Indianapolis-based SBC Wealth Management merged into NYC firm
SBC, founded in 1983, is now part of New York City-based Cerity Partners, which has dozens of offices around the U.S. and about $104 billion in assets under management.
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Carmel-based investment firm closes on $250M fund
CID Capital recently closed on its fourth investment fund, which brought in $250 million—significantly more than the $200 million the firm had been targeting.
TD Bank to pay $3B in historic money-laundering settlement with Justice Department
The Justice Department said the bank allowed at least three different money laundering networks to move a total of $670 million through TD Bank accounts over a period of several years.
Retirees to get 2.5% boost to Social Security checks in 2025
Monthly checks for some 72.5 million Americans receiving retirement or disability benefits will see a smaller adjustment than what they received this year after a further slowdown in inflation.
Social Security’s scheduled cost of living increase ‘won’t make a dent’ for some retirees
About 70.6 million Social Security recipients are expected to receive a smaller cost of living increase for 2025 than in recent years, as inflation has moderated.
Cincinnati-based investment bank opens Indianapolis office
Cincinnati-based ArkMalibu, which represents business owners who are looking to sell their companies, has opened an Indianapolis office that will be led by local entrepreneur Phil Daniels.
Indianapolis-based ag company sues JPMorgan Chase over freeze of $3M
Agricultural Chemical Solutions Inc. and the wife of the company’s president are suing the bank for more than $40,000 in fees incurred after they were allegedly denied access to their accounts.
Civic leader, prominent attorney Robert H. McKinney dies at 98
McKinney’s name adorns the Indianapolis law school where he enrolled after World War II, and his presence has been felt throughout Indiana for more than 75 years, whether as an attorney, entrepreneur, banker, public servant, or civic leader.
Fed’s favored inflation gauge shows cooling price pressures
The ongoing decline in inflation makes it even more likely that the Federal Reserve will cut its key benchmark rate further in the coming months.
Indianapolis-based Greenwalt CPAs to merge with Cincinnati firm
Following the merger, which takes effect Jan. 1, Greenwalt will operate under the Barnes Dennig & Co. name.
Price of gold keeps climbing to unprecedented heights. Here’s why.
Gold hit another all time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world.
Department of Justice sues Visa, alleges card issuer monopolizes debit card markets
According to the DOJ’s complaint, 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions.
For home shoppers, Fed’s big rate cut is small step toward affording a home
While lower rates give home shoppers more purchasing power, a mortgage around 6% is still not low enough for many Americans struggling to afford a home.
Walmart plans instant bank payments, cutting out card networks
The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.
Federal Reserve cuts key interest rate by a sizable half-point, signaling end to its inflation fight
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Federal Reserve set to cut interest rates for first time in 4 years
At issue is how fast the Fed wants to lower interest rates to a point where they’re no longer acting as a brake on the economy—nor as an accelerant. Where that so-called “neutral” level falls isn’t clear.
Carmel-based Merchants Bank hires new CFO
Merchants Bank’s new chief financial officer, Sean Sievers, comes to the Carmel-based bank after holding similar positions at some of the nation’s largest banks and mortgage lenders.
Carmel City Council OKs $19M TIF bond for Proscenium III project
Plans for the project call for 120 apartments, a 125-room high-end hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
Auto insurance rates keep rising
For a variety of reasons, some related to the pandemic, auto insurance premiums have risen dramatically over the past few years.
Student loan servicer Navient reaches $120 million settlement
The settlement stems from a 2017 lawsuit brought by the bureau that casts Navient as a company that was far more concerned with its financial interests than the needs of vulnerable student loan borrowers.