Can Square Succeed Where Walmart Fell Short? Bankers Are Set on Ensuring It Doesn’t

Banks around the country and around the world have major Square envy. Now, as they continue to grow their lending business, the banking lobby is doing their best to stop their rapid growth.

The Independent Community Bankers Association is mounting an effort it hopes will do more than delay efforts not only by Square but by other fintechs to establish banks. The Washington, D.C-based trade group this week released a white paper decrying the availability of banking licenses for business entities controlled by nonbanks


Want to receive more content like this in your inbox?