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FDIC Approves Square For Banking License

PYMNTS

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). The headquarters will be in Salt Lake City, Utah. Square launched its campaign to open a bank more than two years ago.

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Japanese FinTech Rakuten Applying For US Banking Charter 

PYMNTS

FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO. We’ll have specific goals for community service and investments back into the community.”.

Fintech 192
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Reconnecting One Step at a Time

Perficient

Activities included biking down Lakeshore Drive, walking in the Chicago suburbs, running in Utah, and hiking in the Smoky Mountains – to name a few! See open jobs or join our talent community for career tips, job openings, company updates, and more! miles in the Perficient Virtual Fitness Challenge.

Chicago 322
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Banking Strategies: Should We Look to Utah?

Jeff For Banks

Just this month I taught Bank Profitability at the Utah Bankers'' Association Executive Development Program. Utah, home of the Industrial Bank, is the epicenter of niche banking. Many community bankers would roll their eyes at such banks. And yes, why can''t we learn from the 31 active Industrial Banks from Utah?

Utah 87
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Square Partners With POWDR To Offer Ski Resorts Contactless Transactions

PYMNTS

“Safety is our top priority, on and off the mountain, and Square knows this and aligns with POWDR’s Operation Stay Safe, the enhanced POWDR mountain experience that prioritizes the well-being of our staff, guests and community in the midst of the pandemic.”.

Vermont 257
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New York To Sunbelt State Tourists: Stay Home

PYMNTS

The quarantine will go into effect at midnight and will cover all visitors from a range of states “with significant community spread of COVID,” the governors wrote in a statement posted on Twitter. Ned Lamont announced the travel advisory on Wednesday (June 24) at a joint press conference.

New York 227
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Utah federal court rejects constitutional challenge to CFPB’s funding mechanism

CFPB Monitor

A Utah federal district court has rejected the attemp t of The Center for Excellence in Higher Education (CEHE) to invalidate a civil investigative demand (CID) issued by the CFPB based on a challenge to the constitutionality of the CFPB’s funding mechanism. .

Utah 78