Square

Mom-and-pop shops left holding bag in consumer card disputes

06/12/20

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

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Even with FDIC endorsement, fintechs' path to becoming banks is bumpy

06/03/20

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

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Prepping for PPP 2.0, new bankers’ hours, rethinking branch design: Top stories of the week

04/24/20

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.

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‘Leave room for the little guys’: Square's advice for PPP 2.0

04/17/20

Square Capital and other online lenders joined the Paycheck Protection Program just before it ran out of money. Now they’re ready and waiting for Congress to reload funds that could be better aimed at the smallest companies.

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Fintechs OK'd to make emergency small-business loans

04/13/20

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the OK. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.

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Square gets OK for bank; Banks seek regulatory relief

03/19/20

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis.

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ILC freeze breaks with federal approvals for Square, Nelnet

03/18/20

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

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Speed matters during a crisis. Here's how tech can help.

03/18/20

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

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FDIC nears decision on ILC bids as it floats new standards for charter

03/17/20

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

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FDIC to issue proposal on ILCs at agency board meeting

03/11/20

A decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system.

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