Square’s ILC bid may open floodgates for fintechs
Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow. ... Read full article
News Topic: Square
Search Results
What critics of fintech ILC bids aren’t saying
Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors. ... Read full article
Can artificial intelligence match credit cards to millennials?
Petal is using machine learning in its new card program to make the most of the scant financial data available from young consumers. ... Read full article
Square applies for a bank license; Fischer resigns from Fed
Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board. ... Read full article
Square to apply for industrial bank, inflaming ILC debate
The company's application, which is expected to be announced as early as Thursday, comes after online lender SoFi applied in June for an industrial loan company. The bank is expected to be led by a former Green Dot executive. ... Read full article
What JPMorgan's latest moves reveal about online lending's future
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash. ... Read full article
Square’s loans go mostly to women; women senior bank leaders still scarce
Though statistically women have trouble getting small business loans, Square's granting more than half its loans to women; latest numbers show only one in four bank senior execs are female. ... Read full article