Block, Inc. | Consumer Financial Protection Bureau
2 days ago · On January 16, 2025, the Bureau issued an order against Block, Inc. (Block), a nonbank headquartered in Oakland, California which operates Cash App, a mobile payments application through which consumers can send and receive money through peer-to-peer transfers.
CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its ...
2 days ago · – Today, the Consumer Financial Protection Bureau (CFPB) ordered Block, the operator of the peer-to-peer payments app Cash App, to refund and pay other redress to consumers up to $120 million and pay a penalty of $55 million into the CFPB’s victims relief fund. Block employed weak security protocols for Cash App and put its users at risk.
The Consumer Financial Protection Bureau (Bureau) has reviewed the practices of Block, Inc. (Respondent, as defined below) with respect to certain deposit and peer-to-peer money-transfer activities and the provision of stored-value or payment instruments through its mobile payment application, Cash App. The Bureau has identified the following ...
The Consumer Financial Protection Bureau (Bureau) intends to initiate an administrative proceeding against Block, Inc. (Respondent), under 12 U.S.C. §§ 5563 and 5565, with respect to certain deposit and peer-to-peer money transfer services and stored-value or payment instruments through its mobile payment
Cash App fined $255 million in back-to-back settlements
13 hours ago · Separately, the federal Consumer Financial Protection Bureau reached a settlement with Block on Thursday, in which the company agreed to pay up to $120 million to Cash App customers and another ...
Cash App owner to pay up to $175 million for failing to protect ...
15 hours ago · Block has agreed to pay up to $120 million to consumers harmed by fraudulent transactions and unfair business practices detailed by the Consumer Financial Protection Bureau (CFPB) in a consent ...
Cash App Ordered to Pay $255 Million in Penalties Over Fraud
1 day ago · The Consumer Financial Protection Bureau said the company delayed refunds and misled its 50 million users about whose responsibility it was to pay back their claims.
US CFPB fines Cash App-parent Block over insufficient fraud protection
1 day ago · 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.
California Joins $80 Million Enforcement Action Against Block, Inc ...
1 day ago · SACRAMENTO — The California Department of Financial Protection and Innovation (DFPI) and 47 state financial regulatory agencies have taken coordinated action against Block, Inc., for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.
US CFPB Fines Cash App-Parent Block Over Insufficient Fraud Protection
2 days ago · FILE PHOTO: Block Inc logo is seen displayed in this illustration taken, April 10, 2023. ... -The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty ...
- Some results have been removed