Cash App, CFPB

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.
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.
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.
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, in part by setting up 24-hour, live-person customer service. The order requires Block to fully investigate unauthorized transactions and to provide timely refunds when appropriate.
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,
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.
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.
US consumer finance watchdog fines payments firm Block over Cash App operations
The Consumer Financial Protection Bureau (CFPB) 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,
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, to pay $175 million in refunds, compensation, and penalties for certain deficiencies.
Cash App owner failed 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 ...
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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Cash App parent company to pay up to $120 million to fraud victims, feds say
The parent company of Cash App has been ordered to pay up to $120 million to fraud victims, in addition to a $55 million ...
Tech Lobbyists Are Mad Feds Want to Regulate Digital Payment Apps Like Banks
After a fintech startup recently lost its users funds, it is hard to find sympathy for tech companies seeking loosened ...