White House to extend student loan pause through August
The action applies to more than 43 million Americans who owe a combined $1.6 trillion in student debt held by the federal government, according to the latest data from the Education Department.
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Elon Musk to join Twitter’s board after becoming largest shareholder
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
Suddenly, Twitter’s biggest stakeholder is Tesla’s Elon Musk
Twitter co-founder Jack Dorsey stepped down as CEO in November. Musk’s stake in Twitter is now more than four times the size of Dorsey’s, who had been the largest individual shareholder.
Small businesses in need of loans find stingier lending landscape
Only about 30% of businesses that applied for financing last year got the full amount that they asked for, down from about half in 2019.
Fed’s Powell: Digital currencies will require new regulations
Federal Reserve Chair Jerome Powell said new forms of digital money such as cryptocurrencies and stablecoins present risks to the U.S. financial system and will need new rules to protect consumers.
Powell says Federal Reserve will hike further, faster if necessary
Federal Reserve Chairman Jerome Powell said that if necessary, the central bank would be open to raising rates by a comparatively aggressive half-point at multiple Fed meetings. The Fed hasn’t raised its benchmark rate by a half-point since May 2000.
Q&A: Financial adviser John Sarson on why he’s bullish on cryptocurrency
He’s the CEO of Indianapolis-based Sarson Funds, which offers cryptocurrency-focused investments to financial advisers and accredited investors. He spoke to IBJ recently—not from his office, but from what he calls the firm’s “secret location,” a house in Carmel where staffers build computers and do crypto mining.
PNC’s Connie Bond Stuart to retire after 41-year career
Stuart has served as PNC’s top Indianapolis-area executive since 2011, and she’s spent her entire career working for the bank in various markets.
Powell, three other nominees to Federal Reserve clear Senate panel
The Senate Banking Committee approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve Wednesday, just hours after the central bank began what will be a difficult effort to combat inflation.
Fed seen being cautious in rate path amid Ukraine uncertainty
Investors have ramped up expectations for an aggressive Fed posture in the face of the highest inflation in four decades. But the economists say the outlook has become muted by uncertainty over Ukraine, sanctions and surging commodities prices.
Biden signs order on cryptocurrency as its use explodes
Biden’s top economic and national security adviser said the order establishes the first comprehensive federal digital assets strategy for the United States.
Biden executive order on cryptocurrency expected this week
President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.
Visa lowers merchant credit fees for small businesses
Visa currently charges 1.5% to 2.4% in consumer credit card interchange rates, a fee that a merchant is required to pay with every credit card and debit card transaction.
Powell tells Congress that Fed will raise rates this month
Chairman Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed.
Report: Venture capital investments in Indiana companies hit all-time high
Indiana companies landed $1.4 billion in investments last year–a record amount, and nearly triple the value of investments in 2020, a new Elevate Ventures report says.
Federal Reserve governor opens door to half-point rate hike in March
Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
World shares mixed as investors eye Ukraine, inflation
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
First Internet leans into banking-as-a-service trend
Under the relatively rare model, a bank offers its expertise and capabilities to a fintech, allowing the fintech to provide iservices that require the involvement of a federally regulated and insured institution.
BKD CPAs & Advisors merges with North Carolina firm
BKD said its combination with Dixon Hughes Goodman will create a top 10 national professional services firm. BKD’s local office is the fourth-largest accounting firm in the Indianapolis area, according to IBJ research.
Homebuyers face another obstacle as costlier loans sap affordability
Costs for 30-year loans hit a more than two-year high of 3.69% last week, rising about 20% just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its benchmark rate.