2018 Innovation Issue graphic: How a bitcoin is mined
New bitcoins are created during the digital process of verifying transactions. Here’s how it works.
Banking & Finance
Articles
2018 Innovation Issue: There’s promise in cryptocurrencies but plenty of skepticism, too
Cryptocurrency might not be coming to a bank near you—yet. But bitcoin ATMs are springing up across central Indiana and the nation, and some tech leaders say that, within a decade, cryptocurrency could be more life-altering than the internet.
Investigators say volunteer fire department treasurer stole $238K
A review by the Indiana State Board of Accounts released Friday morning found that a former township fire department treasurer used the department’s money to pay for personal expenses related to youth hockey, phone and satellite TV services, and funeral expenses.
Indiana joins nationwide effort to crack down on cryptocurrency fraud
The effort, dubbed “Operation Cryptosweep,” is being coordinated by the North American Securities Administrators Association.
Lawmakers move to dismantle key post-crisis bank rules
The House voted 258-159 to approve legislation rolling back the Dodd-Frank law, notching a legislative win for President Donald Trump, who made gutting the landmark law a campaign promise.
Three area business owners, former bank employee charged in $8M fraud schemes
The U.S. attorney’s office says five central Indiana residents and one man from Detroit took more than $8 million from a bank and an insurance company, in part to pay for a home, a wedding, cars and more.
Fifth Third to acquire Chicago’s MB Financial for $4.7 billion
Fifth Third is paying a premium to gain a bigger foothold in the Chicago market, where MB Financial is among the middle-market banking leaders with 86 retail bank branches.
Sells Group expands into cryptocurrency and blockchain, opens offices in Montreal, Dallas
Sells Group is finding unique ways to combine cryptocurrency and blockchain technology with some of its more traditional digital marketing offerings.
New studies show women less confident, less knowledgeable about money matters
Just more than half of married women leave long-term financial decisions, including those about investing, to their spouses, even though the wives often are handling the daily household budget.
Wind-energy developer dismisses auditor after being informed of accounting weaknesses
Infrastructure & Energy Alternatives Inc. dismissed auditor Crowe Horwath and said it is taking steps to address the financial issues raised.
KeyBank announces new central Indiana market president
Juan Gonzalez, who was promoted from within, stepped into his new role at the bank Monday.
Negotiations leading to $558M Finish Line sale full of surprises
A new regulatory said Sports Direct International Inc., the United Kingdom-based sports-apparel retailer that was rumored for months to be on the verge of buying Indianapolis-based Finish Line, never actually wanted to buy the company.
Local care-management software firm lands $1M in seed funding
Carmel-based Tendly LLC, a software platform for senior care and child care providers, has raised $1 million in seed funding from a bevy of local entrepreneurs and tech investors, the firm announced Tuesday.
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.
Market has rough day as big tech, industrial stocks tumble
Stocks closed sharply lower on Wall Street on Tuesday as Google parent Alphabet Inc., Amazon and Caterpillar took heavy losses.
Trucking firm Celadon offered $200M loan in exchange for fifth of company
The struggling Indianapolis-based company said it has arranged a much-needed loan but must give up a major ownership stake and board seats to receive it.
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.
Levementum beating growth projections, snags $4M in funding
Officials for digital consultancy Levementum said the capital recently secured from a group led by Chicago-based Inoca Capital Partners will be used in part to add about 40 employees at its Indianapolis office this year.
Fed discussed ‘slightly steeper’ future rate hikes in latest meeting
Federal Reserve officials signaled rising confidence last month that a strong economy will lift inflation closer to its 2 percent target and that they may accelerate the Fed's pace of interest rate hikes as a result.
Defense makes bold new claim before stockbroker Thomas Buck sentencing
The former star Merrill Lynch broker this month threw federal prosecutors for a loop, arguing days before his scheduled sentencing for securities fraud that his offense caused “zero financial loss.”