Anderson-based credit union expanding outside Madison County
After 60 years of operations in Madison County, Anderson-based Lampco Federal Credit Union is working to establish a foothold in Marion, Hamilton and Hancock counties.
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Holcomb taps Boone County Council president Nieshalla as state comptroller
Elise Nieshalla, a real estate investor and president of the Indiana County Councils Association, will replace Tera Klutz, who is stepping down Thursday despite having more than three years left in her term.
Turned down for loans, business owners seek growth capital elsewhere
Among the many challenges small businesses face as they try to grow these days is getting a loan. Banks big and small have tightened lending standards along with rising interest rates the past two years.
Largest crypto exchange Binance fined $4B, CEO pleads guilty to not stopping money laundering
“Using new technology to break the law does not make you a disruptor, it makes you a criminal,” said U.S. Attorney General Merrick Garland, who called the settlement one of the largest corporate penalties in the nation’s history.
Deloitte names new leader for Indianapolis office
Steve Pratt will lead an office of about 500 people. He will succeed Deloitte Tax LLP Partner Mary Boelke, who has led Deloitte’s Indianapolis office for more than 11 years.
Deadline looms on estate-tax option
The Tax Cuts and Jobs Act, which passed in 2017, temporarily doubled the estate-tax exemption starting in 2018. But the estate-tax provision of the TC&JA is scheduled to sunset at the end of 2025.
All-in cost of Pan Am Plaza hotel, convention center expansion might surpass $1.6B
The city on Wednesday and Thursday sold $581 million in bonds for the development through the Indianapolis Local Public Improvement Bond Bank, consisting of $436.8 million in tax-exempt revenue bonds for the hotel portion of the project, and another $155 million for the convention center expansion.
Indiana awards $557M for low-income housing in ‘historic’ investment
Together, the projects are expected to result in nearly 2,500 new housing units in the state.
Wall Street tapping women, minority-owned banks for billion-dollar bond deals
After being relegated to bit parts for decades, women- and minority-owned investment banks are slowly stepping into larger roles as corporations push their go-to banking partners to team up with diverse firms.
Five concepts selected for Melon Kitchen accelerator at 16 Tech
The entrepreneurs will receive $5,000 grants and training in business plans, menu preparation, pitching to investors and other subjects.
Share of U.S. homes bought with cash hits highest level in nearly a decade
Homebuyers who can afford to bypass the highest mortgage rates in two decades are increasingly forgoing financing and paying all cash.
FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers
Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry hit rock bottom Thursday when a jury convicted him of fraud for stealing at least $10 billion from customers and investors.
Indianapolis wealth management firm acquired by North Carolina business
Column Capital Advisors, an 18-year-old Indianapolis firm, is the second Hoosier firm to be acquired by Captrust Financial Advisors.
Old National to expand southward with $344M acquisition of Nashville-based bank
The acquisition includes 22 CapStar banking centers in 13 Tennessee counties, including seven branches in the Nashville area, and one banking center in Asheville, North Carolina.
Visa profit surges as consumers turn up reliance on digital payments
Payments processing giant Visa has benefitted from a fundamental change in consumer behavior that has led to the broad acceptance of digital payments, as well as from the growth in online shopping.
State wins restraining order against Fishers attorney for alleged Ponzi scheme
According to a complaint, Darrin Blaine presented himself to investors as a seller of securities, despite not being registered with the state’s Securities Division. He allegedly obtained $680,000 from investors and used the funds for his personal lifestyle expenses.
Yield on a 10-year Treasury reaches 5% for first time since 2007
Besides making it more expensive for U.S. homebuyers to buy a house with a mortgage, higher yields also put downward pressure on prices for everything from stocks to cryptocurrencies. Eventually, they could help cause companies to lay off more workers.
Loan delinquency rates on the rise
Increasing numbers of borrowers are falling behind on their credit-card and auto-loan payments, but banking and economic experts say this is not necessarily a sign of economic troubles ahead.
Carmel financial firm’s CEO jailed on alcohol-related charges
ReJoyce Financial CEO Alexander Joyce, who is known locally for his financial planning infomercials, is serving time in Hamilton County Jail for a probation violation related to charges of driving while intoxicated. His firm is operating as usual in his absence, according to his attorney and and business associates.
Social Security benefits to increase by 3.2% in 2024
Next year’s hike follows this year’s 8.7% benefit increase, which was brought on by record 40-year-high inflation.