Square

Cordray resigns; OCC becoming banks' best friend?

11/16/17

CFPB director’s departure gives President Trump the chance to revamp the agency; the bank regulator is reverting to its industry-friendly ways.

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Equifax interim CEO pleads ignorance; All’s well for bitcoin

11/09/17

Barros has no answer for Senate committee on encryption; a bitcoin network split won’t happen … for now.

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ICBA opposes Square's ILC application

10/11/17

The Independent Community Bankers of America is formally opposing a bank charter application by payments processor Square, accusing it of trying to “avoid” certain “legal prohibitions and restrictions.”

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Why are Amazon, PayPal meeting with bank regulators?

09/29/17

Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.

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'Fintechs tend to march to their own rules': former SEC chair Levitt

09/28/17

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

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‘Talk about unfair and deceptive!’: Comments of week

09/22/17

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

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The story behind Square’s bank charter application

09/19/17

The payments processor Square has big plans in banking — but even after filing an application to charter an industrial loan company, it still doesn’t see itself as a competitor to most financial institutions.

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ICBA calls for two-year freeze on new ILCs

09/15/17

The Independent Community Bankers of America had initially called for a moratorium in response to SoFi's application, and says now that Square's bid "has significantly increased our concerns."

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Lawmakers stay clear of ILC charter debate … for now

09/13/17

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way.

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Square’s ILC bid may open floodgates for fintechs

09/11/17

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

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