Banking & Finance

Smarter Remarketer gets $7M in fundingRestricted Content

August 30, 2014
Smarter Remarketer, an Indianapolis-based retail technology firm, said Aug. 27 that it has lined up $7 million in venture debt financing from Los Angeles-based City National Bank.
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Mourdock stepping down as Indiana treasurer

August 29, 2014
Associated Press
Mourdock, who defeated longtime Sen. Richard Lugar in the 2012 U.S. Senate primary only to lose the general election after a comment about rape, resigned Friday, four months before the end of his term.
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Nation's banks continue robust recovery as lending picks up

August 28, 2014
Associated Press
The FDIC says 57.5 percent of banks reported an increase in profit in the second quarter from a year earlier. They reduced their expenses, and lending marked its fastest pace since 2007.
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S&P 500 sets all-time high in intraday trading

August 25, 2014
 Associated Press and IBJ Staff
The index breached the 2,000-point barrier soon after markets opened on Monday, nearly hitting 2002 points around noon. The Dow also was near its high watermark.
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A love story with Christ Church takes contentious turn

August 23, 2014
Greg Andrews
This is far from the first time that heirs and beneficiaries of the Lilly family fortune have tangled over how it was managed.
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Lawmakers move to monitor State Board of Accounts

August 22, 2014
Jacob Rund, The Statehouse File
A subcommittee of the Indiana Legislative Council met this week to determine the goals and best practices of a new Audit Committee, which is meant to operate as a type of peer-review system for the State Board of Accounts.
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Yellen to give her outlook as Fed honeymoon fades

August 20, 2014
Associated Press
The perilous question that now awaits Janet Yellen's Federal Reserve has put investors on nervous alert: Can it manage to raise rates from record lows without weakening the U.S. economy or spooking markets?
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Inventor to try crowdfunding to launch cycling product

August 20, 2014
 Associated Press and IBJ Staff
An Indiana inventor plans to use the power of the people—and the World Wide Web—to secure funds to produce prototypes for the Land Zeppelin, an apparatus that allows bicyclists to ride in the rain without getting wet.
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Lender files to foreclose on downtown's Villagio condos

August 15, 2014
Scott Olson
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it's sold.
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Local man faces 20 investment-related felony counts

August 13, 2014
Jeff Newman
Robert E. Wilson, 54, who operated locally based Wellington Institutional Management LCC, was charged in Marion County Court with 10 counts of securities fraud and 10 counts of being an unregistered broker-dealer.
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Church accuses JPMorgan of mismanagement, self-dealing

August 13, 2014
Cory Schouten
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.
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Lender forecloses on two downtown office buildings

August 13, 2014
Scott Olson
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.
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$500M Indy justice center relies on novel funding

August 9, 2014
Kathleen McLaughlin
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.
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New Simon VC arm making bets on retail technology

August 9, 2014
Greg Andrews
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
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Finance company cutting 170 jobs in Evansville

August 7, 2014
 Associated Press and IBJ Staff
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.
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Bank of America close to record settlement with U.S.

August 6, 2014
Associated Press
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.
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Walgreen turns down inversion, to keep HQ in U.S.

August 6, 2014
Associated Press
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.
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Plea deal rejected for ex-Indiana county auditor

August 5, 2014
Associated Press
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.
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Not so golden: Wealth gap lasting into retirement

August 4, 2014
Associated Press
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.
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Banks beckon wary millennials

August 2, 2014
Chris O'Malley
Institutions have uphill climb to build trust with generation scarred by financial crisis.
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Investor reimbursement fund off to slow start

August 2, 2014
Chris O'Malley
Time required for investigations, prosecutions caused delays.
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Stock market plunges as multiple worries vex investors

July 31, 2014
Associated Press
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.
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Fed offers no clearer hint on first rate increase

July 30, 2014
Associated Press
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.
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Soldiers get $92M in debt relief under settlement

July 29, 2014
Associated Press
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.
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Study: 35 percent in U.S. facing debt collectors

July 29, 2014
Associated Press
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.
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  4. Elected officials, like Mourdock, get vested in 8 years. It takes 10 years for all other public employees, most of whom make a lot less money. So much for the promise to finish out his term.

  5. Great state treasurer and a good man!! Just curious if the folks who didn't quite understand his quote would like to tell my daughter-in-law that God didn't intend her! Mourdock's comment was correct but twisted and the article didn't mention that his opponent and the press let the impression stand that Mourdock meant that the rape was intended. Stupid people!!

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