By picking Jerome Powell to stay on as chair of the powerful Federal Reserve, President Joe Biden is trying to navigate hazardous crosscurrents between economic and political forces.
Black-led financial institution looks to create access to capital
Work is underway to determine what kind of support services Black-owned businesses will need to complement the loan fund.Read More
Emmis makes stock buyback offer, seeking up to 2 million shares
The stock buyback offer, announced Thursday, applies to up to 2 million shares of Class A common stock at $2.60 per share, or more than $1 per share above the closing price of Emmis shares on Thursday.Read More
Lawsuit alleges Old National Bank redlined against Black Indy residents
The Fair Housing Center of Central Indiana, or FHCCI, brought the legal action Thursday after a multiyear investigation of the Indiana-based financial institution and meeting with bank officials.Read More
Fieldhouse deal should boost Indy-based Gainbridge’s profile
Experts say the deal could be a boon if the annuity and life insurance firm manages to leverage the exposure in a manner that pushes the bounds of a traditional naming-rights deal.Read More
Their opposition comes as President Joe Biden is expected to announce within days whom he will choose for the nation’s most powerful economic position.
The equity investment is by far the largest single capital raise by an Indiana-based technology company in the state’s history, according to Indianapolis-based TechPoint, a not-for-profit that supports the state’s tech industry.
Saule Omarovaa’s previous criticism of the banking industry makes the banks fearful she will be a tough regulator for Wall Street. They also are wary because of academic writings in which she has proposed substantial overhauls to how banks operate in the U.S.
Fort Wayne-based STAR, which has 13 banking offices in the Indianapolis market, said it sees a business opportunity in Bitcoin and plans to add additional cryptocurrency services as demand warrants.
A blank-check company, or SPAC, plans to close early next year on a merger with California-based Energy Vault that will take the company public and give it a cash infusion of $388 million.
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
Fishers-based First Internet says it expects that its $80 million acquisition of Georgia-based First Century Bank will be complete early next year. The deal brings several new product lines to First Internet’s existing offerings.
The Justice Department announced Friday a cross-government effort to investigate and prosecute redlining, the practice of banks discriminating against racial minorities or certain neighborhoods.
In its first significant action under a new director, the Consumer Financial Protection Bureau is ordering Apple, Amazon, PayPal and other tech giants to reveal how their proprietary payment networks function.
The Federal Reserve announced Thursday that its policymakers and senior staff would be barred from investing in individual stocks and bonds.
Indianapolis is making preparations for its first Black-led Community Development Financial Institution, which will aim to offer businesses in economically disadvantaged communities access to capital and other help.
Most of of the funding will will go to improve mortgage access, capital access for small businesses and other education resources in the northeast-side neighborhood.
Cryptocurrencies have surged so much that their total value has reached nearly $2.5 trillion, rivaling the world’s most valuable company, Apple, and have amassed more than 200 million users. At that size, it’s simply too big for the financial establishment to ignore.
Such a move would mark the Fed’s first step back from the extraordinary efforts it has made to stimulate the economy in the wake of the pandemic.
High Alpha Studio III will concentrate on funding, launching and growing enterprise cloud companies.
The Federal Reserve’s Office of the Inspector General will investigate “whether trading activity by certain senior officials was in compliance with both the relevant ethics rules and the law,” the Fed said Monday.
Investors are increasingly worried about inflation as oil prices rise and companies continue facing supply problems that increase their costs and force them to raise prices.
After climbing steadily for much of the year, the stock market has become unsettled in recent weeks with the spread of the delta variant, surging long-term bond yields and word that the Federal Reserve may start to unwind its support for the economy.