liquid assets. The bill was written by Rep. Luke Messer, an Indiana Republican.
Not everyone in tech wants venture cash
It’s immensely difficult for tech firms to quickly build and sell technology software or hardware without a sizable venture war chest. Nevertheless, at least a few central Indiana firms have managed to grow at a healthy pace without trading equity stakes for cash.
Believers in Noble Roman’s see groceries as super market
The Indianapolis company has been trying to juice growth by franchising stand-alone take-and-bake pizza stores and by selling freshly made take-and-bake pizzas in grocery stores nationwide.
Fed voices concern about global economic pressures
Six weeks after it raised interest rates from record lows, the Fed took stock of a more perilous international picture that could alter its plans for further raising rates.
Investment broker’s plea deal erases 20 felony counts
Robert E. Wilson of Indianapolis originally faced up to eight years in prison on 20 securities-related felony counts. Under a plea agreement, he’ll serve six months probation on one misdemeanor count.