Block's Square Financial Services receives FDIC lending approval

Block issued FDIC approval to originate and service loans affecting FDIC on March 1, 2025.

Primary

Block

Counterparty

FDIC

Structure

FDIC approval to originate and service loans

Date

March 1, 2025

Sub-sector

Lending

FDIC approval enables Block to directly originate Cash App Borrow loans and retain full revenue, bypassing sponsor bank dependencies and scaling lending to underserved younger and gig-economy demographics.

Primary company

Block

Counterparty

FDIC

Amount

Not disclosed

Event date

March 1, 2025

Sub-sector

Lending

HQ

Not disclosed

Structure

FDIC approval to originate and service loans

Source published

July 16, 2026

Publisher

American Banker

Source: americanbanker.com