Visa, Mastercard reach settlement in 20-year merchant legal feud
Total credit and debit card swipe fees hit a record $187.2 billion last year, according to the trade group the Merchant Payments Coalition.
Loans
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Central Indiana’s largest office park secures new loan, additional investment
More than $36 million already has been invested into the campus over the past eight years, with updates to building systems, indoor and outdoor amenities, lobby spaces, restrooms and facades.
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Car loan defaults jump as consumers battle inflation, high interest rates
A Cox Automotive report finds that car repossessions nationwide are up 23% over last year and 14% compared with the first half of 2019.
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City secures $24M loan from state for ‘confidential’ downtown project
The loan, which was approved by the Metropolitan Development Commission, is expected to be used for “downtown redevelopment efforts.”
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Circle Tower owner facing foreclosure for alleged nonpayment
Chicago co-working company Expansive bought the landmark building on Monument Circle before the pandemic. Centier Bank says Expansive still owes $12.9M on its loan and has fallen behind on payments.
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Articles
Trump administration resumes student loan forgiveness
Even as the Education Department reopens loan forgiveness, the ongoing government shutdown could slow the agency’s ability to process discharges quickly.
Average rate on 30-year mortgage falls again, dips to lowest level in almost a year
Mortgage rates have been mostly declining since late July amid expectations that Federal Reserve would cut rates for the first time since last year.
Buy-now-pay-later company Klarna goes public in largest IPO of 2025
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.
Powell signals Fed may cut rates soon even as inflation risks remain
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.
CEO Cindy Konich stepping down after 41 years at Federal Home Loan Bank
Brendan McGrath, executive vice president and chief risk and compliance officer, will succeed Konich on Oct. 1.
Federal Reserve leaves interest rates unchanged even as Trump demands cuts
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.
Credit scores getting buy-now-pay-later update. Here’s what that means.
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.
Federal Reserve’s Bowman says rate cut should be on table in July
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 hit with bad credit after missed student loan payments
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.
Federal Reserve likely to ignore Trump, keep rates unchanged this week
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.
Mortgage company Rocket continues acquisition spree with $9.4B deal
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.
Economists expect Fed to cut rates twice this year
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.
Council committee recommends $66M in bonds for Old City Hall redevelopment
The $249 million plan calls for rehabilitating the 116-year-old former municipal building at 202 Alabama St. and building a 387-foot tower with 186 apartments, 23 condominiums and 156 hotel rooms.
Automakers want to start banks, hoping to benefit from lighter-touch rules
In addition to the three U.S. carmakers, several other nonfinancial businesses are interested in seeking regulatory permission to launch their own banks.
Partisan school boards, payday lending bills move forward
With the committee deadline over, lawmakers are now working with fewer bills in the 2025 session.
Trump OKs $782M loan to Indianapolis company’s sustainable jet fuel subsidiary
Montana Renewables is a subsidiary of Indianapolis-based Calumet Specialty Products Partners LP. Calumet launched Montana Renewables in 2021 with the goal of becoming one of the top renewable diesel producers in North America.
Indiana lawmaker seeks regulations for early-wage-access industry
Critics of the bill, authored by Republican Rep. Jake Teshka, summed the proposal up as “re-warmed payday lending.”
Legal battle looms as Trump orders funding freeze during review of federal loans, grants
The White House is pausing federal grants and loans starting Tuesday as President Donald Trump’s administration begins an across-the-board ideological review of its spending.
Federal consumer agency bans unpaid medical bills from credit reports
The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, according to the bureau.