Square Will Reapply for Banking License with the FDIC After Last Week’s Withdrawal

Payment processor #Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application #last fall. However, unlike SoFI, Square plans to refile its application, attributing Thursday’s #withdrawal to mere procedural issues. It plans to #reapply with the #FDIC, but did not reveal […]
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