Cash-strapped Fair Finance CFO agrees to $50M settlement
An attorney for Rick Snow says the executive agreed to the deal because he lacked the money to fight the suit, not because he actually has the money.
Banking & Finance
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Corn pile biggest since 1994 as crop overwhelms use
Stockpiles of corn in the United States, the world’s top grower, are rising at the fastest pace in 19 years as a record crop overwhelms increased demand for the grain used to make livestock feed and ethanol.
Lawmakers consider state-assisted retirement plan
Senate Bill 66 creates a state-assisted savings plan for retirement. The bill is opposed by the Association of Indiana Life Insurance Companies.
Senate confirms Yellen to chair Federal Reserve
Janet Yellen, 67, will replace Ben Bernanke, who is stepping down after serving as chairman for eight years dominated by the Great Recession and the Fed's efforts to combat it.
After year of stock records, a weak start to 2014
The Standard & Poor's 500 index began the New Year with its worst performance in three weeks as energy and technology companies pulled down the stock market.
2013 was the year of unstoppable stocks
Instead of worrying about the wider world in 2013, investors focused on the Federal Reserve and the outlook for its stimulus program.
Investment manager sees good growth prospects for 2014
Tom Pence predicts change for U.S. manufacturing.
Indianapolis-based hedge funds subject to market forces, too
Five years after the crash, the luster of hedge funds isn’t what it used to be.
Old National to pay $500,000 civil penalty
The Office of the Comptroller of the Currency in June 2012 said it had identified "deficiencies in the Bank's overall program" for complying with the Bank Secrecy Act.
Target says customers’ encrypted PINs were stolen
The retailer claims the PIN numbers of some 40 million customers are safe and secure, but a security consultant counsels changing the access codes.
Average 30-year mortgage rate climbs to 4.48 percent
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.
Young CEO has big plans for employee-training software firm
Upstart Lesson.ly, an Indy-based developer of training software, is run by a 25-year-old and is trying to cut into a $42 billion market dominated by titans such as IBM and Oracle.
U.S. credit card info is easy pickings for hackers
Incidences like the recent data theft affecting 40 million Target customers could become more common as retailers, banks and credit card companies argue over who should pay for security upgrades.
Fury and frustration over Target data breach
Potential victims of credit card fraud tied to Target's security breach said they had trouble contacting the discounter through its website and call centers.
How Fed’s pullback of stimulus could affect you
The Federal Reserve's move Wednesday to slow its stimulus will ripple through the global economy. But exactly how it will affect people and businesses depends on who you are.
Fifth Third helping to educate fifth-graders
Fifth Third’s local president, Nancy Huber, said the bank is awarding $60,000 to Junior Achievement to create a student bank.
Markets close at record highs after Fed’s tapering decision
U.S. stocks rose, sending benchmark indexes to all-time highs Wednesday, after the Federal Reserve said it will reduce the pace of its monthly bond purchases and expressed confidence in the labor market recovery.
Fed to reduce bond purchases by $10B in January
The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The Fed will trim its $85 billion a month in bond purchases by $10 billion starting in January.
Bill to target abandoned-home epidemic in Indiana
Sen. Jim Merritt, R-Indianapolis, wants to shorten the amount of time vacant homes sit idle.
Investors await Fed’s decision on bond purchases
But most economists think that when the Fed's latest policy meeting ends Wednesday, it will announce that it's maintaining its pace of $85 billion a month in bond purchases.