Indiana Members CEO to retire after 37 years with credit union
President and CEO Ron Collier has managed 33 mergers and acquisitions at Indiana Members Credit Union since 1985.
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IRS faces 35M unprocessed tax returns as backlog swells, watchdog says
The support line for individual income tax returns received about 85 million calls, with only about 3% reaching a customer service representative, according to the taxpayer advocate report.
Wall Street closes out its 5th straight quarterly gain
Optimism over the economy’s prospects as coronavirus restrictions continue to lift has sent the market to a series of record highs, including the third straight for the S&P 500.
Livestreaming software firm Mandolin lands $12M in growth capital
The Series A funding round was led by New York City-based 645 Ventures and Boulder, Colorado-based Foundry Group, with returning investments from locally-based High Alpha and Time Ventures.
Automotive tech marketing firm lands $4.5M in growth capital
Entrepreneur and private investor Rick Gibbs, who co-founded Dealer.com in 1998 and sold it Dealertrack for a billion dollars in 2014, has joined Driven Data as chairman as part of the investment.
First Internet Bank promotes COO Lorch to president
David Becker, who founded the Fishers-based bank in 1999, will relinquish his role as president but remain at the bank as CEO and chairman.
All big banks pass latest Federal Reserve ‘stress tests’
All 23 of the nation’s biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday.
Congress repeals Trump-era regulations on payday lenders
Congress on Thursday overturned a set of regulations enacted in the final days of the Trump administration that effectively allowed payday lenders to avoid state laws capping interest rates.
White House replaces regulator for mortgage giants after Supreme Court ruling
The White House replaced the regulator who oversees mortgage giants Fannie Mae and Freddie Mac after the Supreme Court ruled that the leadership structure of the Federal Housing Finance Agency was unconstitutional.
Wall Street snaps back following worst week since February
Investors are still figuring all the ramifications of the Fed’s latest meeting on interest-rate policy, where it indicated it may start raising short-term rates by late 2023.
2021 Indiana 100: Attorney-turned-HR officer works to diversify bank
During a 2015 lunch with the bank’s president and CEO, Cindy Konich, and its then-human resources director, Lottie told them how much she enjoyed working on human resources and employment-law issues. She thought it was a casual conversation, but her colleagues had something else in mind.
Bank sues former Carmel staffers who left for rival
Busey Bank says it has lost more than $100 million in loans to a competitor because of “brazen and systematic poaching” of its employees.
Ohio-based CFBank entering Indianapolis market
Indianapolis is the first non-Ohio market and the fourth market overall, for CFBank. The company has hired a market president and is currently scouting for office space.
Fed boosts inflation forecasts, moves up expectations for interest rate hike
The Federal Reserve expects inflation will climb to 3.4% this year, higher than the central bank’s previous forecasts, and projected for the first time that there could be two interest rate hikes in 2023.
Noblesville council OKs $19M short-term loan before considering $56M bond
The Noblesville City Council approved the bond anticipation note Tuesday to set the stage for a much larger future bond dedicated to the planned Pleasant Street expansion project.
Delicate task for Fed: When to pull back on low-rate support
With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion.
Renew Indianapolis expands loan program into Hamilton County
The program, Build Fund, helps small businesses that are not ready for traditional bank loans receive affordable funding.
Jeweler Alex and Ani files bankruptcy after rapid expansion
Indianapolis-based mall owner Simon Property Group is among the retailer’s largest unsecured creditors; it is owed more than $3 million in rent payments.
Senators push measure to accelerate donor-advised funds, foundation giving
Two key U.S. senators introduced legislation Wednesday designed to spur faster payouts from donor-advised funds and foundations, giving new momentum to an effort that has deeply divided philanthropy.
Fed survey sees faster growth despite supply-chain problems
Several of the central bank’s districts reported that increased vaccination rates and relaxed social-distancing measures were having a positive impact on the economy.