The loans come from the Indiana Residential Infrastructure Fund — a revolving-loan fund created by statute three years ago to support housing development through low-interest municipal loans.
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Since a group of Byrider franchisees acquired the company in September 2024, it has installed a new senior leadership team, made a major investment in software technology and made other changes to lay the groundwork for a return to growth.
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Opponents say the rule change could reverse decades of lending protections and open the door to discrimination against Black people, Latinos and other minorities.
Prices have never been higher — and the auto loans are bigger and longer than ever to make purchases possible. The auto industry is increasingly worried how much more consumers can take.
The housing market recently crossed a noteworthy line: There are now more Americans with mortgage rates higher than 6% than below 3%.
The funds have been pummeled by a storm of rate cuts, market blow-ups and rising signs that the market is set to experience more stress.
There were about 5.3 million borrowers who had not made a payment on their federal student loans for at least 360 days as of June 30.
PayPal has provided $30 billion in loans to more than 420,000 businesses worldwide since 2013, according to the company.
Wednesday’s cut reduced the Fed’s key interest rate by a quarter-point, to about 3.6%, the lowest it has been in nearly three years.
Total credit and debit card swipe fees hit a record $187.2 billion last year, according to the trade group the Merchant Payments Coalition.
Even as the Education Department reopens loan forgiveness, the ongoing government shutdown could slow the agency’s ability to process discharges quickly.
Mortgage rates have been mostly declining since late July amid expectations that Federal Reserve would cut rates for the first time since last year.
Klarna sold 34.3 million shares to investors at $40 a share late Tuesday. That’s above the forecasted range of $35 to $37 a share and values the company at more than $15 billion.
Federal Reserve Chair Jerome Powell opened the door ever so slightly to lowering a key interest rate in the coming months but suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
Brendan McGrath, executive vice president and chief risk and compliance officer, will succeed Konich on Oct. 1.
The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that the central bank reduce borrowing costs.
The Federal Reserve Board reported that 14 percent of adults in fall 2023 had used buy-now-pay-later loans at least once in the past 12 months.
Michelle Bowman, who was appointed to the Fed’s board of governors by Donald Trump in 2018, is the second high-profile official to express support for a potential July cut in as many days.
Millions of Americans are suddenly facing dramatically lower credit scores from delinquent student loans, making it tougher for them to secure housing, insurance, car loans and even employment at a vulnerable time for the U.S. economy.
President Trump and Treasury Secretary Scott Bessent have said that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases.
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.
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.
