Square Revives Request to Start a Bank
The new unit, to be capitalized with $56 million, would primarily offer loans, deposit accounts and prepaid cards to small businesses
Square Inc. is making another run at the banking business.
The San Francisco-based financial-technology company said it plans to refile paperwork with state and federal regulators to open a wholly owned bank in Utah as early as Wednesday.
Square Financial Services Inc., as the new unit will be called, would primarily offer loans, deposit...