Mortgage rates have declined but could stay at level that makes it tough to afford home
The average rate on a 30-year mortgage in the U.S. has declined six weeks in a row, according to mortgage buyer Freddie Mac.
Banking & Finance
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Will Indiana join a wave of states offering new retirement savings option?
According to the U.S. Bureau of Labor Statistics, 30% of private-sector workers do not have access to a defined-contribution retirement plan through their employer.
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Q&A with First Internet Bank’s David Becker on apprenticeships as workforce training
Becker expects the bank’s apprenticeship program will gain momentum when changes to the high school diploma take effect, beginning with the class of 2029 (current eighth-graders).
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Civic leader, prominent attorney Robert H. McKinney dies at 98
McKinney’s name adorns the Indianapolis law school where he enrolled after World War II, and his presence has been felt throughout Indiana for more than 75 years, whether as an attorney, entrepreneur, banker, public servant, or civic leader.
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Carmel City Council OKs $19M TIF bond for Proscenium III project
Plans for the project call for 120 apartments, a 125-room high-end hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
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Articles
IRS drafting plan to cut up to half of its 90,000-person workforce, sources say
The layoffs are part of the Trump administration’s efforts to shrink the size of the federal workforce through billionaire Elon Musk’s Department of Government Efficiency.
Medical debt collection agency closes in Fishers
The collection agency, which had more than 90 employees, was ordered in 2023 to pay a $1.68M penalty for violations of federal debt-collection and credit-reporting laws.
Judge orders ban on DOGE from accessing sensitive Treasury data
U.S. District Judge Jeannette A. Vargas said there’s a public interest in protecting the security of personal information and banking information for Americans.
Mitch Daniels joins Indianapolis-based LDI Ltd. as executive partner
LDI, a family-owned holding company, said it plans to expand its operating portfolio in coming years and brought Mitch Daniels on board as an executive partner to help with this goal.
Partisan school boards, payday lending bills move forward
With the committee deadline over, lawmakers are now working with fewer bills in the 2025 session.
Thurston Springer acquires Florida-based financial firm
Indianapolis-based financial firm Thurston Springer Financial has acquired Florida-based Peak Reps in a deal that closed Jan. 31.
What does having the Consumer Financial Protection Bureau on hold mean for consumers?
Congress established the CFPB to monitor credit card companies, mortgage providers, debt collectors and other segments of the consumer finance industry.
Powell says Fed ‘well positioned’ for ‘risks and uncertainties’ that lie ahead
The Federal Reserve is prepared to keep its key interest rate unchanged for now as inflation remains elevated and the job market is solid, Chair Jerome Powell said Tuesday.
Trump directs Treasury to stop minting new pennies
Proponents of eliminating the coin have cited cost savings, speedier checkouts at cash registers, and the fact that a number of countries have already eliminated their one-cent coins.
Greenwood man pleads guilty, gets 10 years in prison for $3M fraud schemes
James Henley, 35, pleaded guilty to multiple charges in the schemes, including money laundering, aggravated identity theft and wire fraud.
Federal Reserve holds rates steady, sees inflation as ‘elevated’
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed.
Financial Center to absorb Post Office Credit Union in merger
Financial Center First Credit Union, which is among the Indianapolis area’s largest credit unions, plans to merge with the Indianapolis Post Office Credit Union.
Financial woes affect employees at work, new survey says
In a new report from Indianapolis-based Your Money Line, 61% of respondents reported constant financial anxiety and 84% said their financial concerns contributed to feelings of exhaustion and burnout.
Banks could see M&A growth in 2025 with more favorable regulatory environment
Will more Indiana-based banks will be included in M&A deals this year? Probably. And if recent trends hold true, those deals likely will involve Indiana banks acquiring out-of-state institutions, not other Indiana banks.
Medical software provider hc1 completes $6.25M funding round
The company said the funds would help it take advantage of its technology and expertise after its recent acquisition of Accumen, a Scottsdale, Arizona-based health care consultant.
Financial advisers in demand in digital age
The industry is in expansion mode, with job growth expected to significantly outpace overall U.S. job growth over the next several years.
U.S. payrolls growth picks up, unemployment rate drops
The U.S. economy in December added the most jobs since March, capping a surprisingly strong year and supporting the case for a pause in Federal Reserve interest-rate cuts.
OneAmerica pledges to raise base pay rate to $22 per hour
Indianapolis-based OneAmerica Financial, the city’s largest private company, announced Wednesday that it will raise its minimum pay rate to the equivalent of $22 per hour for all full-time employees by March.
Indianapolis tech startup Stellar lands $2.7M in seed funding
The seed round was oversubscribed, meaning Stellar Technology Services attracted more investor interest than anticipated.