Prominent jeweler retrenches after auction of inventory
Despite an auction of inventory to satisfy a debt, Aronstam Fine Jewelers is in no danger of closing, the store’s owner says, thanks to the help of outside investors.
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Small-business lender expands in central Indiana
Anderson-based Flagship Enterprise Center, which makes business loans at levels far below most banks, recently earned approval to operate in 24 counties, up from 10.
Indiana credit unions growing, albeit slowly
Federal data show Hoosier credit unions’ growth rates lagging most of their national peers, but it may not be such a bad thing.
Financing strategy for roads hits bump
A standard-bearer of public-private partnerships since former Gov. Mitch Daniels’ toll road lease, Indiana might be turning away from at least one form of the P3s.
Chamber steps up microloan ambitions
A division of the Indy Chamber is applying to become a U.S. Small Business Administration-affiliated microlender, a move aimed at boosting its available capital and expanding its territory in a wide-open frontier of finance.
Supreme Court takes up housing bias case
The justices agreed Thursday to take up a case that challenges the theory that certain housing or lending practices can illegally harm minority groups, even when there is no proof of intent to discriminate.
Fed signals plan to keep key rate at record low
The Fed said it planned to keep its benchmark rate near zero as long as inflation remains under control, until it sees consistent gains in wage growth, long-term unemployment and other gauges of the job market.
Lender files to foreclose on downtown’s Villagio condos
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
Finance company cutting 170 jobs in Evansville
Springleaf Finance, a division of Springleaf Holdings Inc., has told state officials that it will permanently close its 170-worker mortgage servicing center in Evansville.
IU students get more information, borrow less
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
Stock tied to IPO catapults pay for Springleaf execs
Two executives with the Evansville-based lender received big stock awards in connection with the company’s IPO. The awards put the pair No. 1 and No. 2 on IBJ’s list of highest-paid Hoosier executives.
BMO Harris shaking up rules of game for car loans
BMO Harris Bank’s dealer compensation change—to a flat-fee based on a vehicle’s purchase price—brings to light how consumers have for years unknowingly footed a payment to dealers through higher interest rates on their car loans.
Deca Financial to wind down after trustee opts for liquidation
The Fishers debt collection agency had been forced into bankruptcy by creditors. On Monday, a judge approved a request to terminate the once-promising firm.
Small biz lending starting to thaw
More small businesses in Indiana are securing loans as owners learn to present their companies better and banks warm to small-business lending after years of hesitation.
U.S. student-loan debt adds to growing wealth gap
Roughly 37 million people in the U.S. are saddled with $1 trillion in student debt, a factor contributing to the widening of the gap between rich and everyone else in the country.
Bank files to foreclose on Garcia Construction property
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction’s building at 6002 N. Michigan Road, and on personal property.
Lender with unique niche broadening its ambitions
Oak Street Funding, a Carmel firm that lends exclusively to insurance agencies/brokers, plans to diversify this summer, with its first loans to registered investment advisers.
Savings account rates in Indiana among lowest in nation
The study by GoBankingRates.com finds that the average return on savings at Indiana banks is 0.056 percent. However, the average for Indianapolis-area banks was considerably higher.
Indiana gets low-interest loans for tornado relief
Businesses, residents and some not-for-profits in 19 Indiana counties recovering from the November tornado outbreak can receive low-interest federal disaster loans.
Industry providing cash advances for lawsuit payoffs fights bill
The director of a group of financing companies warned Wednesday that lawmakers “would eliminate this industry from Indiana” should they approve a measure targeting companies that provide cash advances to people awaiting payoffs in personal injury lawsuits.