Looks like fin rot. Can be caused by a number of things, including stress, aggressiveness from other fish, or poor water quality.
Treatment usually means putting them in QT and treating with an antibacterial like Maracyn 2, Nitrofurizone, melafix or even Kana plex. I tried all of those on a engineer that had pretty bad fin rot and open ulcers, but the Nitro worked the best but absolutely has to be done in a qt tank