Shortly after the Fed's announcement, major banks began announcing that they were raising their prime lending rate from 3.25 percent to 3.50 percent. The prime rate is a benchmark for some types of consumer loans such as home equity loans.
The U.S. Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises.
The U.S. Federal Reserve is poised to raise interest rates Wednesday for the first time in 9-1/2 years. It may not take long to know whether its decision was correct. History is filled with cases when central banks raised rates prematurely, sometimes with dire consequences.
Main Street and Wall Street are fighting the U.S. Federal Reserve over municipal bonds—and they’re gaining ground.
University endowments with some of the highest one-year gains in fiscal 2015 were boosted by investments in private equity, venture capital and real estate, including the fund at Notre Dame.
Emmis Communications Corp. said it received a letter from Nasdaq on Monday notifying the company that its stock had closed below the exchange’s minimum $1-per-share requirement for 30 straight business days.
Until impending patent expirations spurred the company to forgo a dividend increase in 2010, the company had announced dividend increases for 42 consecutive years.
The 48-story Chase Tower, the state’s tallest office building, has more vacant space than it has had in decades. But increasing speculation in the local office market that Salesforce.com will take a big chunk of space there could mean it is poised for a turnaround.
Former Indianapolis Colts player Dwight Freeney can proceed with his lawsuit alleging that Bank of America Corp. was complicit in a fraud scheme that caused him to lose more than $20 million, a judge ruled.
Federal Reserve Bank of St. Louis President James Bullard said the Fed is “going to return to an era where there is a bit more uncertainty about what the committee is going to do, meeting to meeting.”
James P. Hamlett announced plans to step down from the $3 billion pension fund, which provides retirement benefits to clergy and lay church employees nationwide.
The receiver appointed to recover investor losses from an alleged Ponzi scheme said he’s retrieved in five months about 20 percent of what investors were owed, a figure experts say is relatively high at this stage for such cases.
After a rocky two years as a public company, perhaps the best path forward for Stonegate Mortgage Corp.—now that the board has given the company’s CEO and founder his walking papers—is to pull the rip cord and sell the business.
Accelerating increases in auto loan debt and mortgage credit helped propel total borrowings of U.S. households to the highest level since the first quarter of 2010, the Federal Reserve Bank of New York said Thursday.
Carmel-based DemandJump LLC landed venture capital from local investment firms run by former Aprimo CEO Bill Godfrey and by former ExactTarget executive Tim Kopp.
Fort Wayne-based Krouse Kern & Co. will merge with Indianapolis-based Katz Sapper & Miller LLP on Dec. 1, the companies announced Monday.
Karen Miller, CEO of The Farmers Bank of Frankfort, died Nov. 6 after a two-year battle with cancer. She was 60.
Several out-of-town community banks have launched a full-court press on Indianapolis over the past decade and are seeing solid traction. Experts say they’re coming here because per-capita income and populations in their own back yards are growing more slowly and, in some cases, even declining.
The $18 million payout to some 5,000 investors in Fair Finance Co. represents a recovery of about 9 cents on the dollar.
According to the Federal Deposit Insurance Corp., at the end of 2008 Indiana financial institutions had $4.6 billion in small-business loans on the books that originated for less than $1 million. That figure stood at $3.8 billion this past June, about 17 percent lower.
