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 potential fraud.
Cash App Ordered to Pay $255 Million in Penalties Over Fraud
The transfer-money app, owned by Jack Dorsey’s Block, racked up a hefty bill of fines and restitution for what federal regulators called “woefully incomplete” customer protections.
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.
Block agrees to pay up to $120 million in refunds to resolve Cash App fraud
The Consumer Financial Protection Bureau announced the order on Thursday in the waning days of the Biden administration.
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 customers to see refunds after up to $175 million settlement
Cash App's parent, Block Inc., settled two regulatory actions, one with the Consumer Financial Protection Bureau and another with state agencies.
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
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.
CashApp Fined $175 Million for Not Stopping Fraud. Find Out if You're Eligible for a Payment
Today, Block, Inc., the parent company of Cash App, agreed to pay $175 million after the Consumer Financial Protection Bureau accused the company of several unfair customer practices and Customer Financial Protection Act violations.
CFPB Orders Cash App Operator to Compensate Consumers Over Fraudulent Payments
CFPB said Block employed weak security protocols for payments platform Cash App and put its users at risk. It added that Block is required by law to investigate and resolve disputes about unauthorized transactions but that its investigations were incomplete.
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,
48 states hit Cash App operator with a $80m fine
Each state will receive $1.6 million from the settlement, according to the R.I. Department of Business Regulation.
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Cash App Owner to Pay $80 Million Over Alleged Anti-Money-Laundering Deficiencies
Block has agreed to pay $80 million in a settlement with dozens of state regulators over alleged problems with its program to ...