PayPal’s online checkout empire under siege as rivals squeeze its core business
PayPal helped invent online checkout. Nearly three decades later, it’s struggling to defend its turf.
Banking & Finance
Trump Accounts to offer new investment option for parents
Local financial professionals say the individual retirement account for children probably makes sense for some families more than others.
Brownsburg-based State Bank to open first Marion County branch
State Bank plans to open its first Marion County location, a branch in Speedway, later this year.
Regions Bank names new Indianapolis market executive
The new hire succeeds Erik Miner, who retired from Regions on April 3.
INvestEd, Indiana’s student loan provider, could see surge in demand
A little-known nonprofit created by Indiana lawmakers more than four decades ago could become a major lender for student loan borrowers due to tighter federal student loan restrictions.
Indy-based accounting tech firm Decimal switches business model, signs first franchisees
Decimal has sold off the direct services part of its business and is now focused on a new source of revenue: franchising its platform to independent accounting firms.
Senate confirms Trump pick Warsh as chairman of the Federal Reserve
Kevin Warsh, 56, a former top Fed official, is becoming chair at an unusually difficult time for the independent agency.
Users say AI financial tools complement but don’t replace human advisers
Some people use artificial intelligence to help them manage their financial lives, including monitoring their existing investments, constructing a stock portfolio, helping craft budgets and analyzing monthly spending habits.
IRS might owe you a refund for coronavirus-era fines. Here’s how to apply.
The IRS had assessed more than 120 million penalties against tens of millions of taxpayers for filing late returns, failing to pay taxes or failing to make required estimated tax payments between January 2020 and July 11, 2023.
Goelzer files lawsuit against former executive who joined rival investment firm
Carmel-based Goelzer Investment Management is suing one of the three financial advisers who left the firm earlier this month to join a rival firm, Robert W. Baird & Co. Inc.
UPDATE: Powell plans to stay on at Fed after his term as chair ends, citing legal actions by administration
The Federal Reserve left its benchmark interest rate unchanged for the third straight meeting but signaled it could still cut rates in the coming months, moves that attracted the most dissents since October 1992.
Fed likely to leave rates unchanged at what might be Powell’s last meeting
Federal Reserve Chair Jerome Powell could signal he will stay with the Fed even as a Senate panel is expected to confirm his replacement.
Key senator says he’s ready to confirm Warsh as Trump’s pick as Fed chair
The announcement by Sen. Thom Tillis removes a big hurdle to President Trump’s effort to install Kevin Warsh, a former high-ranking Federal Reserve official, in the job in place of Jerome Powell.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The judge, James Boasberg, said prosecutors had produced “essentially zero evidence” to suspect Jerome Powell of a crime.
Generations Community Bank launches as state’s first startup bank since 2008
Generations is also the state’s first-ever minority depository institution, a designation for banks with at least 51% minority ownership or that serve a primarily minority community and have at least 51% of board seats held by minorities.
Average US long-term mortgage rate slips to 6.23%, its third weekly drop
As recently as late February, the average 30-year mortgage slipped under 6% for the first time since 2022. It started climbing last month as the war with Iran sent energy prices soaring.
Trump’s Federal Reserve pick grilled by Senate panel, with confirmation still in limbo
Kevin Warsh, President Donald Trump’s pick to lead the Fed, pledged independence from the White House, even as Trump said he would be disappointed if his pick doesn’t immediately cut rates.
Team of investment advisers leaves Goelzer for rival firm
The three-man team, which managed a combined $1 billion in assets at Carmel-based Goelzer Investment Management, joined Robert W. Baird’s wealth management office in Indianapolis.
Banks rejected by Supreme Court in municipal bond price-fixing case
The U.S. Supreme Court refused to block a class action lawsuit that seeks billions of dollars from Bank of America Corp., JPMorgan Chase & Co. and other financial institutions.
Tax refunds shoot up as Americans take advantage of new deductions
The bigger refund checks reflect the major tax cut passed by Congress in July, which reduced many households’ tax bills.