Stock Yards Bank continues central Indiana growth with sixth branch
Louisville-based Stock Yards Bank & Trust is moving forward with plans for additional branches in the Indianapolis-area market over the next several years.
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House votes to overturn rule limiting bank overdraft fees to $5, sends to Trump to sign
The nation’s biggest banks take in roughly $8 billion in the overdraft charges every year, according to data from the Consumer Financial Protection Bureau and bank public records.
Trade war escalations spark bond sell-off as companies worry about economy
U.S. Treasury bonds sold off Wednesday as a global trade war escalated, with the Trump administration’s harshest tariffs yet drawing swift retaliation from China and the European Union.
Latest IRS chief to quit over deal to share data with immigration authorities
Acting IRS commissioner Melanie Krause—the tax agency’s third leader since President Donald Trump’s inauguration—will participate in the deferred resignation program the Trump administration offered to agency employees in recent days, sources said.
New lender’s approach will be a first for state
Evansville-based Old National Bank is working on a first-of-its-kind effort: the launch of an Indiana-based bank whose target customers are minorities and those underserved by traditional banks.
Federal Reserve chief says tariffs likely to raise inflation, slow economic growth
Federal Reserve Chair Jerome Powell’s focus on inflation suggests that the Fed will likely keep its benchmark interest rate unchanged at about 4.3% in the coming months.
Mortgage company Rocket continues acquisition spree with $9.4B deal
Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business representing one in every six mortgages in the United States and give it almost 7 million additional clients.
Business leaders see Israeli venture fund as a way to attract startups to Indiana
Representatives of Israel-based Iron Nation, established to support Israeli startups during the country’s ongoing war with Palestinian militant group Hamas, came to Indianapolis as part of a U.S. visit to meet with potential investors.
Regulatory panel denies Stifel’s claim against competitor
A financial industry arbitration panel has ordered Stifel, Nicolaus & Co. Inc. to pay $7 million in attorney’s fees to a group of former Stifel advisers.
Economists expect Fed to cut rates twice this year
Fed officials have signaled interest rates may be on hold for some time amid uncertainty about President Donald Trump’s economic policies, particularly on trade.
A 10% drop for stocks is scary, but isn’t that rare
The U.S. stock market has just dropped 10% from its high set last month. Wall Street has a name for such a decline: a “correction.”
Westfield seeks audit to determine scope of city employee payroll problem
Westfield plans to conduct a payroll audit going back 17 years after officials recently discovered a firefighter had experienced incorrect payroll deductions since 2009.
Automakers want to start banks, hoping to benefit from lighter-touch rules
In addition to the three U.S. carmakers, several other nonfinancial businesses are interested in seeking regulatory permission to launch their own banks.
Trump signs executive order to establish government bitcoin reserve
Establishing a bitcoin reserve was one of several crypto-related promises President Donald Trump made on the campaign trail last year.
Mortgage rates have declined but could stay at level that makes it tough to afford home
The average rate on a 30-year mortgage in the U.S. has declined six weeks in a row, according to mortgage buyer Freddie Mac.
IRS drafting plan to cut up to half of its 90,000-person workforce, sources say
The layoffs are part of the Trump administration’s efforts to shrink the size of the federal workforce through billionaire Elon Musk’s Department of Government Efficiency.
Medical debt collection agency closes in Fishers
The collection agency, which had more than 90 employees, was ordered in 2023 to pay a $1.68M penalty for violations of federal debt-collection and credit-reporting laws.
Judge orders ban on DOGE from accessing sensitive Treasury data
U.S. District Judge Jeannette A. Vargas said there’s a public interest in protecting the security of personal information and banking information for Americans.
Mitch Daniels joins Indianapolis-based LDI Ltd. as executive partner
LDI, a family-owned holding company, said it plans to expand its operating portfolio in coming years and brought Mitch Daniels on board as an executive partner to help with this goal.
Partisan school boards, payday lending bills move forward
With the committee deadline over, lawmakers are now working with fewer bills in the 2025 session.