According to the complaint, First Merchants “engaged in unlawful redlining in Indianapolis by intentionally avoiding predominantly African-American neighborhoods because of the race of the people living in those neighborhoods.”
The Federal Reserve signaled that no rate hikes are likely in coming months amid signs of renewed economic health but unusually low inflation.
On the last day for bills to pass out of the Indiana House, the sponsor for Senate Bill 613—Rep. Matt Lehman, R-Berne—declined to call it for a vote.
Even after lawmakers worked hours overnight to craft an amendment to a controversial bill regulating payday and subprime loans, opponents remained frustrated.
A Senate bill addressing subprime lending, which had a 69-page strip-and-insert amendment released the night before passing out of committee, is headed to the House.
The goal is to preserve or spur development of 1,000 affordable housing units within close distance of an Indianapolis transit stop over the next five years.
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
The share of U.S. vehicle sales financed with zero-percent loans has been shrinking, but several automakers are rolling out no-interest loans for Black Friday.
The Fishers-based bank reported that the quality of its loans improved even as its loan portfolio grew larger. Much of the growth came from commercial loans.
The Federal Reserve on Wednesday lifted its short-term rate for the eighth time since late 2015, and the Fed indicated that it expects to continue gradual increases.
The modest rate increase that's widely expected reflects the continued resilience of the U.S. economy, now in its 10th year of expansion, the second-longest such stretch on record.
The new record comes on the heels of other signs that consumers are finally shrugging off a recession hangover, despite stubbornly stagnant wages that haven’t matched mushrooming corporate revenue.
In contrast with traditional loans, students with income share agreements pay back a percentage of their salary for a set period of time after graduation.
A survey released Monday shows that only 30 percent of companies tried to raise outside financing during the previous three months.
Of Student Connections’ 58 employees in Indianapolis, 42 are expected to keep their jobs after the acquisition.
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.
Carmakers that used zero-percent financing offers to juice sales at the height of the American auto boom are starting to abandon them as rising interest rates lift their own borrowing costs.
The financial software firm this week announced a strategic partnership it said should accelerate the company’s growth and local employee base.
The bill called for the creation of a new type of payday loan that would have allowed for annual percentage rates of up to 222 percent.
Student-loan debt collectors accused of misleading borrowers would get more protection under a proposal from the Trump Administration.