Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.
Banking & Finance
Articles
Church accuses JPMorgan of mismanagement, self-dealing
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
$500M Indy justice center relies on novel funding
The city will pay an annual fee to a private-sector consortium that will design, build, finance, maintain and operate the facility. According to the Ballard administration, the project won’t require a tax hike.
New Simon VC arm making bets on retail technology
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
Finance company cutting 170 jobs in Evansville
Springleaf Finance, a division of Springleaf Holdings Inc., has told state officials that it will permanently close its 170-worker mortgage servicing center in Evansville.
Bank of America close to record settlement with U.S.
Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday.
Walgreen turns down inversion, to keep HQ in U.S.
The nation's largest drugstore chain said it will no longer pursue an overseas reorganization that would have trimmed the amount of U.S. taxes it pays.
Plea deal rejected for ex-Indiana county auditor
Lawyers are reworking an agreement under which a former county auditor in Indiana was expected to plead guilty to criminal charges of wrongly paying personal expenses with county-issued credit cards.
Not so golden: Wealth gap lasting into retirement
With traditional pensions becoming rarer in the private sector, and lower-paid workers less likely to have access to an employer-provided retirement plan, there is a growing gulf in the retirement savings of the wealthy and people with lower incomes.
Stock market plunges as multiple worries vex investors
The stock market fell in early trading after a dose of bad earnings news, and the losses accelerated throughout the day. The three major indexes suffered their biggest losses in months.
Investor reimbursement fund off to slow start
Time required for investigations, prosecutions caused delays.
Banks beckon wary millennials
Institutions have uphill climb to build trust with generation scarred by financial crisis.
Fed offers no clearer hint on first rate increase
The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it's offering no clearer hint of when it will start raising its benchmark short-term interest rate.
Soldiers get $92M in debt relief under settlement
Thirteen states, including Indiana, have settled an investigation into improper lending with a court agreement that is expected to provide $92 million in debt relief for 17,800 U.S. military personnel.
Study: 35 percent in U.S. facing debt collectors
More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
Mitchell departs state job for treasurer’s race
Kelly Mitchell announced Friday she was leaving her job as an investment director in the state treasurer's office Aug. 1.
First Internet reports smaller quarterly profit
A slide in mortgage-banking income hurt earnings, but net-interest income, commercial loans, deposits and assets were all on the rise.
First Merchants acquires Noblesville-based bank
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
Financial planner parlays meals for clients into money lessons
Joe Clark says the two things that seem to matter to people the most are food and money. He has found a way to combine the two, cooking for client families in their homes once or twice a month as he answers questions and gets to know them better.
House votes to extend moratorium on Internet taxes
Under current law, the moratorium expires Nov. 1, exposing Internet users to the same kind of connection fees that often show up on telephone bills.