Indiana bankruptcy filings take downward turn
Bankruptcy filings in Indiana slipped slightly in 2016 while average monthly income inched higher, mirroring a national trend highlighted in an annual report.
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Indiana’s neighbor facing $14.7 billion in overdue bills
Illinois finally has a budget plan after two years. But it is facing $14.7 billion in overdue bills, a $130 billion shortfall in pension obligations and the possibility of its bond rating being downgraded to junk status.
Fast-growing local software firm bought for $80M by public company
Indianapolis-based Archway Technology Partners, which specializes in wealth management, reported revenue growth of 104 percent from 2013 to 2015.
Debt-collection exec sentenced to more than 4 years in prison
Todd Wolfe, who was indicted on federal fraud charges in 2015 following the collapse of Fishers collection agency Deca Financial Services LLC, must make restitution of more than $5 million to his victims.
Mansion formerly owned by fraudster Durham on market for $3.5M
The 14,480-square-foot home was once a party pad for the infamous financier. The Fishers couple who bought it in 2015 is now selling after making several improvements.
Fishers tax business owner sentenced to four years in prison
A Fishers business owner who pleaded guilty to instructing his employees to prepare more than 2,300 false tax returns must make $1.5 million in restitution.
Suspended lawyer in estate misappropriation case receives 8-year sentence
Stephen Schuyler pleaded guilty earlier this month to 15 felony counts, including theft.
2017 Indiana 100: After pulling CNO back, Bonach stepping aside
Q&A with Edward Bonach, CEO of CNO Financial Group: “Thankfully, I don’t know if it’s genes or what, but I can usually get by on less sleep than most. Starting early is good for me.”
Scrappy insurer continues pursuit of $25M judgment from Symons family
Continental Casualty Co., which has been tangling in court with the family for more than 15 years, recently initiated garnishment proceedings in a quest to collect as much as possible of a 2009 judgment.
Torchlite closes $2M fundraising round, bolsters board
Former Salesforce executive Scott McCorkle has been named Torchlite’s executive chairman. The $2 million round brings the marketing firm’s total financing take to $4 million since its launch in 2015.
Fed raises key rate, unveils plan to reduce bond holdings
The Federal Reserve has raised its key interest rate for the third time in six months, providing its latest vote of confidence in a slow-growing but durable economy.
Investors watching more than rate hikes from Federal Reserve
There isn’t much suspense about what the Fed will announce regarding a rate hike when its latest policy meeting ends Wednesday. But economic observers are watching for additional reasons.
Trump administration calls for overhaul of Wall Street rules
The changes, outlined in a report released by the Treasury Department, urge federal agencies to re-write scores of regulations that bankers have frequently complained about in the seven years since the passage of the Dodd-Frank Act.
Expect two more Federal Reserve rate hikes in 2017, economists say
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
Brokerage resolves complaint with Skinner family for $3.5M
A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.
U.S. House poised to roll back post-2008 financial rules
Republicans say many requirements imposed under what is known as the Dodd-Frank Act, named after its Democratic sponsors, have harmed economic growth by making it harder for consumers and businesses to get loans.
Lumina kicks venture capital arm into high gear
Over the past year, Indianapolis-based Lumina Foundation has aggressively moved in a novel direction for a grant-making not-for-profit, funneling more of its $1.2 billion endowment into venture capital.
Landlord’s Marsh bet leaves trail of foreclosures
Landlords across Indiana are feeling the pain from the collapse of Marsh Supermarkets, but none more so than a Canadian firm that had as many as 12 of the grocer’s stores in its portfolio.
Michigan company wraps up $211M Stonegate Mortgage acquisition
The sale marks the end of Stonegate’s stint as an Indianapolis-based public company. A number of Stonegate executives resigned from their positions just prior to the completion of the merger.
U.S. consumer spending, incomes show another monthly increase
Americans increased their spending in April at the fastest pace in four months, bolstered by a solid gain in incomes.