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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.

Hoodline · 26m

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.

CBS News on MSN · 9h

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.

23hon MSN

CFPB sued for trying to regulate digital payment apps more like banks

Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps ...

1h

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 ...

1don MSN

How a useless customer service number got Cash App in big trouble with regulators

The Consumer Financial Protection Bureau says Cash App did not provide an in-person helpline, a failure that scammers were ...

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