Square Gets FDIC's Approval To Launch A Bank In 2021

Law360 (March 18, 2020, 9:21 PM EDT) -- Electronic payments company Square received the green light Wednesday to launch a bank after the Federal Deposit Insurance Corp. announced that it had conditionally approved the company's application to launch an industrial loan company.

Square Inc., founded by Twitter CEO Jack Dorsey, said it plans to launch Square Financial Services next year as an independent subsidiary. The new bank received deposit insurance approval linked to the FDIC's industrial loan company bank charter, and its primary line of business will be originating small business loans to companies using Square services to process payments as well as providing deposit products, Square said in...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!