Cash App, CFPB and Block

CFPB fines Block $175m over Cash App's lax fraud controls
The Consumer Financial Protection Bureau (CFPB) announced today that's it's fining Block, the creator of Cash App and parent company of Square, $120 million in "refunds and redress" and a $55 million fine for how the company handled fraud on its payment platform.
Cash App owner to pay up to $175 million for failing to protect customers from fraud, feds say
Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.
Block's Cash App Ordered to Pay $175 Million by CFPB Over Fraudulent Transaction Handling
Cash App's parent company Block must pay up to $175 million after a CFPB crackdown on fraudulent transaction handling.
Cash App to pay $120 million to fraud victims, CFPB says
The owner of Cash App has been ordered to pay up to $120 million to victims of fraud on its payments platform on top of a $55 million fine, the Consumer Fi
Cash App Owner Hit With Fines in Back-to-Back Settlements
Block Inc. was fined by dozens of state regulators and then ordered by the Consumer Financial Protection Bureau to refund consumers in two separate settlements in the last 24 hours over Cash App. The CFPB Thursday ordered Block,
Block to Pay $175 Million for Cash App Customer Service Failures
Jack Dorsey’s Block Inc. will pay up to $175 million for failing to investigate and protect Cash App customers from fraudulent transactions under a settlement with the Consumer Financial Protection Bureau.
CFPB orders Cash App to pay $175 million for fraud failures
Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.
Bay Area company ordered to pay at least $75 million to wronged Cash App customers
Block, based in Oakland, was ordered Thursday to pay out at least $75 million to customers who had bad service experiences with Cash App.
Cash App parent will pay $255 million in bank secrecy and fraud settlement, Oregon will get a share
Oregon will get a $1.6 million share of an $80 million fine that Cash App parent company Block will pay for violations of bank secrecy and anti-money laundering laws. In addition to the $80 million fine,
Cash App Ordered To Pay $175M Over Fraud Concerns
Key Points ・Federal agency orders $175 million settlement for reported fraud and service failures ・Block, operator of Cash App, is required to overhaul security and refund consumers. ・Potential changes may affect how millions use popular peer-to-peer payment platforms.
Cash App owner Block to pay $175M over fraud caused by lax consumer protections
Block, the owner of Cash App and Square, will pay $175 million to settle allegations that its lax consumer protection practices put customers at high risk of fraud, the Consumer Financial Protection Bureau said.
Cash App fined $255 million in back-to-back settlements
Cash App is closing out the week on the hook for $255 million in multiple settlements around its consumer protections. Block, ...
CFPB Fines CashApp $175 Million for Allegedly Mishandling Fraud Claims
If you lost money to scammers or had your account frozen on a popular peer-to-peer payment platform, you might be due for a ...
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Block Agrees to Pay CFPB Fines Over Cash App’s Alleged Sloppy Fraud Prevention
The CFPB is also ordering Block to fix Cash App’s customer service and its processes for investigating disputed transactions, ...
CFPB sued for trying to regulate digital payment apps more like banks
Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps ...