Square

Crypto played a key role in Square's 140% year-over-year growth in revenue for the third quarter — and 212% growth in gross profit for the Cash App alone.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.

Square is moving to help minority and underserved groups by investing $100 million in nonprofit financial institutions and Black-owned businesses.

Square is entering the earned wage access (EWA) fray, but it’s taking a tailored approach that aims to drive transaction volume within its Cash App.

The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.

Two trade organizations and a consumer group urged lawmakers to establish a three-year moratorium to block the charter bids of companies that they said were attempting to skirt regulatory requirements.

What made the attack on famous Twitter accounts so problematic wasn’t the high profile of its victims, but the non-technical and repeatable method the assailants used.

Restaurants, medical offices and car dealerships were the top recipients of large loans; increased usage of the drive-ups is putting a strain on the low-tech lanes.