Commercial-property loans coming due in U.S. jump to $929 billion
Nearly 20% of outstanding debt on US commercial and multifamily real estate will mature this year, requiring refinancing or property sales.
Banking & Finance
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Loyalty points are crypto’s new bait
The fledgling points programs already have their detractors, with many users bemoaning a lack of transparency—most haven’t explained how their points can be used—while experts warn they may pose regulatory risks of their own.
Alternative investments—real estate, crypto, private equity—catch on with individual investors
For a variety of reasons, including a slowdown in initial public offerings and increasing accessibility, alternative investments have been gaining traction with a wider range of individual investors over the last several years. And experts believe the trend will continue to grow.
Regions Tower owners face $75M foreclosure suit after missing loan deadline
In addition to its foreclosure demand, Wilmington Trust has requested the appointment of a new receiver for the 685,000-square-foot, 36-story property.
Some Americans saddled with credit card debt as rent, everyday prices remain high
Economists and experts see rising delinquencies as one of the growing risks to the economy this year, especially if student loans become too much for younger, debt-burdened Americans to handle.
With its triple-tax benefits, the humble HSA emerges as a retirement savings powerhouse
Increasingly, benefits brokers and personal-finance experts are advising people use cash to pay for health care and investing the HSA funds for decades.
New Purdue appointee says university has global role
Named as a fellow to the Daniels School of Business, former World Bank President David Malpass said the “world would benefit from Purdue’s engagement … in terms of its expertise in business, in semiconductors, in climate science, in engineering.”
Housing affordability near record low hits Black buyers particularly hard
Almost half of Black home buyers in 2022 were first-time buyers, and newcomers haven’t benefited from the rising home equity that could help defray swelling sale prices and lending costs.
With rebranding, Indy’s largest private company launching first-ever ad campaign
The “refresh” aims to address a key challenge—public misperception as to what OneAmerica Financial actually does.
Struggling Alpine 4 jettisons subsidiaries
Alpine 4 Holdings Inc., whose subsidiaries include Indianapolis-based RCA Commercial Electronics, says it is struggling “with unparalleled challenges.”
Indianapolis-based angel investor group had banner year amid 2023 slump
VisionTech reported this week that it invested a total of $2.88 million into 18 different companies last year, representing an increase in both the number of deals and the total value of deals from 2022.
Economy grew at surprisingly strong 3.3% pace last quarter
Thursday’s report from the Commerce Department said the gross domestic product—the economy’s total output of goods and services—decelerated from its sizzling 4.9% growth rate the previous quarter.
Cease-and-desist order issued against Carmel financial firm, CEO
The Indiana Secretary of State’s Office has issued a cease-and-desist order against Carmel-based ReJoyce Financial LLC, its CEO Alexander Joyce, and two other parties.
Average long-term mortgage rate falls to lowest level since May
Home loan borrowing costs have been mostly coming down since late October, after the average rate on a 30-year mortgage surged to 7.79%, the highest level since late 2000.
Coalition touts bills to improve consumer lending in Indiana
Hoosiers for Responsible Lending on Wednesday hosted a press conference lauding two pieces of legislation at the Statehouse that they said would significantly improve consumer lending policy in Indiana.
Overdraft fees could drop to as low as $3 under new White House proposal
The proposed change by the Consumer Financial Protection Bureau would potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
Banks prepare to take on Biden administration over billions in overdraft fees
The Consumer Financial Protection Bureau is expected to propose rules this week that would further rein in banks’ ability to charge customers a fee when they overdraw their bank account.
Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Millennials find way to buy houses: Living with mom and dad
Hunkering down with family offers breathing room to save for a home. The trade-off comes down to temporarily relinquishing a measure of independence to achieve a milestone increasingly out of reach for people their age.
Musk leads world’s richest to $1.5 trillion wealth gain in 2023
No one did better in 2023 than Elon Musk, who recaptured the title of world’s richest person from French luxury tycoon Bernard Arnault.