BankInovation
JULY 17, 2020
Fintechs looking to expand beyond their Bay Area or New York City headquarters have welcomed an unlikely visitor in recent years: Utah Gov. The governor is a great salesperson,” said Val Hale, executive director for the Utah Governor’s Office of Economic Development. Gary Herbert. “The
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.
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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. FDIC) and the state of Utah for an industrial loan company (ILC) charter.
PYMNTS
DECEMBER 19, 2018
San Francisco-based FinTech company Square, known for its white card readers, has once again decided to become a banking establishment, according to a report in The Wall Street Journal. The company had previously asked to start a bank in September of 2017, but eventually withdrew from the process over procedural issues.
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. And while much has been quiet on the ILC front ever since, as of 2017, two big FinTechs made them very visible again: Sofi in June and Square in mid-September. Industrial banks are not subject to BHA.
CB Insights
AUGUST 7, 2019
Japan-based e-commerce retailer Rakuten aims to launch a bank in Utah to provide loans and financial services to its customers. The post Client Note: E-Commerce Co Eyes Bank Charter, Amazon Acquires Cloud Storage Provider, Klarna Becomes Most Valuable European Fintech, And More appeared first on CB Insights Research.
PYMNTS
MARCH 19, 2020
Also, Square won a banking license for an industrial bank in Utah. Square Financial Services will originate commercial loans to the retailers that use Square for payments. FinTech leader Fiserv has acquired independent software vendor Bypass Mobile, an innovator in the point-of-sale systems arena. Fiserv Acquires Bypass Mobile.
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