STATE GOVERNMENT RELATIONS
Braun wins governor's race, extending GOP's reign to 5 terms
Mike Braun extended the Indiana Republican's gubernatorial dynasty to five terms when he defeated Democrat Jennifer McCormick and Libertarian Donald Rainwater on Tuesday in the most expensive statewide race in Indiana history.
Republicans capture Indiana House supermajority for seventh straight election
Republicans have secured at least 69 House seats to the 30 Democratic seats, extending the GOP supermajority in place since the 2012 election.
Incumbents win in 2 tight Indiana House races; Cash-Stoner outcome uncertain
The election outcome remained uncertain in one Indiana House district where Republican incumbent Becky Cash led Democrat Tiffany Stoner by less than one-tenth of a percentage point. Two other House incumbents – Republican Rep. Dave Hall and Democratic Rep. Wendy Dant Chesser – prevailed with narrow victories that aren't expected to face recount challenges.
Braun shares early insight into issues he will tackle as governor
Braun said his 13-point margin of victory gives him leverage with the legislature going into his first term, adding that the two government branches now have "a platter of opportunity" to accomplish things for Hoosiers.
Holcomb announces Habig to step down from State Budget Agency
Gov. Eric Holcomb announced that Joe Habig would step down as acting budget director of the Indiana State Budget Agency and that a successor would be announced later.
Rokita details second term goals
Indiana Attorney General Todd Rokita has announced plans to focus on illegal immigration, curb what he described as misuse of the state's legal system and protect local markets during his second term.
State Republicans stick with leadership teams
In the Senate, President Pro Tem Rodric Bray, R-Martinsville, will continue as caucus leader; Sen. Chris Garten, R-Charlestown, as majority floor leader; and Sen. Travis Holdman, R-Markle, as majority caucus chairman. House Republicans reelected Todd Huston, R-Fishers, as House speaker; Rep. Greg Steuerwald, R-Avon, as majority caucus chair; and Rep. Matt Lehman, R-Berne, as majority floor leader.
Indiana House Democrats reelect leadership team
Rep. Phil GiaQuinta, D-Fort Wayne, will continue as the minority leader. Rep. Cherrish Pryor, D-Indianapolis, was again chosen as minority floor leader, and Rep. Carey Hamilton, D-Indianapolis, will continue as minority caucus chair.
FEDERAL GOVERNMENT RELATIONS
Trump wins second term
Former President Donald Trump has secured enough electoral votes to win the presidential election. As he returns to office with a popular vote victory, Trump will also have a GOP Senate majority, flipping the chamber from Democratic control. However, too many House races were too close to call to determine which party will control the lower chamber.
The election will reshape the Senate committee overseeing banking. In Ohio, Republican Bernie Moreno defeated Senate Banking Committee Chairman Sherrod Brown, D-Ohio. In Montana, Republican Tim Sheehy ousted longtime committee member Sen. Jon Tester, D-Mont. Senate Banking Committee Ranking Member Tim Scott, R-S.C., is in line to take over the committee's chairmanship. Overall, the GOP is expected to have a minimum of 52 seats in the Senate, up from 49 in the current Congress.
Fed's Powell flags careful, patient approach after rate cut
The Federal Reserve cut interest rates by a quarter of a percentage point on Thursday as its policymakers began taking stock of what could become a more complex economic landscape when President-elect Donald Trump takes office next year.
Fed Chair Jerome Powell said Tuesday's presidential election results would have no "near-term" impact on U.S. monetary policy. Powell said the Fed will continue assessing data to determine the "pace and destination" of interest rates as officials reset currently tight monetary policy to account for inflation that has slowed markedly in the past year and is nearing the U.S. central bank's 2% target.
US stocks, dollar rise as Trump secures election victory
U.S. stock futures rallied, Treasury yields rose and the dollar surged as Donald Trump claimed victory in the presidential election after securing several key swing states. Bitcoin prices climbed to a record.
Read more from the Wall Street Journal
Report finds lenders increasingly targeted by fake identity scams
The percentage of synthetic identities among accounts opened by U.S. lenders for auto loans, bank credit cards, retail credit cards and unsecured personal loans reached an all-time high at the end of the first half of 2024. As a result of the increase, lenders were exposed to $3.2 billion in potential losses, which is also an all-time high and 7% more than the end of the first half of 2023.
Synthetic identities among accounts opened rose 18% in 2024 compared to the previous year. The total lender exposure to synthetic identities for auto loans had balances roughly double those of the bankcard sector, which ranked second among credit types analyzed.
FEMA publishes final rule allowing monthly payments for flood insurance premiums
The Federal Emergency Management Agency issued a final rule that revises National Flood Insurance Program regulations to allow policyholders to pay their annual flood insurance premium in monthly installments. This change is in line with the requirements of the Biggert-Waters Flood Insurance Reform Act of 2012, which mandates that FEMA provide policyholders who are not required to escrow their premiums with the flexibility to choose between annual or monthly payment options. The new rule will take effect on Dec. 31, 2024.