Block (XYZ) announced its industrial bank, Square Financial Services, has received approval from the Federal Deposit Insurance Corporation to

Block received approval from the Federal Deposit Insurance Corp. to offer a consumer loan product that is designed to provide consumers with short-term cash flows. Under the program, Cash App Borrow,

The expansion of Square Financial Services, Inc. to offer small, easy-to-repay consumer loans to Cash App customers will continue to drive economic empowerment to consumers. Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate.