Despite the fact that they are currently being hotly pursued by technologists, the Industrial Loan Charter (ILC) is not exactly a new idea. The concept – originally called a Morris loan – first appeared on the American financial services landscape in 1910, and has occupied a fairly small corner...
October 17, 2017
Despite the fact that they are currently being hotly pursued by technologists, the Industrial Loan Charter (ILC) is not exactly a new idea. The concept – originally called a Morris loan – first appeared on the American financial services landscape in 1910, and has occupied a fairly small corner of the financial services marketplace ever since. ILCs are used to […]
March 19, 2020
The Federal Deposit Insurance Corporation (FDIC) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments. The headquarters will be in Salt […]
