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Cash App, CFPB and Block

Hosted on MSN · 1d

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.

The Verge on MSN · 9h

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, the company that owns Cash App, agreed Wednesday to pay $80 million to 48 states that fined the company for violating laws intended to keep illicit activity off the platform.

Reuters on MSN · 1d

US CFPB fines Cash App-parent Block over insufficient fraud protection

The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak security protocols on its mobile payment service Cash App. The regulator said Block,

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.

1d

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 ...

Digital Transactions1d

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, ...

Newsable Asianet News on MSN1d

Consumer Finance Watchdog Asks Block To Pay $175M Over Cash App Deficiencies: Retail Remains Unfazed

The Consumer Financial Protection Bureau (CFPB) has ordered Block Inc., the operator of peer-to-peer payments app Cash App, ...

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