Overdraft fees could drop to as low as $3 under new White House proposal
The proposed change by the Consumer Financial Protection Bureau would potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
The proposed change by the Consumer Financial Protection Bureau would potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
The Consumer Financial Protection Bureau is expected to propose rules this week that would further rein in banks’ ability to charge customers a fee when they overdraw their bank account.
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Hunkering down with family offers breathing room to save for a home. The trade-off comes down to temporarily relinquishing a measure of independence to achieve a milestone increasingly out of reach for people their age.
No one did better in 2023 than Elon Musk, who recaptured the title of world’s richest person from French luxury tycoon Bernard Arnault.
The Biden administration plans to more aggressively pursue thousands of small businesses with past-due pandemic loans, reversing an earlier policy that saw the U.S. government stop short of trying to collect an estimated $30 billion in delinquent debt.
When its latest policy meeting ends Wednesday, the Federal Reserve is likely to provide some highly anticipated hints about the extent of rate cuts next year.
Indianapolis-based Windsor Wealth Management had 14 employees and $1.9 billion in assets under management when Corient acquired the firm.
The contest for diverse-led Indiana-based startups offers a total of $150,000 in cash prizes.
Most of Indiana’s 14 publicly traded banks have seen a significant drop in stock prices at some point this year, in some cases falling more than 50% from their Jan. 3 prices, the first trading day of the year.
The heads of the nation’s biggest banks told Congress there are reasons to be concerned about the health of U.S. consumers—particularly poor and low-income borrowers.
Home loan rates have started drifting lower amid growing hopes the Fed will start to expand the money supply again next year, but it could take years for the housing market to return to normality.
Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said in prepared remarks Friday.
After 60 years of operations in Madison County, Anderson-based Lampco Federal Credit Union is working to establish a foothold in Marion, Hamilton and Hancock counties.
Elise Nieshalla, a real estate investor and president of the Indiana County Councils Association, will replace Tera Klutz, who is stepping down Thursday despite having more than three years left in her term.
Among the many challenges small businesses face as they try to grow these days is getting a loan. Banks big and small have tightened lending standards along with rising interest rates the past two years.
“Using new technology to break the law does not make you a disruptor, it makes you a criminal,” said U.S. Attorney General Merrick Garland, who called the settlement one of the largest corporate penalties in the nation’s history.
Steve Pratt will lead an office of about 500 people. He will succeed Deloitte Tax LLP Partner Mary Boelke, who has led Deloitte’s Indianapolis office for more than 11 years.
The Tax Cuts and Jobs Act, which passed in 2017, temporarily doubled the estate-tax exemption starting in 2018. But the estate-tax provision of the TC&JA is scheduled to sunset at the end of 2025.
The city on Wednesday and Thursday sold $581 million in bonds for the development through the Indianapolis Local Public Improvement Bond Bank, consisting of $436.8 million in tax-exempt revenue bonds for the hotel portion of the project, and another $155 million for the convention center expansion.