Fed raises rates for third time this year with one more hike expected
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.
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Fed poised to raise rates for a third time this year
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.
U.S. credit scores hit new high while household debt skyrockets
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.
Colleges ask for share of future salary in lieu of loans
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.
Healthy cash flow curbs businesses’ appetite for financing
A survey released Monday shows that only 30 percent of companies tried to raise outside financing during the previous three months.
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.
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.
Zero-percent auto loan era fading into America’s rearview mirror
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.
Carmel-based Baker Hill accelerating growth with product launch, partnerships
The financial software firm this week announced a strategic partnership it said should accelerate the company’s growth and local employee base.
Committee chairman kills divisive payday lending bill
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-debt firms shielded from state probes in new federal plan
Student-loan debt collectors accused of misleading borrowers would get more protection under a proposal from the Trump Administration.
Payday lending bill faces uncertain fate in Indiana Senate
The Republican leader of the Indiana Senate says he is opposed to legislation to expand payday lending and allow for rates more than triple what is currently permitted under the state's criminal loansharking law.
Fed rate hikes squeezing even the nation’s hottest automaker
Subaru Corp., the only car manufacturer to boost U.S. sales every year in the last decade, is continuing to offer cheap financing on models even as rates rise, pinching margins in a plateauing market.
House advances ‘hillbilly venture capital’ bill pushed by payday loan industry
House Bill 1319, which would allow the short-term loan industry to offer high-interest consumer loans, is opposed by veteran groups, religious institutions and consumer advocates.
House panel advances ‘hillbilly venture capital’ legislation
An Indiana House committee on Wednesday advanced a bill that the payday loan industry says would create a longer-term, higher-value loan for people who have such bad credit scores that they can’t be helped by regular banks.
Stake in Indiana-based OneMain Holdings sells for $1.4B
Apollo Global Management LLC and Varde Partners have agreed to buy Fortress Investment Group’s stake in Indiana-based consumer lender OneMain Holdings Inc.
Survey: Small businesses more interested in loans
Small companies are getting more interested in borrowing, but many are still finding it hard to get loans from banks, a quarterly survey shows.
Education agency blasted amid student loan scam crackdown
Federal and state agencies are cracking down nationally for the first time on scams that gouge student loan borrowers, but critics say the U.S. Department of Education isn't helping.
FBI raids financial services firm in Westfield
The bureau so far isn’t sharing details on its interest in Banc-serv, which provides services for small business lenders.
SEC asked to probe trades of student loan giant Navient
The AFL-CIO is asking regulators for a review of possible insider trading involving shares in Navient Corp., which has major operations in Fishers.