US consumer finance watchdog fines payments firm 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.
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.
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 deprived Cash App users of meaningful and effective customer service and left the network vulnerable to criminals defrauding users.
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.
CashApp Fined $175 Million for Not Stopping Fraud. Find Out if You're Eligible for a Payment
The CFPB ordered Block to update its business practices to comply with the law, pay between $75 and $120 million to users whose unauthorized transfers weren't investigated and send a $55 million penalty to the CFPB's victim relief fund. Block agreed to the settlement but disagreed with the CFPB's characterizations of the company's actions.
US consumer finance watchdog orders payments firm Block to pay $175 million
The Consumer Financial Protection Bureau (CFPB) on Thursday ordered payments firm Block to pay a penalty tied to the operations of its peer-to-peer payments network CashApp. The order includes a redress to consumers of up to $120 million and a penalty of $55 million into the CFPB’s victims relief fund.
Cash App operator Block to pay $175 million for fraud failures
Today, the Consumer Financial Protection Bureau (CFPB) imposed a penalty on Block, the operator of the Cash App, for its failure to effectively address fraud on its platform. The company has been ordered to pay a total of $175 million,
CFPB orders Cash App parent Block to pay $175M for fraud failures
The Consumer Financial Protection Bureau ordered Block (NYSE:SQ) to pay restitution of up to $120M and a penalty of $55M over alleged weak security protocols for its Cash App, the agency said on Thursday.
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Cash App Owner Hit With Fines in Back-to-Back Settlements
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Tech groups sue US CFPB to block rule on payment apps, digital wallets
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Tech Groups Sue to Block CFPB Rule Targeting Apple, Google (2)
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