Indianapolis-based Greenwalt CPAs to merge with Cincinnati firm
Following the merger, which takes effect Jan. 1, Greenwalt will operate under the Barnes Dennig & Co. name.
Banking & Finance
Articles
Price of gold keeps climbing to unprecedented heights. Here’s why.
Gold hit another all time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world.
Department of Justice sues Visa, alleges card issuer monopolizes debit card markets
According to the DOJ’s complaint, 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions.
For home shoppers, Fed’s big rate cut is small step toward affording a home
While lower rates give home shoppers more purchasing power, a mortgage around 6% is still not low enough for many Americans struggling to afford a home.
Walmart plans instant bank payments, cutting out card networks
The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.
Federal Reserve cuts key interest rate by a sizable half-point, signaling end to its inflation fight
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Federal Reserve set to cut interest rates for first time in 4 years
At issue is how fast the Fed wants to lower interest rates to a point where they’re no longer acting as a brake on the economy—nor as an accelerant. Where that so-called “neutral” level falls isn’t clear.
Carmel-based Merchants Bank hires new CFO
Merchants Bank’s new chief financial officer, Sean Sievers, comes to the Carmel-based bank after holding similar positions at some of the nation’s largest banks and mortgage lenders.
Student loan servicer Navient reaches $120 million settlement
The settlement stems from a 2017 lawsuit brought by the bureau that casts Navient as a company that was far more concerned with its financial interests than the needs of vulnerable student loan borrowers.
Andretti SPAC completes $230M initial public offering
Andretti Acquisition Corp. II is a special purpose acquisition company (often called a blank-check company), or SPAC, formed with the intent of acquiring another company and taking it public.
Americans lost $5.6B last year in cryptocurrency fraud scams, FBI says
The FBI received nearly 70,000 complaints in 2023 by victims of financial fraud involving bitcoin, ether and other cryptocurrencies.
Former Old National CFO, on leave following criminal charges, parts ways with bank
Old National, the largest bank based in Indiana, placed CFO Brendon Falconer on leave in April after he was charged with two counts of child molestation.
Credit union taking HQ to Bottleworks District
Indiana Members Credit Union has more than 160,000 members and 31 branches across the state. The company, founded in 1956, also employs about 525 people statewide.
COVID-19 government disaster loans saved businesses, but saddled some survivors with debt
The SBA awarded about 4 million loans worth $380 billion through the program. More than $300 billion was outstanding as of late 2023.
Supreme Court rebuffs Biden administration plea to restore multibillion-dollar student debt plan
Cost estimates of the new Saving on a Valuable Education plan vary from $276 billion to $475 billion over 10 years.
NFL owners OK private equity stakes in teams of up to 10%
NFL owners for the first time have opened their teams to institutional investment after previously prohibiting it.
MBX Biosciences files intention to go public
The five-year-old, clinical-stage drugmaker has already raised more than $213 million to develop therapeutics to treat rare endocrine disorders, a huge amount for a startup.
Medical debt proposal draws mixed response
A national proposal to remove medical debt from consumer credit reports could have a significant impact in Indiana, where the percentage of residents with delinquent medical debt is higher than in 39 other states.
Price of gold reaches record high. Here’s why.
Interest in buying gold often comes at times of uncertainty—with potential concerns about inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money.
Indiana green-energy fund begins lending for renewables, efficiency projects
The commercial lending program targets Hoosier businesses, not-for-profits and governments to help lower their energy costs.