Square again looking to start a bank

|By:, SA News Editor

The company as early as today could refile with government regulators its plans to open a bank in Utah, reports the WSJ. A bit more than a year ago, Square (NYSE:SQ) filed similarly, but soon withdrew the application for procedural reasons.

To be named Square Financial Services, the new bank would mostly offer loans, deposits, and prepaid cards to small businesses. The effort is to be led by former Green Dot executive Lewis Goodwin.

Square is up 2.9% in early action today.

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