In-store bank branches fall out of favor
The number of in-store bank branches—mostly at grocery stores—has been trending downward for years, and in the coming months they’ll be all but gone from Indianapolis.
Banking & Finance
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Does Biglari’s Steak n Shake storyline rewrite history?
Steak n Shake's parent company quotes longtime director Ruth Person as calling the period before Sardar Biglari took the helm "the scariest of times." But the CEO back then said the burger chain was on solid financial footing.
Bill addressing foreclosure-prevention options under fire
An Indiana law that has helped thousands of residents at risk of foreclosure keep their homes could be "gutted" under a bill being considered by state lawmakers, housing advocates say.
Blue Pillar moves HQ, leads Indiana tech fundraising
Blue Pillar Inc., which sells energy management software, has raised almost $14 million this year, putting it atop Indiana tech companies in 2014.
Indy’s federal home loan bank still admitting REITs
The Federal Home Loan Bank of Indianapolis is again admitting mortgage-investment firms as members, even as the overseer of the government-chartered system of 12 regional lenders considers barring such companies.
Online pioneer First Internet Bank reaches landmark
First Internet Bank of Indiana, which was founded in 1999 as one of the nation’s first online-only banks, has exceeded $1 billion in assets, it announced Friday.
State’s pensions stung by oil plunge
The drop in oil prices since July left more money in consumer bank accounts, but it was costly to Indiana’s pension funds.
Some banks putting tellers behind remote monitors
“Branch of the future” is a hot phrase in banking circles, as technological changes and consumer habits prompt executives to rethink how much space and employees are needed at branches.
Identities stolen from at least 80 Ball State employees
A local senior home health specialist said he believes the identity thefts are connected to the recent cyberattack on Indianapolis-based health care insurer Anthem Inc., which covers Ball State employees.
Chicago venture capital firm plans local office
Hyde Park Venture Partners plans to establish an Indianapolis office this spring on Monument Circle to be led by former ExactTarget executive Tim Kopp.
Merrill Lynch abruptly parts ways with top financial adviser
Thomas J. Buck, who spent 34 years at the local office of Merrill Lynch while becoming one of the country’s top financial advisers, suddenly split from the firm last week.
Justices side with Labor Department in overtime pay dispute
The U.S. Supreme Court has sided with the Obama administration in upholding a rule making mortgage brokers eligible for overtime pay under federal labor law.
Major credit agencies agree to changes sought by advocates
The three largest credit-reporting agencies say they will change how they handle records, including making the dispute process easier for consumers and providing a waiting period before medical debts are reported.
Dan Laikin agrees to settle Fair Finance suits for $3.5M
The company's bankruptcy trustee said in a court filing that it is "highly doubtful" Laikin would have the financial wherewithal to pay more than the settlement amount.
Bill would educate students about their college loans
Students using loans to pay for college might get some extra help when it comes to gathering information about their debt load if an Indiana House bill becomes law.
Springleaf CEO’s holdings surge to $151M on OneMain deal
Stock held by Springleaf Holdings CEO Jay Levine soared Tuesday after the Indiana-based firm said it would buy OneMain Financial from Citigroup. Still uncertain was how the deal would affect 1,155 Indiana employees after the company moves it headquarters.
Springleaf to move HQ out of state after $4B acquisition
Springleaf Holdings Inc.,a consumer lender that went public in 2013, plans to move its headquarters from Indiana to Connecticut after buying subprime lender OneMain Financial for $4.25 billion in cash.
Dot-com deja vu: Nasdaq tops 5,000, approaching record high
The last time the NASDAQ composite index was this high, Bill Clinton was president and your Internet connection was probably still dial-up.
Stonegate Mortgage closes 2014 with tough quarter
Stonegate Mortgage Corp. finished 2014 with a money-losing quarter that fell short of Wall Street expectations.
Reeling developer dumps ‘worthless information’ on court
A judge ordered HDG Mansur chief Harrold Garrison to appear in court after creditors charged he is dodging their requests for information and filed a contempt motion.