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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.

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

Brick-and-mortar merchants that have shifted to online have changed their risk profile, causing conflicts with the fintechs like Square that handle their payments. And that could be an opportunity for banks.

Square has begun holding onto a portion of some sellers’ payments, demonstrating how liquidity shortages challenge the recovery for both businesses and the companies that process their payments.

Markus Braun turned himself in to Munich prosecutors, who arrested him on suspicion of false accounting and market manipulation; the Wirecard fallout may make it harder for European fintechs to attract investors.

Square has added fuel to its growing Cash transfer service by agreeing to buy Verse, a Spanish P2P app.

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

Twitter Inc. and Square Inc. will observe Juneteenth or June 19 as a company holiday going forward to commemorate the ending of slavery in the U.S., according to a tweet from Jack Dorsey, chief executive officer of both companies.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

When the coronavirus pandemic began, Square pushed hard to get a bigger share of merchants' online sales and consumers' stimulus spending — and even received its long-desired bank license — but found that this wasn't enough to offset the effects of the crisis.