Square’s Utah Bank Now Open For Business

Square is now operating its state-chartered industrial bank, Square Financial Services, in Utah after the state’s Department of Financial Institutions gave it the green light, according to a press release emailed to PYMNTS. Square submitted its application back in September 2017. From there, it was amended in December 2018 and finally approved as of March 17, 2020, the release stated. Now, a year later, as Square has satisfied all its opening requirements, it is ready to open the business.
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