State receives $436M loan from EPA for water infrastructure projects
Between the EPA loan and funding from the Indiana State Revolving Fund, more than $900 million will be invested in 28 projects. Indianapolis is the biggest beneficiary.
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U.S. consumer borrowing shows $17.9B August increase
Consumer borrowing increased at a solid pace in August, helped by the biggest jump in auto and student loans in three years.
Hoosiers in best position to pay off credit card debt, study says
Analysts from the personal finance web site WalletHub used data from the U.S. Census Bureau, the Federal Reserve and TransUnion to see how each state is faring when it comes to credit card debt.
First Merchants Bank settles federal lawsuit alleging redlining
According to the complaint, First Merchants “engaged in unlawful redlining in Indianapolis by intentionally avoiding predominantly African-American neighborhoods because of the race of the people living in those neighborhoods.”
Fed foresees no rate hikes amid unusually low inflation
The Federal Reserve signaled that no rate hikes are likely in coming months amid signs of renewed economic health but unusually low inflation.
Controversial payday lending bill dies in House without vote
On the last day for bills to pass out of the Indiana House, the sponsor for Senate Bill 613—Rep. Matt Lehman, R-Berne—declined to call it for a vote.
Amendment to payday loan bill unable to calm community advocates
Even after lawmakers worked hours overnight to craft an amendment to a controversial bill regulating payday and subprime loans, opponents remained frustrated.
Founders, employees of Westfield financial firm accused of $10M fraud
Prosecutors allege that the defendants engaged in a 13-year-long scheme to defraud the Small Business Administration.
Payday lending industry gains upper hand in Statehouse fight
A Senate bill addressing subprime lending, which had a 69-page strip-and-insert amendment released the night before passing out of committee, is headed to the House.
Group launches $15M loan fund for housing near IndyGo stops
The goal is to preserve or spur development of 1,000 affordable housing units within close distance of an Indianapolis transit stop over the next five years.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Black Friday breathing life back into no-interest auto loans
The share of U.S. vehicle sales financed with zero-percent loans has been shrinking, but several automakers are rolling out no-interest loans for Black Friday.
First Internet sees quarterly growth in profit, loans
The Fishers-based bank reported that the quality of its loans improved even as its loan portfolio grew larger. Much of the growth came from commercial loans.
Fed raises rates for third time this year with one more hike expected
The Federal Reserve on Wednesday lifted its short-term rate for the eighth time since late 2015, and the Fed indicated that it expects to continue gradual increases.
Fed poised to raise rates for a third time this year
The modest rate increase that's widely expected reflects the continued resilience of the U.S. economy, now in its 10th year of expansion, the second-longest such stretch on record.
U.S. credit scores hit new high while household debt skyrockets
The new record comes on the heels of other signs that consumers are finally shrugging off a recession hangover, despite stubbornly stagnant wages that haven’t matched mushrooming corporate revenue.
Colleges ask for share of future salary in lieu of loans
In contrast with traditional loans, students with income share agreements pay back a percentage of their salary for a set period of time after graduation.
Healthy cash flow curbs businesses’ appetite for financing
A survey released Monday shows that only 30 percent of companies tried to raise outside financing during the previous three months.
Fishers-based Strada Education to sell Student Connections
Of Student Connections’ 58 employees in Indianapolis, 42 are expected to keep their jobs after the acquisition.
Wells Fargo expected to be fined $1B for lending abuses
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.