Loan defaults at record lows, despite impact of pandemic
Indiana bankers cite federal COVID-19 relief measures as a big reason—but not the only one.
Indiana bankers cite federal COVID-19 relief measures as a big reason—but not the only one.
The company, which offers cloud-based software and other products for call-center operators, has a significant presence in Indianapolis but it’s unclear how the recent investment might affect local operations.
A sentencing hearing is scheduled Thursday for BancServ Partners LLC founder Kerri Agee, who was found guilty on fraud and conspiracy charges in August.
A number other banks have announced this year—Ally Bank and regional banking giant PNC for example—that they would end overdraft fees or create programs that would greatly lower the chance a customer would get hit with an overdraft fees.
By picking Jerome Powell to stay on as chair of the powerful Federal Reserve, President Joe Biden is trying to navigate hazardous crosscurrents between economic and political forces.
Their opposition comes as President Joe Biden is expected to announce within days whom he will choose for the nation’s most powerful economic position.
The equity investment is by far the largest single capital raise by an Indiana-based technology company in the state’s history, according to Indianapolis-based TechPoint, a not-for-profit that supports the state’s tech industry.
Saule Omarovaa’s previous criticism of the banking industry makes the banks fearful she will be a tough regulator for Wall Street. They also are wary because of academic writings in which she has proposed substantial overhauls to how banks operate in the U.S.
Fort Wayne-based STAR, which has 13 banking offices in the Indianapolis market, said it sees a business opportunity in Bitcoin and plans to add additional cryptocurrency services as demand warrants.
A blank-check company, or SPAC, plans to close early next year on a merger with California-based Energy Vault that will take the company public and give it a cash infusion of $388 million.
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
Fishers-based First Internet says it expects that its $80 million acquisition of Georgia-based First Century Bank will be complete early next year. The deal brings several new product lines to First Internet’s existing offerings.
Work is underway to determine what kind of support services Black-owned businesses will need to complement the loan fund.
The stock buyback offer, announced Thursday, applies to up to 2 million shares of Class A common stock at $2.60 per share, or more than $1 per share above the closing price of Emmis shares on Thursday.
The Justice Department announced Friday a cross-government effort to investigate and prosecute redlining, the practice of banks discriminating against racial minorities or certain neighborhoods.
Fewer students have been entering the accounting profession, and a salary gap between accounting and other financial professions means those accounting students might be lured to a different field.
In its first significant action under a new director, the Consumer Financial Protection Bureau is ordering Apple, Amazon, PayPal and other tech giants to reveal how their proprietary payment networks function.
The Federal Reserve announced Thursday that its policymakers and senior staff would be barred from investing in individual stocks and bonds.
Indianapolis is making preparations for its first Black-led Community Development Financial Institution, which will aim to offer businesses in economically disadvantaged communities access to capital and other help.
Most of of the funding will will go to improve mortgage access, capital access for small businesses and other education resources in the northeast-side neighborhood.