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). The headquarters will be in Salt Lake City, Utah.

FDIC 276

FDIC Utah San Francisco Capital 276

CFPB Monitor

AUGUST 7, 2020

As other fintechs mature and grow nationally, the message from the federal banking system is: come on in. The OCC and FDIC both continue to demonstrate keen interest in supporting technology and innovation in the delivery of consumer financial services. The water’s fine!”. Varo Bank, N.A.’s However, as the Varo Bank N.A.

Fintech 78

Fintech FDIC Utah National 78

PYMNTS

DECEMBER 20, 2018

This time around, marquee tech names such as Apple , Google and Amazon are voicing support for a real-time payments system to be spearheaded by the Federal Reserve. King argued that banks would have to use both systems, which would lead to inefficiencies and added expenses. Regulators had said a refiling would be permitted.

Utah 134

Utah FDIC System Retail 134

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.

Industry 108

Industry Fintech FDIC Community Bank 108