Cards FDIC Fintech Retail 
PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments. Square, Inc.
PYMNTS
JULY 26, 2019
A Japanese FinTech company is applying for a banking charter in the United States, according to a report by American Banker. FDIC) and the state of Utah for an industrial loan company (ILC) charter. The company also wants to give members a credit card to make purchases in the future and also earn rewards. . “We
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
OCTOBER 22, 2019
announced that it is partnering with Evolve Bank & Trust , an FDIC-insured financial services organization, to offer a full suite of customizable credit, debit, prepaid and DDA products. Founded in 1925, Evolve Bank & Trust operates retail branches throughout the mid-south and mortgage production offices nationwide.
PYMNTS
JULY 24, 2019
“If you look at where the big banks and brokerages make most of their money, it’s in their retail savings accounts.”. Profits from the new offerings will come from debit card interchange fees, the article said. Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter.
PYMNTS
JULY 14, 2020
“Given how much the demand for installments is increasing, we are also using the already existing parts of the credit system today to scale installment payments with every [Visa] card across the board,” Cetin Duransoy , Visa ’s global head of installment solutions, told PYMNTS. Fast and Furious BNPL Action. The account comes with 1.30
Bank Innovation
FEBRUARY 18, 2019
Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.
PYMNTS
OCTOBER 17, 2017
An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks. And those can take a while.
Expert insights. Personalized for you.
276 
Let's personalize your content