Tag: ILC

Square Gets Go-Ahead to Establish Bank

Two and a half years after filing its first application, Square announced last week that it has received the green light to move forward with creating an industrial bank for small businesses.

Community Bankers Renew Objections to Square ILC Application in New White Paper

Issuing a white paper that details its objections to the industrial loan company (ILC) charter, the Independent Community Bankers of America (ICBA) this week urged Congress to “close the ILC loophole permanently.”