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The CEO of the nation's biggest bank gave the fintech props for revolutionizing payments and then building off its success to provide a whole range of services to small-business clients.

More than three dozen organizations are asking the FDIC to reject Square’s pending application to become an industrial loan company, according to a letter filed Tuesday.

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.

Despite complaints about the slow pace of change within government, policymakers, including agency heads, are increasingly focused on modernizing regulation, an important step forward for the industry.

The industrial loan company charter is getting more attention as doubts grow about a new federal license for fintechs.

The mobile point of sale pioneer Square has done much to expand its product range to stay competitive, and a few of those efforts have made the company more of a direct threat to banks.

The mobile point of sale pioneer Square has done much to expand its product range to stay competitive, and a few of those efforts have made the company more of a direct threat to banks.

Square's new card for business owners does something very bold with debit — and very troubling for banks.

Square just found a replacement for high-profile CFO Sarah Friar but is facing another big hole in its leadership team as head of payments Mary Kay Bowman leaves for Visa.

Square has rolled out a software development kit for developers to add payments to their mobile apps, creating an end-to-end solution using only Square’s tools.

Square Inc. named Activision Blizzard Inc. executive Amrita Ahuja as chief financial officer, replacing Sarah Friar, who stepped down from her role as Jack Dorsey’s No. 2 at the digital-payments company last month.

The NYSE contract will pay out in cryptocurrency; 10 Estonians who worked at the Danish bank were detained, and prosecutors promise more arrests.

The payments processor was among numerous firms earlier this year to withdraw an ILC charter application over questions about its plan.

As the economy softens, traditional banks have an opportunity to win back market share from fintech competitors.

As companies mature out of their startup phase, their sales growth curves begin to flatten and costs start to rise — unless, of course, they change their business model. And that’s exactly what Square is doing to maintain its startup-style growth.

Square gave an earnings forecast in the current quarter that missed analysts’ estimates, amid increasing spending on new products beyond its central payments processing business. The profit projection outweighed a strong sales outlook, sending shares down in extended trading.

Crowdsourced cybersecurity is making inroads into the world of big banks, even though there is a risk bad actors will exploit the opportunity.

Square’s growth strategy has always been to aim higher with products and services that benefit larger businesses than the ones it originally targeted with its mobile card reader. Its newest product diverges from that path.

Banks currently enjoy the pole position, but until they revamp and modernize their lending processes to better compete with the speed and convenience of nontraditional lenders, they will continue to lose market share, writes Trevor Dryer, CEO and co-founder of Mirador.

As Venmo does battle with Zelle and Square for consumers' P2P payments, one thing is clear: Innovation is not cheap.