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.
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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.
Elements CEO stepping down after 17 years leading credit union
Lisa Schlehuber has served as CEO of Indianapolis-based Elements Financial since 2005. She’ll retire from the role in April, the credit union announced Wednesday.
Jasper-based German American Bank set to enter Indianapolis market
German American, which has 78 locations in 33 Indiana and Kentucky counties, said it plans to open a loan production office in Greenwood this quarter. It will be the bank’s first physical presence in this market.
Fed plans to raise rates starting in March to cool inflation
With high inflation squeezing consumers and businesses and unemployment falling steadily, the Fed also said it would phase out its monthly bond purchases, which have been intended to lower longer-term rates, in March.
Dow drops 1,000 points as markets extend slide in 2022
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
Taxpayers face overloaded IRS as filing season opens Monday
An IRS worker shortage and an enormous workload from administering pandemic-related programs will combine to cause taxpayers pain this filing season.
High Alpha startup Castiron lands $6M in seed funding
High Alpha launched Castiron in October. The startup offers a platform for culinary artisans to sell their products, connect with customers and run their businesses.
Longtime Financial Center CEO Ryan retiring
J. Kevin Ryan, CEO of Indianapolis-based Financial Center First Credit Union, is set to retire after 40 years in the industry, the credit union announced Tuesday.
Safeway supermarkets switches to employee-owned structure
The former owner of the five-store local chain said he made the switch to reward employees, who also will benefit from significant state and federal tax advantages.
Private equity firm that focuses on small companies inks 12 deals since 2018 launch
Monument Microcap Partners has also added three partners and two other employees, plus a branch office in the metro Detroit area.
Navient settles predatory student loan claims for $1.85B
Navient, a major student loan collecting company, agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the United States and pay over $140 million in other penalties to settle allegations of abusive lending practices.
Hoosier technology sector shatters investment record
TechPoint, the state’s not-for-profit tech accelerator, said the state saw more than $958 million in venture capital investment last year, which is nearly triple the previous record set in 2019.