WASHINGTON — The Independent Community Bankers of America is formally opposing a bank charter application by the payments processor Square, accusing it of trying to “avoid” certain “legal prohibitions ...

WASHINGTON — The payments processor Square confirmed Thursday that it has withdrawn its application to open a depository bank, although it plans to refile with a top regulator at a later date.

We previously reported on payment processor Square, Inc.’s application for an industrial loan company (ILC) charter. That is now over, at least for the time being. Last week, Square announced that it ...