Consumer Financial Protection Bureau, Cash App and Block

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. 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.
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.
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.
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,
NerdWallet2d
What Is the Consumer Financial Protection Bureau?
The Consumer Financial Protection Bureau, or CFPB, is a government agency that oversees the consumer finance industry, ...
JD Supra1d
CFPB Introduces New Rule Banning Certain Contractual Provisions in Consumer Financial Agreements
The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements ...
No magic ‘wand’ for the GOP in scrapping consumer rules
A flurry of recent actions by the Consumer Financial Protection Bureau has left Republicans seething about “midnight ...
The National Law Review1d
What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule
Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress ...
JD Supra3d
Consumer Financial Protection Bureau Pursues Action to Stop Kickback to Brokerages for Steering Consumers to Rocket Mortgage
The Consumer Financial Protection Bureau (“CFPB”) filed an action on December 23, 2024, against Rocket Home Real Estate LLC (“Rocket Homes”), a ...
Consumer fights back and wins dismissal of wrongful debt lawsuit
Debt collectors sue millions of Americans every year. Typically, the consumer does not respond and the debt collector wins.
CFPB Seeks to Strengthen Consumer Safeguards on Digital Payments
The top US consumer financial regulator is seeking to strengthen protections for customers against excessive surveillance and ...
JD Supra1d
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – January 2025 # 2
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the ...