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.
PYMNTS
JULY 26, 2019
FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO. We’ll have specific goals for community service and investments back into the community.”.
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PYMNTS
DECEMBER 14, 2020
“Safety is our top priority, on and off the mountain, and Square knows this and aligns with POWDR’s Operation Stay Safe, the enhanced POWDR mountain experience that prioritizes the well-being of our staff, guests and community in the midst of the pandemic.”.
PYMNTS
JULY 2, 2020
The tech company, which has 271 retail shops in the United States, has recently closed 47 stores again, CNBC reported. Locations in California, Alabama, Idaho, Georgia, Oklahoma, Nevada and Louisiana are set to shutter on Thursday, while shops in Mississippi, Texas, Florida and Utah were shuttered as of Wednesday (July 1).
PYMNTS
JANUARY 4, 2017
The total roster now claims more than 1,600 banks and credit unions domestically, said the site, even as 35 percent of retailers in the U.S. support Apple Pay. As has been reported, Apple Pay is also available internationally in, among other nations, Australia, China, Hong Kong, Japan, Spain, the U.K. and Switzerland.
PYMNTS
DECEMBER 20, 2018
Through gpi, SWIFT and its community have managed to radically innovate the very core of correspondent banking,” said Chief Marketing Officer Luc Meurant in a press release providing the business update, and where universal update is being targeted for 2020. The application is for a special industrial loan company license.
PYMNTS
OCTOBER 17, 2017
All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank. Industrial banks are not subject to BHA. billion to more than 141,000 firms.
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